Edison International (EIX) To Go Ex-Dividend on April 7th

Edison International (NYSE:EIX) announced a quarterly dividend on Thursday, February 27th, RTT News reports. Shareholders of record on Monday, April 7th will be given a dividend of 0.8275 per share by the utilities provider on Wednesday, April 30th. This represents a $3.31 dividend on an annualized basis and a yield of 6.05%. The ex-dividend date is Monday, April 7th.

Edison International has raised its dividend by an average of 5.6% per year over the last three years and has raised its dividend annually for the last 23 consecutive years. Edison International has a dividend payout ratio of 53.9% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Edison International to earn $5.76 per share next year, which means the company should continue to be able to cover its $3.31 annual dividend with an expected future payout ratio of 57.5%.

Edison International Price Performance

NYSE:EIX opened at $54.71 on Friday. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.81 and a current ratio of 0.88. The company has a 50-day moving average of $54.84 and a 200-day moving average of $71.65. Edison International has a 52 week low of $49.06 and a 52 week high of $88.77. The company has a market capitalization of $21.06 billion, a price-to-earnings ratio of 16.04, a PEG ratio of 1.07 and a beta of 0.87.

Edison International (NYSE:EIX) last issued its earnings results on Thursday, February 27th. The utilities provider reported $1.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.03). The company had revenue of $17.60 billion during the quarter, compared to analyst estimates of $3.92 billion. Edison International had a return on equity of 13.17% and a net margin of 8.52%. As a group, equities research analysts anticipate that Edison International will post 4.95 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on EIX. Wells Fargo & Company cut their price target on shares of Edison International from $94.00 to $75.00 and set an “overweight” rating for the company in a report on Friday, February 28th. JPMorgan Chase & Co. restated a “neutral” rating and set a $72.00 price target on shares of Edison International in a research report on Wednesday, February 12th. The Goldman Sachs Group cut their price objective on Edison International from $88.00 to $68.00 and set a “neutral” rating for the company in a research report on Tuesday, March 4th. Morgan Stanley increased their target price on Edison International from $48.00 to $52.00 and gave the stock an “underweight” rating in a report on Thursday, March 20th. Finally, Guggenheim cut Edison International from a “buy” rating to a “neutral” rating in a report on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Edison International has an average rating of “Moderate Buy” and a consensus target price of $76.82.

About Edison International

Edison International, through its subsidiaries, engages in the generation and distribution of electric power. The company supplies and delivers electricity to approximately 50,000 square mile area of southern California to residential, commercial, industrial, public authorities, agricultural, and other sectors.