Revenue Update on Edison International(NYSE:EIX)

Edison International(NYSE:EIX) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during After-hours on Jul 28, 2016. Company reported revenue of $2.78B. Analysts estimated a revenue of $3.18B. Earnings per share were $0.85. Analysts had estimated an EPS of $1.01.

In a different note, On Jul 20, 2016, Citigroup said it Maintains its rating on Edison International. In the research note, the firm Raises the price-target to $70.00 per share. The shares have been rated ‘Neutral’ by the firm. On May 3, 2016, Jefferies said it Maintains its rating on Edison International. In the research note, the firm Raises the price-target to $66.00 per share. The shares have been rated ‘Hold’ by the firm.

Edison International (EIX) made into the market gainers list on Thursdays trading session with the shares advancing 0.33% or 0.25 points. Due to strong positive momentum, the stock ended at $76.23, which is also near the day’s high of $76.86. The stock began the session at $76.07 and the volume stood at 13,43,974 shares. The 52-week high of the shares is $78.72 and the 52 week low is $56.68. The company has a current market capitalization of $24,837 M and it has 32,58,11,210 shares in outstanding.

Several Insider Transactions has been reported to the SEC. On Jun 13, 2016, Gaddi H. Vasquez (Senior Vice President) sold 6,842 shares at $73.83 per share price.Also, On May 17, 2016, Ronald L Litzinger (Pres. Edison Energy Group, Inc) sold 12,677 shares at $71.28 per share price.On Mar 24, 2016, Richard T Iii Schlosberg (director) sold 10,000 shares at $71.61 per share price, according to the Form-4 filing with the securities and exchange commission.

Edison International is the parent holding company of Southern California Edison Company (SCE) and subsidiaries. SCE is a public utility primarily engaged in the business of supplying and delivering electricity to an approximately 50000 square mile area of southern California. Edison International is also the parent company of subsidiaries that are engaged in businesses related to the generation or use of electricity. Edison International’s other subsidiaries include Edison Mission Group Inc. and SoCore Energy LLC. Edison Mission Group Inc. is a wholly owned subsidiary of Edison International and the parent company of Edison Mission Energy and Edison Capital. SoCore Energy LLC a subsidiary engaged in distributed generation has constructed 26 Megawatt of rooftop solar systems in nine states selling power back to commercial customers under power purchase agreements.

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