Citigroup Inc. Cuts Edison International (EIX) Price Target to $76.00
Edison International (NYSE:EIX) had its price target decreased by stock analysts at Citigroup Inc. from $79.00 to $76.00 in a research note issued to investors on Tuesday. The firm currently has a “neutral” rating on the stock. Citigroup Inc.’s target price points to a potential upside of 6.46% from the company’s current price.
A number of other research analysts have also recently weighed in on the company. BMO Capital Markets reiterated an “outperform” rating and issued a $82.00 target price (up previously from $79.00) on shares of Edison International in a report on Monday, August 1st. Argus reiterated a “buy” rating and issued a $86.00 target price (up previously from $83.00) on shares of Edison International in a report on Tuesday, July 5th. Evercore ISI cut Edison International from a “buy” rating to a “hold” rating and lifted their target price for the company from $70.00 to $79.00 in a report on Wednesday, July 6th. Zacks Investment Research upgraded Edison International from a “hold” rating to a “buy” rating and set a $85.00 target price on the stock in a report on Tuesday, September 27th. Finally, Jefferies Group reissued a “hold” rating and issued a $80.00 price objective on shares of Edison International in a research report on Friday, September 2nd. Nine equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $77.38.
Edison International (NYSE:EIX) traded down 2.13% during mid-day trading on Tuesday, reaching $69.87. The company’s stock had a trading volume of 1,319,565 shares. Edison International has a 12-month low of $57.51 and a 12-month high of $78.72. The firm’s 50 day moving average price is $73.44 and its 200 day moving average price is $73.27. The stock has a market cap of $22.76 billion, a price-to-earnings ratio of 25.91 and a beta of 0.23.
Edison International (NYSE:EIX) last issued its earnings results on Thursday, July 28th. The company reported $0.85 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.97 by $0.12. Edison International had a net margin of 8.56% and a return on equity of 9.13%. The firm earned $2.78 billion during the quarter, compared to analyst estimates of $3.18 billion. During the same quarter in the previous year, the business posted $1.16 EPS. Edison International’s revenue was down 4.5% compared to the same quarter last year. On average, equities analysts predict that Edison International will post $3.89 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 31st. Investors of record on Friday, September 30th will be paid a $0.48 dividend. The ex-dividend date is Wednesday, September 28th. This represents a $1.92 dividend on an annualized basis and a yield of 2.69%. Edison International’s dividend payout ratio (DPR) is 71.11%.
In related news, Director Ellen O. Tauscher sold 3,012 shares of Edison International stock in a transaction dated Wednesday, September 14th. The stock was sold at an average price of $71.87, for a total value of $216,472.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jagjeet S. Bindra sold 3,995 shares of Edison International stock in a transaction dated Wednesday, September 7th. The stock was sold at an average price of $73.80, for a total value of $294,831.00. The disclosure for this sale can be found here. 1.51% of the stock is owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of EIX. State Street Corp increased its position in shares of Edison International by 2.0% in the first quarter. State Street Corp now owns 25,698,362 shares of the company’s stock worth $1,847,457,000 after buying an additional 493,300 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Edison International by 8.0% in the second quarter. Vanguard Group Inc. now owns 24,445,643 shares of the company’s stock worth $1,898,694,000 after buying an additional 1,811,159 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Edison International by 25.3% in the second quarter. JPMorgan Chase & Co. now owns 16,223,155 shares of the company’s stock worth $1,260,052,000 after buying an additional 3,277,814 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its position in shares of Edison International by 10.5% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 9,205,873 shares of the company’s stock worth $661,810,000 after buying an additional 874,519 shares during the last quarter. Finally, BlackRock Fund Advisors increased its position in shares of Edison International by 5.3% in the second quarter. BlackRock Fund Advisors now owns 8,005,949 shares of the company’s stock worth $621,822,000 after buying an additional 400,367 shares during the last quarter. Institutional investors and hedge funds own 81.95% of the company’s stock.
About Edison International
Edison International is the parent holding company of Southern California Edison Company (SCE). SCE is engaged in the business of supplying and delivering electricity to an approximately 50,000 square mile area of southern California. It is also the parent company of subsidiaries that are engaged in competitive businesses focused on providing energy services to commercial and industrial customers, including distributed resources, engaging in transmission opportunities, and exploring distributed water treatment and recycling.
Receive News & Stock Ratings for Edison International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Edison International and related stocks with our FREE daily email newsletter.