Brokerages Set Edison International (EIX) Target Price at $76.68
Edison International (NYSE:EIX) has received an average rating of “Hold” from the sixteen research firms that are presently covering the firm. Ten equities research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $76.68.
EIX has been the topic of several research reports. Argus reissued a “buy” rating and issued a $86.00 price target (up from $83.00) on shares of Edison International in a research note on Tuesday, July 5th. Zacks Investment Research downgraded shares of Edison International from a “hold” rating to a “sell” rating in a research note on Tuesday, July 5th. Citigroup Inc. raised their price target on shares of Edison International from $70.00 to $79.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 20th. Jefferies Group reissued a “hold” rating and issued a $80.00 price target on shares of Edison International in a research note on Friday, September 2nd. Finally, SunTrust Banks Inc. raised their price target on shares of Edison International from $82.00 to $84.00 and gave the stock a “buy” rating in a research note on Monday, September 26th.
In related news, insider Ronald L. Litzinger sold 38,084 shares of Edison International stock in a transaction that occurred on Monday, September 12th. The shares were sold at an average price of $72.10, for a total value of $2,745,856.40. Following the completion of the transaction, the insider now owns 12,053 shares in the company, valued at $869,021.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jagjeet S. Bindra sold 3,995 shares of Edison International stock in a transaction that occurred on Wednesday, September 7th. The shares were sold at an average price of $73.80, for a total transaction of $294,831.00. The disclosure for this sale can be found here. 1.51% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Pacad Investment Ltd. acquired a new position in shares of Edison International during the second quarter worth $109,000. Pinkerton Retirement Specialists LLC purchased a new position in shares of Edison International during the second quarter worth about $130,000. Integrated Investment Consultants LLC increased its position in shares of Edison International by 9.3% in the second quarter. Integrated Investment Consultants LLC now owns 2,001 shares of the company’s stock worth $155,000 after buying an additional 170 shares in the last quarter. Invictus RG purchased a new position in shares of Edison International during the first quarter worth about $178,000. Finally, Washington Trust Bank increased its position in shares of Edison International by 0.9% in the third quarter. Washington Trust Bank now owns 2,777 shares of the company’s stock worth $201,000 after buying an additional 25 shares in the last quarter. Hedge funds and other institutional investors own 81.95% of the company’s stock.
Shares of Edison International (NYSE:EIX) opened at 70.85 on Friday. Edison International has a 52-week low of $57.51 and a 52-week high of $78.72. The firm has a 50-day moving average of $72.40 and a 200 day moving average of $73.15. The stock has a market capitalization of $23.08 billion, a PE ratio of 26.27 and a beta of 0.23.
Edison International (NYSE:EIX) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.85 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.97 by $0.12. The company had revenue of $2.78 billion for the quarter, compared to analysts’ expectations of $3.18 billion. Edison International had a net margin of 8.56% and a return on equity of 9.13%. The business’s revenue for the quarter was down 4.5% on a year-over-year basis. During the same period in the previous year, the business earned $1.16 earnings per share. Equities research analysts forecast that Edison International will post $3.91 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 31st. Investors of record on Friday, September 30th will be issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date of this dividend is Wednesday, September 28th. Edison International’s dividend payout ratio (DPR) is currently 71.11%.
Edison International Company Profile
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.