Analysts Set Edison International (EIX) Price Target at $76.68
Shares of Edison International (NYSE:EIX) have received a consensus recommendation of “Hold” from the fourteen brokerages that are covering the stock. Nine research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $76.68.
Several equities analysts have recently commented on EIX shares. Zacks Investment Research upgraded shares of Edison International from a “hold” rating to a “buy” rating and set a $85.00 target price for the company in a research report on Tuesday, September 27th. BMO Capital Markets reaffirmed an “outperform” rating and set a $82.00 price target (up from $79.00) on shares of Edison International in a report on Monday, August 1st. Argus decreased their price target on shares of Edison International from $86.00 to $81.00 and set a “buy” rating on the stock in a report on Tuesday, October 4th. Jefferies Group reaffirmed a “hold” rating and set a $80.00 price target on shares of Edison International in a report on Friday, September 2nd. Finally, Deutsche Bank AG lifted their price target on shares of Edison International from $76.00 to $77.00 and gave the company a “hold” rating in a report on Friday, July 29th.
In related news, Director Ellen O. Tauscher sold 3,012 shares of the business’s stock in a transaction on Wednesday, September 14th. The shares were sold at an average price of $71.87, for a total transaction of $216,472.44. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Ronald L. Litzinger sold 38,086 shares of the business’s stock in a transaction on Tuesday, November 15th. The shares were sold at an average price of $69.40, for a total transaction of $2,643,168.40. Following the transaction, the insider now owns 12,054 shares in the company, valued at approximately $836,547.60. The disclosure for this sale can be found here. 1.51% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in EIX. Brinker Capital Inc. bought a new position in Edison International during the third quarter worth about $440,000. Colony Group LLC increased its position in Edison International by 10.8% in the third quarter. Colony Group LLC now owns 55,373 shares of the company’s stock worth $4,001,000 after buying an additional 5,407 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in Edison International by 14.3% in the third quarter. Price T Rowe Associates Inc. MD now owns 11,220,099 shares of the company’s stock worth $810,652,000 after buying an additional 1,403,621 shares during the last quarter. Crow Point Partners LLC bought a new position in Edison International during the third quarter worth about $27,816,000. Finally, Credit Suisse AG increased its position in Edison International by 24.2% in the third quarter. Credit Suisse AG now owns 838,990 shares of the company’s stock worth $60,617,000 after buying an additional 163,635 shares during the last quarter. Institutional investors own 81.73% of the company’s stock.
Shares of Edison International (NYSE:EIX) opened at 68.45 on Friday. Edison International has a 12-month low of $57.85 and a 12-month high of $78.72. The firm has a 50-day moving average of $71.44 and a 200 day moving average of $73.25. The firm has a market capitalization of $22.30 billion, a price-to-earnings ratio of 25.38 and a beta of 0.17.
Edison International (NYSE:EIX) last issued its earnings results on Tuesday, November 1st. The company reported $1.29 EPS for the quarter, beating the consensus estimate of $1.23 by $0.06. The company earned $3.77 billion during the quarter, compared to analysts’ expectations of $2.91 billion. Edison International had a net margin of 8.80% and a return on equity of 9.59%. The business’s revenue for the quarter was up .1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.16 EPS. On average, equities research analysts expect that Edison International will post $3.91 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 31st. Stockholders of record on Friday, September 30th were paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date of this dividend was Wednesday, September 28th. Edison International’s dividend payout ratio is currently 71.38%.
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.
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