Edison International (NYSE:EIX) Given Equal Weight Rating at Morgan Stanley
Edison International (NYSE:EIX)‘s stock had its “equal weight” rating reissued by analysts at Morgan Stanley in a note issued to investors on Tuesday, July 11th.
Several other brokerages also recently weighed in on EIX. Jefferies Group LLC reissued a “hold” rating and issued a $83.00 price target (up previously from $80.00) on shares of Edison International in a report on Tuesday, May 2nd. BidaskClub cut Edison International from a “hold” rating to a “sell” rating in a research note on Sunday, June 25th. BMO Capital Markets restated an “outperform” rating and issued a $85.00 price objective (up from $82.00) on shares of Edison International in a research note on Wednesday, May 3rd. Zacks Investment Research cut Edison International from a “buy” rating to a “hold” rating in a research note on Friday, July 7th. Finally, Deutsche Bank AG raised their price objective on Edison International from $79.00 to $81.00 and gave the stock a “hold” rating in a research note on Tuesday, April 11th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $83.46.
Shares of Edison International (NYSE:EIX) traded up 0.107% during trading on Tuesday, reaching $79.375. The company’s stock had a trading volume of 552,230 shares. Edison International has a 12-month low of $67.44 and a 12-month high of $82.82. The firm’s 50-day moving average is $78.84 and its 200-day moving average is $78.38. The stock has a market capitalization of $25.86 billion, a PE ratio of 18.769 and a beta of 0.22.
Edison International (NYSE:EIX) last issued its quarterly earnings results on Thursday, July 27th. The utilities provider reported $0.85 earnings per share for the quarter, hitting the consensus estimate of $0.85. The business had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $2.92 billion. Edison International had a return on equity of 10.58% and a net margin of 12.64%. The company’s quarterly revenue was up 6.8% on a year-over-year basis. During the same quarter last year, the company earned $0.85 earnings per share. Equities analysts expect that Edison International will post $4.24 earnings per share for the current year.
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In other news, insider Gaddi H. Vasquez sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, June 8th. The stock was sold at an average price of $81.30, for a total value of $203,250.00. Following the completion of the sale, the insider now directly owns 4,550 shares in the company, valued at $369,915. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ronald L. Litzinger sold 26,035 shares of the business’s stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $78.85, for a total value of $2,052,859.75. The disclosure for this sale can be found here. Insiders sold 31,035 shares of company stock valued at $2,460,285 over the last 90 days. Company insiders own 0.41% of the company’s stock.
Several hedge funds have recently bought and sold shares of the stock. Guardian Life Insurance Co. of America boosted its stake in Edison International by 0.6% in the first quarter. Guardian Life Insurance Co. of America now owns 1,256 shares of the utilities provider’s stock worth $100,000 after buying an additional 8 shares during the period. Wetherby Asset Management Inc. boosted its stake in Edison International by 0.3% in the second quarter. Wetherby Asset Management Inc. now owns 3,824 shares of the utilities provider’s stock worth $299,000 after buying an additional 12 shares during the period. Benjamin F. Edwards & Company Inc. boosted its stake in Edison International by 0.6% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 2,945 shares of the utilities provider’s stock worth $234,000 after buying an additional 17 shares during the period. CENTRAL TRUST Co boosted its stake in Edison International by 0.7% in the second quarter. CENTRAL TRUST Co now owns 3,008 shares of the utilities provider’s stock worth $235,000 after buying an additional 22 shares during the period. Finally, Cleararc Capital Inc. boosted its stake in Edison International by 0.5% in the first quarter. Cleararc Capital Inc. now owns 7,944 shares of the utilities provider’s stock worth $632,000 after buying an additional 42 shares during the period. Institutional investors and hedge funds own 81.85% of the company’s stock.
Edison International Company Profile
Edison International is the holding company of Southern California Edison Company (SCE). As of December 31, 2016, SCE, a public utility, was primarily engaged in the business of supplying and delivering electricity to an approximately 50,000 square mile area of southern California. The Company is also the parent company of Edison Energy Group, Inc (Edison Energy Group), a holding company for subsidiaries engaged in pursuing competitive business opportunities across energy services and distributed solar to commercial and industrial customers.
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