Edison International (NYSE:EIX)‘s stock had its “buy” rating reaffirmed by investment analysts at SunTrust Banks in a research note issued on Tuesday, December 26th. They currently have a $79.00 price target on the utilities provider’s stock. SunTrust Banks’ target price would suggest a potential upside of 25.72% from the stock’s previous close.
A number of other equities analysts have also weighed in on EIX. Morgan Stanley increased their target price on shares of Edison International from $90.00 to $92.00 and gave the stock an “equal weight” rating in a research report on Friday, September 8th. Royal Bank of Canada restated a “buy” rating and issued a $84.00 price objective on shares of Edison International in a research report on Sunday, September 17th. Mizuho restated a “buy” rating and issued a $86.00 price objective on shares of Edison International in a research report on Monday, October 9th. Citigroup raised their price objective on shares of Edison International from $84.00 to $87.00 and gave the company a “neutral” rating in a research report on Tuesday, October 17th. Finally, Bank of America restated a “buy” rating and issued a $86.00 price objective on shares of Edison International in a research report on Tuesday, October 24th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $81.64.
Shares of Edison International (NYSE:EIX) opened at $62.84 on Tuesday. Edison International has a 1-year low of $62.03 and a 1-year high of $83.38. The company has a current ratio of 0.51, a quick ratio of 0.47 and a debt-to-equity ratio of 0.80. The stock has a market cap of $20,470.00, a PE ratio of 14.35, a P/E/G ratio of 2.31 and a beta of 0.24.
Edison International (NYSE:EIX) last issued its earnings results on Monday, October 30th. The utilities provider reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.33 by $0.10. The firm had revenue of $3.67 billion during the quarter, compared to analyst estimates of $3.53 billion. Edison International had a net margin of 13.18% and a return on equity of 10.84%. The company’s quarterly revenue was down 2.5% on a year-over-year basis. During the same quarter last year, the business earned $1.29 earnings per share. analysts forecast that Edison International will post 4.33 EPS for the current fiscal year.
In other Edison International news, insider Ronald L. Litzinger sold 224,718 shares of Edison International stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $82.00, for a total transaction of $18,426,876.00. Following the completion of the sale, the insider now directly owns 14,121 shares in the company, valued at $1,157,922. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.41% of the company’s stock.
Several hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in shares of Edison International by 1.8% during the second quarter. Vanguard Group Inc. now owns 27,363,702 shares of the utilities provider’s stock worth $2,139,568,000 after acquiring an additional 487,713 shares in the last quarter. BlackRock Inc. raised its stake in shares of Edison International by 1.1% during the second quarter. BlackRock Inc. now owns 24,659,823 shares of the utilities provider’s stock worth $1,928,152,000 after acquiring an additional 270,625 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Edison International by 3.6% during the second quarter. JPMorgan Chase & Co. now owns 15,314,368 shares of the utilities provider’s stock worth $1,197,430,000 after acquiring an additional 526,261 shares in the last quarter. FIL Ltd raised its stake in shares of Edison International by 12.1% during the second quarter. FIL Ltd now owns 2,789,016 shares of the utilities provider’s stock worth $218,073,000 after acquiring an additional 301,131 shares in the last quarter. Finally, Legal & General Group Plc raised its stake in shares of Edison International by 5.8% during the third quarter. Legal & General Group Plc now owns 2,750,911 shares of the utilities provider’s stock worth $212,288,000 after acquiring an additional 149,780 shares in the last quarter. 81.14% of the stock is currently owned by hedge funds and other institutional investors.
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About Edison International
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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