Edison International (NYSE:EIX)‘s stock had its “buy” rating reiterated by investment analysts at SunTrust Banks in a research report issued to clients and investors on Tuesday, December 26th. They presently have a $79.00 price target on the utilities provider’s stock. SunTrust Banks’ price objective suggests a potential upside of 25.72% from the company’s previous close.
EIX has been the topic of several other reports. Edward Jones lowered shares of Edison International from a “hold” rating to a “sell” rating in a research note on Wednesday, December 27th. Royal Bank of Canada reissued a “buy” rating and issued a $84.00 price objective on shares of Edison International in a report on Sunday, September 17th. Morgan Stanley increased their price objective on Edison International from $90.00 to $92.00 and gave the company an “equal weight” rating in a report on Friday, September 8th. Citigroup increased their price objective on Edison International from $84.00 to $87.00 and gave the company a “neutral” rating in a report on Tuesday, October 17th. Finally, Mizuho reissued a “buy” rating and issued a $86.00 price objective on shares of Edison International in a report on Monday, October 9th. 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 stock. The stock has an average rating of “Hold” and an average price target of $81.64.
Shares of Edison International (EIX) opened at $62.84 on Tuesday. The stock has a market cap of $20,470.00, a PE ratio of 14.35, a PEG ratio of 2.31 and a beta of 0.24. Edison International has a 1 year low of $62.03 and a 1 year high of $83.38. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.47 and a current ratio of 0.51.
Edison International (NYSE:EIX) last announced its quarterly earnings results on Monday, October 30th. The utilities provider reported $1.43 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.33 by $0.10. The company had revenue of $3.67 billion for 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 firm’s revenue was down 2.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.29 earnings per share. research analysts expect that Edison International will post 4.33 EPS for the current fiscal year.
In related news, insider Ronald L. Litzinger sold 224,718 shares of the stock in a transaction on Wednesday, November 15th. The stock was 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 of the company’s stock, valued at $1,157,922. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.41% of the stock is owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the business. Amica Retiree Medical Trust acquired a new stake in Edison International in the third quarter valued at $138,000. Sun Life Financial INC lifted its holdings in Edison International by 16,935.7% in the second quarter. Sun Life Financial INC now owns 2,385 shares of the utilities provider’s stock valued at $186,000 after acquiring an additional 2,371 shares during the period. TCI Wealth Advisors Inc. lifted its holdings in Edison International by 139.7% in the third quarter. TCI Wealth Advisors Inc. now owns 2,630 shares of the utilities provider’s stock valued at $203,000 after acquiring an additional 1,533 shares during the period. OxFORD Asset Management LLP acquired a new stake in Edison International in the second quarter valued at $204,000. Finally, Shelton Capital Management acquired a new stake in Edison International in the second quarter valued at $206,000. 81.14% of the stock is owned by 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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