Edison International (EIX) Receives Average Rating of “Hold” from Brokerages
Edison International (NYSE:EIX) has been assigned a consensus recommendation of “Hold” from the sixteen brokerages that are covering the firm. Ten investment analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $76.68.
Several brokerages recently issued reports on EIX. Deutsche Bank AG set a $78.00 price target on shares of Edison International and gave the company a “hold” rating in a research report on Sunday, September 4th. Zacks Investment Research cut shares of Edison International from a “buy” rating to a “hold” rating in a report on Friday. Jefferies Group upped their price objective on shares of Edison International from $72.00 to $80.00 and gave the stock a “hold” rating in a report on Friday, July 29th. Citigroup Inc. cut their price objective on shares of Edison International from $79.00 to $76.00 and set a “neutral” rating on the stock in a report on Tuesday, October 4th. Finally, SunTrust Banks Inc. upped their price objective on shares of Edison International from $82.00 to $84.00 and gave the stock a “buy” rating in a report on Monday, September 26th.
Shares of Edison International (NYSE:EIX) remained flat at $71.01 during midday trading on Friday. The company had a trading volume of 833,522 shares. The firm’s 50 day moving average is $72.48 and its 200-day moving average is $73.15. The firm has a market cap of $23.14 billion, a price-to-earnings ratio of 26.33 and a beta of 0.23. Edison International has a 52 week low of $57.51 and a 52 week high of $78.72.
Edison International (NYSE:EIX) last announced its quarterly earnings results on Thursday, July 28th. The company reported $0.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.97 by $0.12. Edison International had a net margin of 8.56% and a return on equity of 9.13%. The company had revenue of $2.78 billion for the quarter, compared to analysts’ expectations of $3.18 billion. During the same quarter in the prior year, the firm earned $1.16 EPS. Edison International’s quarterly revenue was down 4.5% compared to the same quarter last year. On average, equities research analysts expect that Edison International will post $3.91 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 31st. Shareholders of record on Friday, September 30th will be given a $0.48 dividend. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $1.92 annualized dividend and a yield of 2.70%. Edison International’s payout ratio is presently 71.11%.
In other Edison International news, Director Jagjeet S. Bindra sold 3,995 shares of the stock in a transaction that occurred on Wednesday, September 7th. The shares were sold at an average price of $73.80, for a total value of $294,831.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Ellen O. Tauscher sold 3,012 shares of the stock in a transaction that occurred on Wednesday, September 14th. The stock was sold at an average price of $71.87, for a total transaction of $216,472.44. The disclosure for this sale can be found here. 1.51% of the stock is currently owned by company insiders.
Several hedge funds have recently made changes to their positions in the company. Pacad Investment Ltd. purchased a new stake in shares of Edison International during the second quarter worth about $109,000. Pinkerton Retirement Specialists LLC purchased a new stake in shares of Edison International during the second quarter worth about $130,000. Integrated Investment Consultants LLC boosted its stake 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 during the period. Invictus RG purchased a new stake in shares of Edison International during the first quarter worth about $178,000. Finally, Pitcairn Co. purchased a new stake in shares of Edison International during the second quarter worth about $202,000. 81.95% of the stock is owned by hedge funds and other institutional investors.
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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