Edison International (EIX) Lowered to “Neutral” at Mizuho
Other analysts have also issued reports about the company. BMO Capital Markets restated a buy rating and issued a $85.00 target price on shares of Edison International in a research note on Thursday, August 17th. Jefferies Group reiterated a buy rating on shares of Edison International in a report on Thursday, August 17th. ValuEngine upgraded Edison International from a hold rating to a buy rating in a report on Wednesday, November 15th. SunTrust Banks reiterated a buy rating and issued a $89.00 price target on shares of Edison International in a report on Monday, October 2nd. Finally, BidaskClub upgraded Edison International from a sell rating to a hold rating in a report on Tuesday, August 22nd. Eleven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus price target of $84.54.
Shares of Edison International (NYSE EIX) opened at $71.80 on Wednesday. Edison International has a 12 month low of $67.80 and a 12 month high of $83.38. The firm has a market capitalization of $23,386.75, a price-to-earnings ratio of 16.35, a PEG ratio of 2.60 and a beta of 0.23. The company has a quick ratio of 0.47, a current ratio of 0.51 and a debt-to-equity ratio of 0.80.
Edison International (NYSE:EIX) last announced its earnings results on Monday, October 30th. The utilities provider reported $1.43 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.33 by $0.10. Edison International had a return on equity of 10.84% and a net margin of 13.18%. The company had revenue of $3.67 billion during the quarter, compared to analyst estimates of $3.53 billion. During the same period last year, the company posted $1.29 earnings per share. The firm’s quarterly revenue was down 2.5% compared to the same quarter last year. sell-side analysts predict that Edison International will post 4.33 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 31st. Shareholders of record on Friday, December 29th will be issued a dividend of $0.605 per share. The ex-dividend date is Thursday, December 28th. This represents a $2.42 dividend on an annualized basis and a yield of 3.37%. This is a boost from Edison International’s previous quarterly dividend of $0.54. Edison International’s dividend payout ratio (DPR) is 48.98%.
In other Edison International news, insider Ronald L. Litzinger sold 224,718 shares of the firm’s stock in a transaction dated 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 transaction, the insider now 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 through this link. 0.41% of the stock is currently owned by company insiders.
Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Edison International by 1.8% during the 2nd quarter. Vanguard Group Inc. now owns 27,363,702 shares of the utilities provider’s stock valued at $2,139,568,000 after purchasing an additional 487,713 shares in the last quarter. BlackRock Inc. raised its position in Edison International by 1.1% in the 2nd quarter. BlackRock Inc. now owns 24,659,823 shares of the utilities provider’s stock valued at $1,928,152,000 after buying an additional 270,625 shares during the last quarter. JPMorgan Chase & Co. raised its position in Edison International by 3.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 15,314,368 shares of the utilities provider’s stock valued at $1,197,430,000 after buying an additional 526,261 shares during the last quarter. Boston Partners raised its position in Edison International by 4.2% in the 2nd quarter. Boston Partners now owns 3,736,312 shares of the utilities provider’s stock valued at $292,142,000 after buying an additional 151,153 shares during the last quarter. Finally, FIL Ltd raised its position in Edison International by 12.1% in the 2nd quarter. FIL Ltd now owns 2,789,016 shares of the utilities provider’s stock valued at $218,073,000 after buying an additional 301,131 shares during the last quarter. Institutional investors and hedge funds own 81.36% of the company’s stock.
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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