Goldman Sachs Group Analysts Give Edison International (EIX) a $70.00 Price Target
Edison International (NYSE:EIX) has been given a $70.00 price target by investment analysts at Goldman Sachs Group in a research note issued to investors on Friday. The brokerage currently has a “hold” rating on the utilities provider’s stock. Goldman Sachs Group’s price target points to a potential upside of 0.42% from the stock’s previous close.
Several other equities analysts have also recently commented on EIX. Jefferies Group reiterated a “buy” rating on shares of Edison International in a research note on Thursday, August 17th. BMO Capital Markets reiterated a “buy” rating and issued a $85.00 price target on shares of Edison International in a research report on Thursday, August 17th. BidaskClub upgraded Edison International from a “sell” rating to a “hold” rating in a research report on Tuesday, August 22nd. Mizuho reiterated a “buy” rating and issued a $87.00 price target (up previously from $84.00) on shares of Edison International in a research report on Wednesday, August 23rd. Finally, Morgan Stanley raised their price objective on Edison International from $90.00 to $92.00 and gave the stock an “equal weight” rating in a research report on Friday, September 8th. Twelve research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $82.79.
Edison International (EIX) opened at $69.71 on Friday. The company has a market capitalization of $22,712.29, a P/E ratio of 15.88, a PEG ratio of 2.53 and a beta of 0.23. 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 has a one year low of $67.28 and a one year high of $83.38.
Edison International (NYSE:EIX) last released its 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 during the quarter, compared to analysts’ expectations of $3.53 billion. Edison International had a return on equity of 10.84% and a net margin of 13.18%. The business’s revenue was down 2.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.29 EPS. sell-side analysts anticipate that Edison International will post 4.33 earnings per share for the current year.
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 completion of the sale, the insider now directly owns 14,121 shares in the company, valued at approximately $1,157,922. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.41% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the company. Cutter & CO Brokerage Inc. boosted its stake in Edison International by 1.6% in the second quarter. Cutter & CO Brokerage Inc. now owns 4,635 shares of the utilities provider’s stock worth $362,000 after purchasing an additional 75 shares in the last quarter. Veritable L.P. raised its position in shares of Edison International by 0.8% in the 2nd quarter. Veritable L.P. now owns 10,853 shares of the utilities provider’s stock worth $849,000 after acquiring an additional 84 shares in the last quarter. Synovus Financial Corp raised its position in shares of Edison International by 2.7% in the 2nd quarter. Synovus Financial Corp now owns 5,502 shares of the utilities provider’s stock worth $427,000 after acquiring an additional 144 shares in the last quarter. Ecofin Ltd. raised its position in shares of Edison International by 0.6% in the 2nd quarter. Ecofin Ltd. now owns 30,727 shares of the utilities provider’s stock worth $2,403,000 after acquiring an additional 179 shares in the last quarter. Finally, Elkhorn Investments LLC raised its position in shares of Edison International by 1.8% in the 2nd quarter. Elkhorn Investments LLC now owns 14,985 shares of the utilities provider’s stock worth $1,188,000 after acquiring an additional 267 shares in the last quarter. 81.36% of the stock is owned by institutional investors.
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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