Edison International (NYSE:EIX) Receives $66.00 Consensus PT from Brokerages

Shares of Edison International (NYSE:EIX) have been assigned a consensus recommendation of “Hold” from the eight analysts that are presently covering the company, MarketBeat.com reports. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $66.00.

A number of brokerages recently issued reports on EIX. TheStreet upgraded shares of Edison International from a “c” rating to a “b-” rating in a research report on Thursday, July 29th. Barclays raised their price objective on shares of Edison International from $64.00 to $65.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 25th. Bank of America cut shares of Edison International from a “buy” rating to a “neutral” rating and set a $59.00 price objective for the company. in a research report on Tuesday, July 13th. Mizuho raised their price objective on shares of Edison International from $68.00 to $77.00 and gave the company a “buy” rating in a research report on Friday, June 11th. Finally, Morgan Stanley lowered their price objective on shares of Edison International from $72.00 to $60.00 and set an “equal weight” rating for the company in a research report on Thursday, September 9th.

NYSE EIX opened at $58.42 on Friday. The company has a current ratio of 0.63, a quick ratio of 0.58 and a debt-to-equity ratio of 1.42. Edison International has a 1 year low of $48.47 and a 1 year high of $66.68. The company has a fifty day simple moving average of $57.35 and a 200 day simple moving average of $57.88. The company has a market cap of $22.18 billion, a P/E ratio of 27.20, a P/E/G ratio of 3.81 and a beta of 0.59.

Edison International (NYSE:EIX) last issued its quarterly earnings results on Thursday, July 29th. The utilities provider reported $0.94 earnings per share for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.05). Edison International had a net margin of 6.83% and a return on equity of 11.69%. The company had revenue of $3.32 billion during the quarter, compared to the consensus estimate of $3.09 billion. During the same period last year, the company earned $1.00 earnings per share. Equities research analysts forecast that Edison International will post 4.48 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, October 31st. Stockholders of record on Thursday, September 30th will be issued a $0.6625 dividend. The ex-dividend date is Wednesday, September 29th. This represents a $2.65 dividend on an annualized basis and a dividend yield of 4.54%. Edison International’s dividend payout ratio (DPR) is presently 58.63%.

Several hedge funds and other institutional investors have recently bought and sold shares of EIX. Vanguard Group Inc. increased its holdings in Edison International by 0.8% during the second quarter. Vanguard Group Inc. now owns 43,257,702 shares of the utilities provider’s stock worth $2,501,160,000 after buying an additional 334,370 shares during the last quarter. BlackRock Inc. increased its holdings in Edison International by 4.0% during the second quarter. BlackRock Inc. now owns 38,902,545 shares of the utilities provider’s stock worth $2,249,345,000 after buying an additional 1,489,624 shares during the last quarter. Franklin Resources Inc. increased its holdings in Edison International by 1.9% during the second quarter. Franklin Resources Inc. now owns 17,446,425 shares of the utilities provider’s stock worth $1,008,752,000 after buying an additional 325,518 shares during the last quarter. Pzena Investment Management LLC increased its holdings in Edison International by 10.7% during the second quarter. Pzena Investment Management LLC now owns 14,712,945 shares of the utilities provider’s stock worth $850,702,000 after buying an additional 1,425,859 shares during the last quarter. Finally, Deutsche Bank AG increased its holdings in Edison International by 22.9% during the second quarter. Deutsche Bank AG now owns 7,923,588 shares of the utilities provider’s stock worth $458,142,000 after buying an additional 1,477,850 shares during the last quarter. Institutional investors own 86.85% of the company’s stock.

Edison International Company Profile

Edison International is a renewable energy company, which through its subsidiaries, generates and distributes electric power, and invests in energy services and technologies. The company was founded on July 4, 1886 and is headquartered in Rosemead, CA.

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Analyst Recommendations for Edison International (NYSE:EIX)

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