EIX has been the topic of several other reports. SunTrust Banks Inc. upped their target price on Edison International from $82.00 to $84.00 and gave the company a buy rating in a research report on Monday, September 26th. Jefferies Group reaffirmed a hold rating on shares of Edison International in a research report on Monday, July 11th. Zacks Investment Research raised Edison International from a hold rating to a buy rating and set a $85.00 target price on the stock in a research report on Tuesday, September 27th. Evercore ISI lowered Edison International from a buy rating to a hold rating and upped their target price for the company from $70.00 to $79.00 in a research report on Wednesday, July 6th. Finally, Argus reaffirmed a buy rating and set a $86.00 target price (up from $83.00) on shares of Edison International in a research report on Tuesday, July 5th. Nine investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock has an average rating of Hold and an average target price of $77.38.
Shares of Edison International (NYSE:EIX) opened at 69.89 on Tuesday. The stock has a market capitalization of $22.77 billion, a PE ratio of 25.91 and a beta of 0.23. Edison International has a 52-week low of $57.51 and a 52-week high of $78.72. The company’s 50 day moving average price is $72.93 and its 200 day moving average price is $73.20.
Edison International (NYSE:EIX) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.85 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.97 by $0.12. The company earned $2.78 billion during the quarter, compared to the consensus estimate of $3.18 billion. Edison International had a return on equity of 9.13% and a net margin of 8.56%. The company’s revenue was down 4.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.16 earnings per share. On average, equities research analysts anticipate 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 dividend of $0.48 per share. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $1.92 dividend on an annualized basis and a yield of 2.75%. Edison International’s dividend payout ratio is currently 71.11%.
In other Edison International news, 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 sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Jagjeet S. Bindra sold 3,995 shares of the stock in a transaction that occurred on Wednesday, September 7th. The stock was sold at an average price of $73.80, for a total value of $294,831.00. The disclosure for this sale can be found here. Company insiders own 1.51% of the company’s stock.
A number of institutional investors have recently modified their holdings of the company. Baystate Wealth Management LLC increased its position in shares of Edison International by 0.5% in the third quarter. Baystate Wealth Management LLC now owns 3,042 shares of the company’s stock worth $220,000 after buying an additional 16 shares in the last quarter. Eqis Capital Management Inc. increased its position in shares of Edison International by 9.6% in the third quarter. Eqis Capital Management Inc. now owns 8,032 shares of the company’s stock worth $580,000 after buying an additional 705 shares in the last quarter. Washington Trust Bank increased its position in shares of Edison International by 0.9% in the third quarter. Washington Trust Bank now owns 2,777 shares of the company’s stock worth $201,000 after buying an additional 25 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund acquired a new position in shares of Edison International during the second quarter worth about $1,022,000. Finally, Kentucky Retirement Systems acquired a new position in shares of Edison International during the second quarter worth about $2,152,000. Institutional investors own 81.95% of the company’s stock.
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.
Receive News & Ratings for Edison International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Edison International and related companies with MarketBeat.com's FREE daily email newsletter.