Edison International (NYSE:EIX) had its price objective hoisted by SunTrust Banks Inc. from $82.00 to $84.00 in a research note issued to investors on Monday morning. SunTrust Banks Inc. currently has a buy rating on the stock.
A number of other research analysts have also recently commented on the company. BMO Capital Markets reaffirmed an outperform rating and set a $82.00 target price (up previously from $79.00) on shares of Edison International in a research note on Monday, August 1st. Argus reaffirmed a buy rating and set a $86.00 target price (up previously from $83.00) on shares of Edison International in a research note on Tuesday, July 5th. Evercore ISI cut 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 note on Wednesday, July 6th. Citigroup Inc. increased their price objective on Edison International from $70.00 to $79.00 and gave the stock a neutral rating in a research note on Wednesday, July 20th. Finally, Zacks Investment Research cut Edison International from a buy rating to a hold rating in a research note on Wednesday, June 22nd. Nine research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Edison International currently has a consensus rating of Hold and a consensus target price of $78.04.
Edison International (NYSE:EIX) traded down 0.62% during mid-day trading on Monday, hitting $75.08. The company’s stock had a trading volume of 222,841 shares. Edison International has a 12-month low of $57.51 and a 12-month high of $78.72. The firm’s 50-day moving average is $73.80 and its 200-day moving average is $73.19. The company has a market cap of $24.46 billion, a P/E ratio of 27.84 and a beta of 0.17.
Edison International (NYSE:EIX) last released its earnings results on Thursday, July 28th. The company reported $0.85 EPS for the quarter, missing analysts’ consensus estimates of $0.97 by $0.12. The business had revenue of $2.78 billion for the quarter, compared to the consensus estimate of $3.18 billion. Edison International had a net margin of 8.56% and a return on equity of 9.13%. The company’s quarterly revenue was down 4.5% compared to the same quarter last year. During the same period in the prior year, the company posted $1.16 EPS. Analysts predict that Edison International will post $3.89 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 31st. Stockholders of record on Friday, September 30th will be issued a dividend of $0.48 per share. The ex-dividend date is Wednesday, September 28th. This represents a $1.92 annualized dividend and a dividend yield of 2.54%. Edison International’s dividend payout ratio is presently 71.11%.
In related news, Director Jagjeet S. Bindra sold 3,995 shares of the company’s stock in a transaction on Wednesday, September 7th. The stock was 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 company’s stock in a transaction on Wednesday, September 14th. The shares were sold at an average price of $71.87, for a total value of $216,472.44. The disclosure for this sale can be found here. Insiders own 1.51% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in EIX. Pacad Investment Ltd. purchased a new position in Edison International during the second quarter valued at about $109,000. Pinkerton Retirement Specialists LLC purchased a new position in Edison International during the second quarter valued at about $130,000. Integrated Investment Consultants LLC increased its position in Edison International by 9.3% in the second quarter. Integrated Investment Consultants LLC now owns 2,001 shares of the company’s stock valued at $155,000 after buying an additional 170 shares during the last quarter. Invictus RG purchased a new position in Edison International during the first quarter valued at about $178,000. Finally, Pitcairn Co. purchased a new position in Edison International during the second quarter valued at about $202,000. 81.95% of the stock is currently 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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