Edison International Upgraded to “Buy” at ISI Group (EIX)
Edison International (NYSE:EIX) was upgraded by investment analysts at ISI Group from a “neutral” rating to a “buy” rating in a note issued to investors on Tuesday, TheFlyOnTheWall.com reports.
Edison International (NYSE:EIX) traded up 1.74% during mid-day trading on Tuesday, hitting $46.27. 2,785,656 shares of the company’s stock traded hands. Edison International has a one year low of $44.26 and a one year high of $54.19. The stock’s 50-day moving average is $45.8 and its 200-day moving average is $47.14. The company has a market cap of $15.075 billion and a price-to-earnings ratio of 197.74.
Edison International (NYSE:EIX) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $1.42 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.13 by $0.29. The company had revenue of $3.96 billion for the quarter, compared to the consensus estimate of $3.43 billion. During the same quarter last year, the company posted $0.72 earnings per share. Edison International’s revenue was up 6.1% compared to the same quarter last year. Analysts expect that Edison International will post $3.64 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, January 31st. Stockholders of record on Tuesday, December 31st will be paid a dividend of 0.355 per share. This represents a $1.42 annualized dividend and a dividend yield of 3.07%. The ex-dividend date is Friday, December 27th. This is a boost from Edison International’s previous quarterly dividend of $0.34.
Other equities research analysts have also recently issued reports about the stock. Analysts at Tudor Pickering initiated coverage on shares of Edison International in a research note to investors on Thursday, December 19th. They set an “accumulate” rating on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Edison International in a research note to investors on Friday, December 13th. They now have a $48.00 price target on the stock. Finally, analysts at Barclays cut their price target on shares of Edison International from $53.00 to $50.00 in a research note to investors on Monday, December 2nd. They now have an “overweight” rating on the stock. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $51.19.
Edison International, is a holding company of Southern California Edison Company (NYSE:EIX).
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