Edison International Given Average Recommendation of “Buy” by Analysts (NYSE:EIX)
Shares of Edison International (NYSE:EIX) have received a consensus rating of “Buy” from the twelve analysts that are presently covering the company, Analyst Ratings News reports. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $60.91.
Edison International (NYSE:EIX) opened at 58.49 on Tuesday. Edison International has a 1-year low of $44.26 and a 1-year high of $59.18. The stock’s 50-day moving average is $56.70 and its 200-day moving average is $54.96. The company has a market cap of $19.057 billion and a price-to-earnings ratio of 13.23.
Edison International (NYSE:EIX) last announced its earnings results on Thursday, July 31st. The company reported $1.08 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.78 by $0.30. The company had revenue of $3.02 billion for the quarter, compared to the consensus estimate of $3.05 billion. During the same quarter in the prior year, the company posted $0.79 earnings per share. The company’s quarterly revenue was down 1.0% on a year-over-year basis. Analysts expect that Edison International will post $3.87 EPS for the current fiscal year.
Several analysts have recently commented on the stock. Analysts at BMO Capital Markets upgraded shares of Edison International from a “market perform” rating to an “outperform” rating in a research note on Friday. They now have a $64.00 price target on the stock, up previously from $59.00. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Edison International in a research note on Monday, July 28th. They now have a $59.00 price target on the stock. Finally, analysts at Argus upgraded shares of Edison International from a “hold” rating to a “buy” rating in a research note on Friday, July 25th. They now have a $65.00 price target on the stock. They noted that the move was a valuation call.
In other Edison International news, VP Robert L. Adler sold 100,962 shares of the stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $57.39, for a total transaction of $5,794,209.18. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
Edison International, is a holding company of Southern California Edison Company (NYSE:EIX).
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