Edison International Hits New 1-Year High Following Analyst Upgrade (EIX)
Shares of Edison International (NYSE:EIX) hit a new 52-week high during trading on Tuesday after SunTrust raised their price target on the stock from $61.00 to $62.00, StockRatingsNetwork.com reports. The stock traded as high as $59.35 and last traded at $58.43, with a volume of 922,719 shares. The stock had previously closed at $59.14.
EIX has been the subject of a number of other recent research reports. 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, August 22nd. 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. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Edison International presently has a consensus rating of “Buy” and an average price target of $61.00.
The stock’s 50-day moving average is $56.97 and its 200-day moving average is $55.32. The company has a market cap of $19.031 billion and a P/E ratio of 13.42.
Edison International (NYSE:EIX) last released its earnings data 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. Edison International’s revenue was down 1.0% compared to the same quarter last year. Analysts expect that Edison International will post $3.87 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, October 31st. Shareholders of record on Tuesday, September 30th will be paid a dividend of $0.355 per share. This represents a $1.42 annualized dividend and a dividend yield of 2.40%. The ex-dividend date is Friday, September 26th.
Edison International, is a holding company of Southern California Edison Company (NYSE:EIX).
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