SunTrust Raises Edison International Price Target to $62.00 (EIX)
SunTrust boosted their price target on shares of Edison International (NYSE:EIX) from $61.00 to $62.00 in a research note issued on Tuesday. SunTrust’s price objective would indicate a potential upside of 4.84% from the stock’s previous close.
A number of other analysts have also recently weighed in on EIX. 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 analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Edison International currently has an average rating of “Buy” and an average target price of $61.00.
Edison International (NYSE:EIX) traded down 1.10% on Tuesday, hitting $58.49. The stock had a trading volume of 783,899 shares. Edison International has a one year low of $44.26 and a one year high of $59.18. The stock has a 50-day moving average of $56.97 and a 200-day moving average of $55.32. The company has a market cap of $19.057 billion and a price-to-earnings ratio of 13.42.
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 previous year, the company posted $0.79 earnings per share. The company’s revenue for the quarter was down 1.0% on a year-over-year basis. On average, analysts predict that Edison International will post $3.87 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, October 31st. Investors 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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