Edison International (EIX) – Investment Analysts’ Recent Ratings Changes
Several brokerages have updated their recommendations and price targets on shares of Edison International (NYSE: EIX) in the last few weeks:
- 10/4/2016 – Edison International had its price target lowered by analysts at Argus from $86.00 to $81.00. They now have a “buy” rating on the stock.
- 10/4/2016 – Edison International had its price target lowered by analysts at Citigroup Inc. from $79.00 to $76.00. They now have a “neutral” rating on the stock.
- 9/27/2016 – Edison International was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $85.00 price target on the stock. According to Zacks, “Edison International remains focused on its transmission and distribution infrastructural development programs, and expansion of its operations. Its SCE unit targets average annual rate base and earnings growth of 7% through 2017 driven by infrastructural investment. In addition, Edison International boasts a solid financial position backed by strong cash generation capacity. However, the company presents a lower risk profile compared to its utility-only peers, with a strong portfolio of regulated utility assets and well-managed merchant energy operations. Meanwhile, any change in environmental rules, adverse decision of regulatory bodies, and power and coal price volatility are causes of concern. Moreover, any adverse decision on a General Rate Case (GRC) will greatly affect the utility's earnings growth, the company’s performance is subject to approvals from regulatory bodies.”
- 9/26/2016 – Edison International had its price target raised by analysts at SunTrust Banks Inc. from $82.00 to $84.00. They now have a “buy” rating on the stock.
- 9/4/2016 – Edison International was given a new $78.00 price target on by analysts at Deutsche Bank AG. They now have a “hold” rating on the stock.
- 9/2/2016 – Edison International had its “hold” rating reaffirmed by analysts at Jefferies Group. They now have a $80.00 price target on the stock.
Shares of Edison International (NYSE:EIX) traded up 0.99% during trading on Wednesday, hitting $70.10. The stock had a trading volume of 942,802 shares. Edison International has a 52 week low of $57.51 and a 52 week high of $78.72. The stock has a market capitalization of $22.84 billion, a price-to-earnings ratio of 25.99 and a beta of 0.23. The firm has a 50 day moving average price of $72.68 and a 200-day moving average price of $73.19.
Edison International (NYSE:EIX) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.85 EPS for the quarter, missing the consensus estimate of $0.97 by $0.12. The firm 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%. Edison International’s revenue for the quarter was down 4.5% compared to the same quarter last year. During the same quarter last year, the company posted $1.16 earnings per share. On average, equities research analysts forecast that Edison International will post $3.91 EPS for the current fiscal year.
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The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 31st. Stockholders of record on Friday, September 30th will be given a dividend of $0.48 per share. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $1.92 annualized dividend and a dividend yield of 2.77%. Edison International’s dividend payout ratio (DPR) is presently 71.11%.
In related news, Director Jagjeet S. Bindra sold 3,995 shares of the firm’s stock in a transaction that occurred on Wednesday, September 7th. The stock was sold at an average price of $73.80, for a total transaction of $294,831.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Ronald L. Litzinger sold 38,084 shares of the firm’s stock in a transaction that occurred on Monday, September 12th. The stock was sold at an average price of $72.10, for a total value of $2,745,856.40. Following the transaction, the insider now owns 12,053 shares in the company, valued at $869,021.30. The disclosure for this sale can be found here. Insiders own 1.51% of the company’s stock.
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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