Citigroup Inc. Reiterates “Neutral” Rating for Edison International (EIX)
Edison International (NYSE:EIX)‘s stock had its “neutral” rating reiterated by equities researchers at Citigroup Inc. in a research report issued on Monday. They presently have a $84.00 price target on the utilities provider’s stock, down from their prior price target of $85.00. Citigroup Inc.’s price target would indicate a potential upside of 7.03% from the company’s current price.
A number of other equities analysts have also recently weighed in on the company. BidaskClub upgraded Edison International from a “sell” rating to a “hold” rating in a report on Monday, June 19th. UBS AG cut Edison International from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $82.00 to $80.00 in a report on Wednesday, May 17th. Morgan Stanley reiterated an “equal weight” rating on shares of Edison International in a report on Tuesday, July 11th. BMO Capital Markets reiterated an “outperform” rating and set a $85.00 price target (up from $82.00) on shares of Edison International in a report on Wednesday, May 3rd. Finally, Wolfe Research cut Edison International from an “outperform” rating to a “market perform” rating in a report on Thursday, May 11th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $83.29.
Edison International (NYSE:EIX) traded down 0.63% on Monday, reaching $78.48. 1,729,573 shares of the company’s stock traded hands. Edison International has a 52 week low of $67.44 and a 52 week high of $82.82. The stock has a market capitalization of $25.57 billion, a price-to-earnings ratio of 18.59 and a beta of 0.23. The firm has a 50-day moving average price of $79.49 and a 200-day moving average price of $77.93.
Edison International (NYSE:EIX) last issued its earnings results on Monday, May 1st. The utilities provider reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.21. Edison International had a return on equity of 10.78% and a net margin of 12.82%. The business had revenue of $2.46 billion during the quarter, compared to the consensus estimate of $2.71 billion. During the same period last year, the company earned $0.82 EPS. The company’s revenue for the quarter was up .9% on a year-over-year basis. On average, analysts predict that Edison International will post $4.21 earnings per share for the current year.
In related news, Director W Brett White sold 2,500 shares of Edison International stock in a transaction that occurred on Wednesday, June 7th. The stock was sold at an average price of $81.67, for a total value of $204,175.00. Following the sale, the director now directly owns 2,500 shares in the company, valued at $204,175. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Ronald L. Litzinger sold 26,035 shares of Edison International stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $78.85, for a total value of $2,052,859.75. The disclosure for this sale can be found here. In the last three months, insiders sold 31,035 shares of company stock worth $2,460,285. Corporate insiders own 0.41% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. First American Trust increased its stake in Edison International by 69.7% in the fourth quarter. First American Trust now owns 55,973 shares of the utilities provider’s stock worth $3,314,000 after buying an additional 22,990 shares during the period. Nisa Investment Advisors increased its stake in Edison International by 20.4% in the fourth quarter. Nisa Investment Advisors now owns 28,900 shares of the utilities provider’s stock worth $1,711,000 after buying an additional 4,900 shares during the last quarter. Capstone Asset Management Company increased its stake in Edison International by 30.5% in the fourth quarter. Capstone Asset Management Company now owns 36,655 shares of the utilities provider’s stock worth $2,170,000 after buying an additional 8,575 shares during the last quarter. Chevy Chase Trust Holdings increased its stake in Edison International by 0.7% in the fourth quarter. Chevy Chase Trust Holdings now owns 270,195 shares of the utilities provider’s stock worth $15,998,000 after buying an additional 1,943 shares during the last quarter. Finally, Fourth Swedish National Pension Fund increased its stake in Edison International by 2.5% in the fourth quarter. Fourth Swedish National Pension Fund now owns 65,227 shares of the utilities provider’s stock worth $3,893,000 after buying an additional 1,612 shares during the last quarter. Hedge funds and other institutional investors own 81.64% of the company’s stock.
Edison International Company Profile
Edison International is the holding company of Southern California Edison Company (SCE). As of December 31, 2016, SCE, a public utility, was primarily engaged in the business of supplying and delivering electricity to an approximately 50,000 square mile area of southern California. The Company is also the parent company of Edison Energy Group, Inc (Edison Energy Group), a holding company for subsidiaries engaged in pursuing competitive business opportunities across energy services and distributed solar to commercial and industrial customers.
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