Edison International (EIX) Receives Average Recommendation of “Hold” from Brokerages
Shares of Edison International (NYSE:EIX) have earned an average rating of “Hold” from the fifteen research firms that are covering the firm, Marketbeat Ratings reports. Nine analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $85.40.
A number of brokerages have weighed in on EIX. BidaskClub raised Edison International from a “sell” rating to a “hold” rating in a report on Tuesday, August 22nd. Citigroup Inc. reissued a “neutral” rating and set a $84.00 price objective (down previously from $85.00) on shares of Edison International in a report on Monday, July 24th. Royal Bank Of Canada reissued a “buy” rating and set a $84.00 price objective on shares of Edison International in a report on Sunday, September 17th. Bank of America Corporation reissued a “buy” rating and set a $86.00 price objective on shares of Edison International in a report on Tuesday, October 24th. Finally, Jefferies Group LLC reissued a “hold” rating and set a $85.00 price objective on shares of Edison International in a report on Sunday, July 30th.
In related news, insider Ronald L. Litzinger sold 224,715 shares of the firm’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $80.54, for a total transaction of $18,098,546.10. Following the completion of the transaction, the insider now directly owns 14,121 shares of the company’s stock, valued at approximately $1,137,305.34. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.41% of the stock is owned by company insiders.
A number of large investors have recently made changes to their positions in the stock. Wells Fargo & Company MN raised its position in Edison International by 30.3% during the 3rd quarter. Wells Fargo & Company MN now owns 2,572,937 shares of the utilities provider’s stock worth $198,553,000 after purchasing an additional 598,402 shares during the last quarter. Zeke Capital Advisors LLC raised its position in Edison International by 39.3% during the 3rd quarter. Zeke Capital Advisors LLC now owns 3,868 shares of the utilities provider’s stock worth $298,000 after purchasing an additional 1,091 shares during the last quarter. Amalgamated Bank raised its position in Edison International by 1.9% during the 3rd quarter. Amalgamated Bank now owns 36,581 shares of the utilities provider’s stock worth $2,823,000 after purchasing an additional 679 shares during the last quarter. Twin Capital Management Inc. raised its position in Edison International by 19.6% during the 3rd quarter. Twin Capital Management Inc. now owns 64,730 shares of the utilities provider’s stock worth $4,995,000 after purchasing an additional 10,610 shares during the last quarter. Finally, Cadence Capital Management LLC raised its position in Edison International by 39.2% during the 3rd quarter. Cadence Capital Management LLC now owns 22,269 shares of the utilities provider’s stock worth $1,718,000 after purchasing an additional 6,268 shares during the last quarter. 81.68% of the stock is owned by institutional investors and hedge funds.
Shares of Edison International (EIX) traded down $0.28 during mid-day trading on Friday, hitting $80.06. The company’s stock had a trading volume of 1,232,100 shares, compared to its average volume of 1,737,503. The firm has a market cap of $26,084.43, a P/E ratio of 18.24, a PEG ratio of 2.90 and a beta of 0.24. Edison International has a 52-week low of $67.44 and a 52-week high of $82.82. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.47 and a current ratio of 0.51.
Edison International (NYSE:EIX) last issued its earnings results on Monday, October 30th. The utilities provider reported $1.43 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.33 by $0.10. The firm had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.53 billion. Edison International had a return on equity of 10.84% and a net margin of 13.18%. The company’s revenue was down 2.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.29 EPS. analysts expect that Edison International will post 4.33 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, October 31st. Investors of record on Friday, September 29th were given a dividend of $0.5425 per share. This represents a $2.17 annualized dividend and a yield of 2.71%. The ex-dividend date was Thursday, September 28th. Edison International’s dividend payout ratio is currently 48.98%.
About Edison International
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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