Edison International’s (EIX) Hold Rating Reaffirmed at Citigroup

Edison International (NYSE:EIX)‘s stock had its “hold” rating restated by investment analysts at Citigroup in a research note issued to investors on Monday. They presently have a $66.00 price objective on the utilities provider’s stock. Citigroup’s target price points to a potential upside of 6.25% from the company’s current price.

Several other brokerages have also issued reports on EIX. Zacks Investment Research upgraded shares of Edison International from a “sell” rating to a “hold” rating in a research report on Friday. ValuEngine upgraded shares of Edison International from a “hold” rating to a “buy” rating in a research report on Wednesday, November 15th. SunTrust Banks restated a “buy” rating and set a $89.00 price target on shares of Edison International in a research report on Monday, October 30th. Edward Jones lowered shares of Edison International from a “hold” rating to a “sell” rating in a research report on Wednesday, December 27th. Finally, Mizuho lowered shares of Edison International from a “buy” rating to a “neutral” rating in a research report on Wednesday, December 6th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and five have assigned a buy rating to the company. Edison International has an average rating of “Hold” and an average price target of $79.50.

Shares of Edison International (EIX) traded up $0.20 during midday trading on Monday, hitting $62.12. 3,222,200 shares of the stock traded hands, compared to its average volume of 3,585,185. Edison International has a 1-year low of $60.64 and a 1-year high of $83.38. The firm has a market capitalization of $20,170.00, a price-to-earnings ratio of 14.18, a price-to-earnings-growth ratio of 2.29 and a beta of 0.24. The company has a current ratio of 0.51, a quick ratio of 0.47 and a debt-to-equity ratio of 0.80.

Edison International (NYSE:EIX) last announced its earnings results on Monday, October 30th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.33 by $0.10. Edison International had a net margin of 13.18% and a return on equity of 10.84%. The business had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.53 billion. During the same quarter last year, the business earned $1.29 earnings per share. The company’s revenue for the quarter was down 2.5% compared to the same quarter last year. equities analysts expect that Edison International will post 4.32 EPS for the current fiscal year.

In related news, insider Ronald L. Litzinger sold 224,718 shares of the business’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $82.00, for a total transaction of $18,426,876.00. Following the transaction, the insider now directly owns 14,121 shares in the company, valued at $1,157,922. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.41% of the company’s stock.

Hedge funds have recently modified their holdings of the business. Amica Retiree Medical Trust purchased a new position in Edison International during the third quarter worth about $138,000. Sun Life Financial INC raised its stake in Edison International by 16,935.7% during the second quarter. Sun Life Financial INC now owns 2,385 shares of the utilities provider’s stock worth $186,000 after purchasing an additional 2,371 shares during the period. First Command Financial Services Inc. purchased a new position in Edison International during the fourth quarter worth about $154,000. OxFORD Asset Management LLP purchased a new position in Edison International during the second quarter worth about $204,000. Finally, TCI Wealth Advisors Inc. raised its stake in Edison International by 139.7% during the third quarter. TCI Wealth Advisors Inc. now owns 2,630 shares of the utilities provider’s stock worth $203,000 after purchasing an additional 1,533 shares during the period. 80.57% of the stock is currently owned by institutional investors.

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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.

Analyst Recommendations for Edison International (NYSE:EIX)

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