Edison International (EIX) Stock Rating Reaffirmed by SunTrust Banks
Edison International (NYSE:EIX)‘s stock had its “buy” rating reaffirmed by SunTrust Banks in a research note issued on Tuesday. They currently have a $79.00 target price on the utilities provider’s stock. SunTrust Banks’ price target indicates a potential upside of 22.67% from the company’s previous close.
A number of other research firms also recently commented on EIX. Citigroup set a $87.00 price objective on Edison International and gave the company a “hold” rating in a report on Tuesday, December 12th. ValuEngine upgraded Edison International from a “hold” rating to a “buy” rating in a report on Wednesday, November 15th. Edward Jones downgraded Edison International from a “hold” rating to a “sell” rating in a report on Wednesday. Mizuho downgraded Edison International from a “buy” rating to a “neutral” rating in a report on Wednesday, December 6th. Finally, Morgan Stanley increased their price target on Edison International from $90.00 to $92.00 and gave the stock an “equal weight” rating in a report on Friday, September 8th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and five have issued a buy rating to the stock. Edison International has an average rating of “Hold” and a consensus price target of $81.64.
Shares of Edison International (EIX) opened at $64.40 on Tuesday. The company has a market capitalization of $20,860.00, a PE ratio of 14.70, a P/E/G ratio of 2.37 and a beta of 0.23. The company has a quick ratio of 0.47, a current ratio of 0.51 and a debt-to-equity ratio of 0.80. Edison International has a fifty-two week low of $62.67 and a fifty-two week high of $83.38.
Edison International (NYSE:EIX) last released its quarterly earnings data on Monday, October 30th. The utilities provider reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.33 by $0.10. The business had revenue of $3.67 billion during 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 firm’s revenue was down 2.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.29 earnings per share. equities analysts expect that Edison International will post 4.33 EPS for the current fiscal year.
In other Edison International news, insider Ronald L. Litzinger sold 224,718 shares of the stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $82.00, for a total value of $18,426,876.00. Following the completion of the sale, the insider now directly owns 14,121 shares in the company, valued at $1,157,922. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.41% of the stock is owned by corporate insiders.
Several hedge funds have recently bought and sold shares of EIX. USS Investment Management Ltd acquired a new position in shares of Edison International during the third quarter worth about $137,776,000. Capital International Investors acquired a new position in shares of Edison International during the third quarter worth about $95,783,000. Janus Henderson Group PLC boosted its position in shares of Edison International by 2,522.5% during the second quarter. Janus Henderson Group PLC now owns 1,234,840 shares of the utilities provider’s stock worth $96,552,000 after buying an additional 1,187,754 shares during the period. BT Investment Management Ltd acquired a new position in shares of Edison International during the second quarter worth about $55,640,000. Finally, Wells Fargo & Company MN boosted its position in shares of Edison International by 30.3% during the third quarter. Wells Fargo & Company MN now owns 2,572,937 shares of the utilities provider’s stock worth $198,553,000 after buying an additional 598,402 shares during the period. 81.14% of the stock is owned by institutional investors.
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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