ValuEngine upgraded shares of Edison International (NYSE:EIX) from a hold rating to a buy rating in a research report released on Wednesday.
Other research analysts have also recently issued reports about the stock. BidaskClub upgraded shares of Edison International from a sell rating to a hold rating in a research note on Tuesday, August 22nd. Citigroup Inc. reiterated a neutral rating and issued a $84.00 target price (down from $85.00) on shares of Edison International in a research note on Monday, July 24th. Royal Bank Of Canada reiterated a buy rating and issued a $84.00 target price on shares of Edison International in a research note on Sunday, September 17th. Bank of America Corporation reiterated a buy rating and issued a $86.00 target price on shares of Edison International in a research note on Tuesday, October 24th. Finally, Jefferies Group LLC reiterated a hold rating and issued a $85.00 target price on shares of Edison International in a research note on Sunday, July 30th. Nine research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Edison International currently has a consensus rating of Hold and a consensus target price of $85.08.
Shares of Edison International (NYSE:EIX) opened at $80.89 on Wednesday. Edison International has a 52-week low of $67.73 and a 52-week high of $83.38. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.51 and a quick ratio of 0.47. The stock has a market cap of $26,640.00, a PE ratio of 18.83, a price-to-earnings-growth ratio of 3.01 and a beta of 0.24.
Edison International (NYSE:EIX) last issued its quarterly earnings data on Monday, October 30th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, topping the Zacks’ 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 during the quarter, compared to the consensus estimate of $3.53 billion. During the same period in the prior year, the firm posted $1.29 EPS. The firm’s quarterly revenue was down 2.5% compared to the same quarter last year. equities analysts predict that Edison International will post 4.31 earnings per share for the current fiscal year.
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The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 31st. Investors of record on Friday, September 29th were paid a dividend of $0.5425 per share. This represents a $2.17 dividend on an annualized basis and a dividend yield of 2.68%. The ex-dividend date was Thursday, September 28th. Edison International’s payout ratio is currently 49.54%.
In related news, insider Ronald L. Litzinger sold 224,718 shares of the company’s stock in a transaction that occurred on 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 sale, the insider now owns 14,121 shares of the company’s stock, valued at approximately $1,157,922. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.41% of the company’s stock.
A number of institutional investors have recently bought and sold shares of EIX. Amica Retiree Medical Trust bought a new stake in Edison International during the 3rd quarter worth approximately $138,000. Sun Life Financial INC increased its holdings in Edison International by 16,935.7% during the 2nd quarter. Sun Life Financial INC now owns 2,385 shares of the utilities provider’s stock worth $186,000 after acquiring an additional 2,371 shares during the period. TCI Wealth Advisors Inc. increased its holdings in Edison International by 139.7% during the 3rd quarter. TCI Wealth Advisors Inc. now owns 2,630 shares of the utilities provider’s stock worth $203,000 after acquiring an additional 1,533 shares during the period. OxFORD Asset Management LLP bought a new stake in Edison International during the 2nd quarter worth approximately $204,000. Finally, Shelton Capital Management bought a new stake in Edison International during the 2nd quarter worth approximately $206,000. 80.88% of the stock is currently owned by institutional investors and hedge funds.
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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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