Shares of Edison International (NYSE:EIX – Get Free Report) have been assigned an average recommendation of “Reduce” from the fifteen brokerages that are covering the company, Marketbeat Ratings reports. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $60.58.
A number of research analysts have recently weighed in on EIX shares. The Goldman Sachs Group set a $67.00 target price on Edison International in a report on Thursday, October 15th. Argus lowered Edison International from a “buy” rating to a “hold” rating in a research report on Wednesday, August 26th. Morgan Stanley increased their price target on Edison International from $60.00 to $62.00 and gave the company an “underweight” rating in a research report on Wednesday, October 21st. Wells Fargo & Company cut their price objective on shares of Edison International from $62.00 to $59.00 and set an “underweight” rating on the stock in a report on Friday. Finally, HSBC began coverage on shares of Edison International in a report on Thursday, October 22nd. They set a “hold” rating and a $56.50 price objective on the stock.
Edison International Trading Up 1.7%
EIX opened at $59.78 on Friday. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.66 and a quick ratio of 0.61. Edison International has a fifty-two week low of $51.10 and a fifty-two week high of $81.62. The firm has a market capitalization of $23.01 billion, a PE ratio of 8.20, a P/E/G ratio of 2.49 and a beta of 0.62. The company’s 50-day moving average is $57.53 and its 200 day moving average is $67.72.
Edison International (NYSE:EIX – Get Free Report) last released its quarterly earnings results on Thursday, October 29th. The utilities provider reported $1.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.81 by $0.11. The business had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $5.34 billion. Edison International had a return on equity of 15.53% and a net margin of 20.30%. The company’s quarterly revenue was down 15.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.34 EPS. As a group, research analysts predict that Edison International will post 6.13 earnings per share for the current fiscal year.
Edison International Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Saturday, October 31st. Investors of record on Wednesday, October 7th were given a dividend of $0.8775 per share. This represents a $3.51 dividend on an annualized basis and a dividend yield of 5.9%. The ex-dividend date of this dividend was Wednesday, October 7th. Edison International’s dividend payout ratio (DPR) is presently 37.30%.
Insider Buying and Selling at Edison International
In related news, Director Peter Taylor sold 500 shares of the business’s stock in a transaction dated Monday, October 12th. The shares were sold at an average price of $55.56, for a total transaction of $27,780.00. Following the transaction, the director directly owned 33,212 shares in the company, valued at approximately $1,845,258.72. The trade was a 1.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.20% of the stock is owned by insiders.
Institutional Investors Weigh In On Edison International
Several institutional investors and hedge funds have recently added to or reduced their stakes in EIX. BlackRock Inc. bought a new position in shares of Edison International in the second quarter valued at approximately $3,340,412,000. Legal & General Group Plc bought a new stake in Edison International during the second quarter worth $329,766,000. Bank of New York Mellon Corp purchased a new position in Edison International in the second quarter worth $309,361,000. Amundi boosted its position in Edison International by 27.0% in the second quarter. Amundi now owns 3,570,726 shares of the utilities provider’s stock worth $265,843,000 after purchasing an additional 759,236 shares during the last quarter. Finally, Hsbc Holdings PLC purchased a new position in Edison International in the second quarter worth $261,275,000. Hedge funds and other institutional investors own 88.95% of the company’s stock.
Edison International Company Profile
Edison International (NYSE: EIX) is an electric power holding company based in California. Its principal subsidiary, Southern California Edison (SCE), is one of the largest electric utilities in the United States and delivers electricity across central, coastal and Southern California. SCE serves millions of residential, commercial and industrial customers through an extensive transmission and distribution network.
Edison International’s operations are focused on the generation, transmission and distribution of electricity, as well as supporting the transition to cleaner energy.
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