Edison International (NYSE:EIX) updated its FY16 earnings guidance on Thursday. The company provided earnings per share guidance of $3.81-4.01 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $3.89.
Several research analysts recently issued reports on the stock. BMO Capital Markets reiterated a buy rating on shares of Edison International in a research report on Monday, May 2nd. Jefferies Group upped their price target on shares of Edison International from $66.00 to $72.00 and gave the stock a hold rating in a research report on Tuesday, May 3rd. Deutsche Bank AG downgraded shares of Edison International from a buy rating to a hold rating and upped their price target for the stock from $67.00 to $71.00 in a research report on Monday, April 18th. Argus upped their target price on shares of Edison International from $76.00 to $81.00 and gave the company a buy rating in a research report on Wednesday, April 20th. Finally, Vetr upgraded shares of Edison International from a sell rating to a hold rating and set a $72.50 target price on the stock in a research report on Monday, April 18th. Ten investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Edison International currently has an average rating of Hold and a consensus target price of $75.29.
Shares of Edison International (NYSE:EIX) traded up 0.57% during trading on Thursday, hitting $76.45. 1,236,316 shares of the stock traded hands. The company has a 50-day moving average of $75.95 and a 200-day moving average of $69.92. Edison International has a 52 week low of $56.68 and a 52 week high of $78.72. The firm has a market cap of $24.91 billion and a P/E ratio of 25.37.
In other news, insider Ronald L. Litzinger sold 12,677 shares of the business’s stock in a transaction dated Monday, May 16th. The stock was sold at an average price of $71.28, for a total transaction of $903,616.56. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Gaddi H. Vasquez sold 6,842 shares of the business’s stock in a transaction dated Friday, June 10th. The stock was sold at an average price of $73.84, for a total value of $505,213.28. Following the sale, the senior vice president now owns 6,619 shares in the company, valued at $488,746.96. The disclosure for this sale can be found here.
Edison International is the parent holding company of Southern California Edison Company (SCE). SCE is engaged in the business of supplying and delivering electricity to an approximately 50,000 square mile area of southern California. It is also the parent company of subsidiaries that are engaged in competitive businesses focused on providing energy services to commercial and industrial customers, including distributed resources, engaging in transmission opportunities, and exploring distributed water treatment and recycling.
