Edison International (NYSE:EIX)‘s stock had its “buy” rating reissued by research analysts at SunTrust Banks, Inc. in a report issued on Monday, October 30th. They presently have a $89.00 target price on the utilities provider’s stock. SunTrust Banks, Inc.’s price target indicates a potential upside of 10.03% from the company’s current price. SunTrust Banks also issued estimates for Edison International’s Q4 2017 earnings at $0.92 EPS, FY2017 earnings at $4.32 EPS, Q3 2018 earnings at $1.40 EPS, Q4 2018 earnings at $0.93 EPS, Q1 2019 earnings at $1.22 EPS and Q3 2019 earnings at $1.51 EPS.
Several other research analysts have also recently issued reports on the company. Zacks Investment Research raised Edison International from a “hold” rating to a “buy” rating and set a $86.00 target price on the stock in a research report on Thursday, July 6th. Morgan Stanley reaffirmed an “equal weight” rating on shares of Edison International in a research report on Tuesday, July 11th. Jefferies Group LLC reaffirmed a “hold” rating on shares of Edison International in a research report on Friday, July 14th. Citigroup Inc. reissued a “neutral” rating and issued a $84.00 price objective (down previously from $85.00) on shares of Edison International in a research report on Monday, July 24th. Finally, BidaskClub raised Edison International from a “strong sell” rating to a “sell” rating in a research report on Friday, August 4th. Nine research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $85.08.
Shares of Edison International (EIX) opened at $80.89 on Monday. The firm has a market capitalization of $26,354.85, a P/E ratio of 18.43, a price-to-earnings-growth ratio of 2.94 and a beta of 0.24. 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 1-year low of $67.73 and a 1-year 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 the Thomson Reuters’ consensus estimate of $1.33 by $0.10. The firm 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 company’s quarterly revenue was down 2.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.29 earnings per share. equities analysts anticipate that Edison International will post 4.31 EPS for the current year.
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In other news, insider Ronald L. Litzinger sold 224,718 shares of the company’s 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 transaction, the insider now directly owns 14,121 shares in the company, valued at approximately $1,157,922. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.41% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently modified their holdings of EIX. Amica Retiree Medical Trust purchased a new stake in Edison International during the 3rd quarter valued at about $138,000. Sun Life Financial INC boosted 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 valued at $186,000 after acquiring an additional 2,371 shares during the period. TCI Wealth Advisors Inc. boosted 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 valued at $203,000 after acquiring an additional 1,533 shares during the period. OxFORD Asset Management LLP purchased a new stake in Edison International during the 2nd quarter valued at about $204,000. Finally, Shelton Capital Management purchased a new stake in Edison International during the 2nd quarter valued at about $206,000. Institutional investors own 80.88% of the company’s stock.
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.
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