Brokerages Set Edison International (NYSE:EIX) Target Price at $71.75

Shares of Edison International (NYSE:EIXGet Rating) have been assigned a consensus recommendation of “Hold” from the ten ratings firms that are covering the firm, Marketbeat.com reports. Five analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $71.63.

A number of equities research analysts have recently weighed in on the stock. Citigroup lifted their price target on shares of Edison International from $67.00 to $79.00 in a research report on Wednesday, May 4th. Mizuho lowered shares of Edison International from a “buy” rating to a “neutral” rating and dropped their target price for the company from $82.00 to $72.00 in a report on Tuesday, May 10th. Morgan Stanley dropped their price objective on shares of Edison International from $65.00 to $64.00 and set an “equal weight” rating on the stock in a report on Monday. StockNews.com began coverage on shares of Edison International in a research report on Thursday, March 31st. They set a “hold” rating for the company. Finally, Wells Fargo & Company upped their price objective on shares of Edison International from $70.00 to $79.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 30th.

EIX traded up $0.02 on Friday, hitting $68.10. 20,644 shares of the stock traded hands, compared to its average volume of 2,059,169. Edison International has a 52 week low of $54.14 and a 52 week high of $73.32. The company has a current ratio of 0.63, a quick ratio of 0.58 and a debt-to-equity ratio of 1.59. The firm has a market capitalization of $25.93 billion, a PE ratio of 44.50, a P/E/G ratio of 3.79 and a beta of 0.64. The business has a fifty day moving average price of $69.05 and a two-hundred day moving average price of $66.04.

Edison International (NYSE:EIXGet Rating) last posted its quarterly earnings results on Tuesday, May 3rd. The utilities provider reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.33. The company had revenue of $3.97 billion for the quarter, compared to the consensus estimate of $3.34 billion. Edison International had a return on equity of 12.27% and a net margin of 4.22%. The firm’s quarterly revenue was up 34.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.79 EPS. On average, equities research analysts forecast that Edison International will post 4.45 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Saturday, April 30th. Shareholders of record on Thursday, March 31st were issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 4.11%. The ex-dividend date of this dividend was Wednesday, March 30th. Edison International’s payout ratio is presently 183.01%.

A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in Edison International by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 44,530,226 shares of the utilities provider’s stock worth $3,121,569,000 after purchasing an additional 731,841 shares during the period. State Street Corp raised its holdings in Edison International by 6.8% during the first quarter. State Street Corp now owns 27,888,808 shares of the utilities provider’s stock worth $1,973,974,000 after purchasing an additional 1,780,762 shares during the last quarter. Capital Research Global Investors increased its position in Edison International by 28.5% during the fourth quarter. Capital Research Global Investors now owns 21,567,094 shares of the utilities provider’s stock worth $1,471,953,000 after buying an additional 4,777,038 shares in the last quarter. Capital International Investors grew its position in shares of Edison International by 50.1% in the first quarter. Capital International Investors now owns 18,792,163 shares of the utilities provider’s stock valued at $1,317,330,000 after purchasing an additional 6,272,409 shares during the period. Finally, Pzena Investment Management LLC grew its position in Edison International by 1.3% during the fourth quarter. Pzena Investment Management LLC now owns 14,875,516 shares of the utilities provider’s stock valued at $1,015,254,000 after acquiring an additional 188,761 shares during the period. Institutional investors own 87.89% of the company’s stock.

Edison International Company Profile (Get Rating)

Edison International, through its subsidiaries, generates and distributes electric power. It delivers electricity to 15 million residential, commercial, industrial, public authorities, agricultural, and other customers across Southern, Central, and Coastal California. The company also provides energy solutions to commercial and industrial users.

Featured Articles

Analyst Recommendations for Edison International (NYSE:EIX)

Receive News & Ratings for Edison International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Edison International and related companies with MarketBeat.com's FREE daily email newsletter.