Edison International (NYSE:EIX) had its price target trimmed by Barclays from $70.00 to $65.00 in a research report released on Tuesday, BenzingaRatingsTable reports. The brokerage currently has an equal weight rating on the utilities provider’s stock.
Several other equities analysts also recently commented on EIX. Bank of America downgraded Edison International from a neutral rating to an underperform rating and cut their price objective for the company from $64.00 to $61.00 in a research report on Tuesday, January 15th. ValuEngine downgraded Edison International from a hold rating to a sell rating in a research report on Tuesday, January 15th. Zacks Investment Research raised Edison International from a hold rating to a buy rating and set a $61.00 price target on the stock in a research report on Friday, January 18th. Citigroup increased their price target on Edison International to $64.00 and gave the stock a buy rating in a research report on Thursday, January 24th. Finally, Wells Fargo & Co downgraded Edison International from an outperform rating to a market perform rating and set a $65.00 price target on the stock. in a research report on Monday, February 11th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the stock. Edison International presently has a consensus rating of Hold and an average price target of $70.59.
Edison International stock traded up $0.01 during mid-day trading on Tuesday, hitting $59.96. The company’s stock had a trading volume of 31,734 shares, compared to its average volume of 1,683,874. The company has a market capitalization of $19.55 billion, a PE ratio of 14.44, a price-to-earnings-growth ratio of 2.48 and a beta of -0.05. The company has a quick ratio of 0.69, a current ratio of 0.74 and a debt-to-equity ratio of 1.23. Edison International has a one year low of $45.50 and a one year high of $71.00.
Edison International (NYSE:EIX) last announced its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $0.63 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.88 by ($0.25). The business had revenue of $2.82 billion during the quarter, compared to the consensus estimate of $2.78 billion. Edison International had a negative net margin of 1.94% and a positive return on equity of 10.28%. The business’s revenue was up 10.1% compared to the same quarter last year. During the same period last year, the company earned $0.80 EPS. As a group, research analysts anticipate that Edison International will post 4.37 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th were given a dividend of $0.6125 per share. This represents a $2.45 dividend on an annualized basis and a dividend yield of 4.09%. The ex-dividend date was Thursday, March 28th. Edison International’s payout ratio is 59.04%.
A number of hedge funds have recently modified their holdings of EIX. Enlightenment Research LLC bought a new stake in Edison International during the fourth quarter valued at about $28,000. Essex Investment Management Co. LLC bought a new stake in Edison International during the fourth quarter valued at about $28,000. Liberty Wealth Management LLC bought a new stake in Edison International during the fourth quarter valued at about $29,000. Rehmann Capital Advisory Group boosted its position in Edison International by 57.2% during the fourth quarter. Rehmann Capital Advisory Group now owns 547 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 199 shares in the last quarter. Finally, Karp Capital Management Corp bought a new stake in Edison International during the fourth quarter valued at about $32,000. 84.66% of the stock is currently owned by institutional investors.
About Edison International
Edison International, through its subsidiaries, engages in the generation, transmission, and distribution of electricity in the United States. It generates electricity through hydroelectric, diesel/liquid petroleum gas, natural gas, nuclear, and photovoltaic sources. The company supplies electricity primarily to residential, commercial, industrial, agricultural, and other customers, as well as public authorities through transmission and distribution networks.
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