Edison International (NYSE:EIX)‘s stock had its “buy” rating restated by equities researchers at Royal Bank of Canada in a report released on Wednesday. They currently have a $70.00 price target on the utilities provider’s stock. Royal Bank of Canada’s price objective indicates a potential upside of 9.70% from the company’s previous close.
Several other analysts have also recently weighed in on EIX. Zacks Investment Research raised shares of Edison International from a “sell” rating to a “hold” rating in a research note on Wednesday. Morgan Stanley reissued an “equal weight” rating and set a $69.00 price target (down from $72.00) on shares of Edison International in a research note on Thursday, March 8th. SunTrust Banks set a $69.00 price target on shares of Edison International and gave the company a “buy” rating in a research note on Friday, February 23rd. Guggenheim raised shares of Edison International from a “neutral” rating to a “buy” rating in a research note on Friday, February 23rd. Finally, UBS Group started coverage on shares of Edison International in a research note on Friday, February 2nd. They set a “neutral” rating and a $67.00 price target on the stock. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and six have issued a buy rating to the stock. Edison International currently has an average rating of “Hold” and an average target price of $76.64.
Shares of Edison International (NYSE:EIX) traded up $1.74 during trading on Wednesday, reaching $63.81. 7,540,000 shares of the company’s stock traded hands, compared to its average volume of 3,590,000. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.53 and a quick ratio of 0.49. The company has a market capitalization of $20,790.00, a PE ratio of 20.32, a price-to-earnings-growth ratio of 2.45 and a beta of 0.20. Edison International has a 1 year low of $57.63 and a 1 year high of $83.38.
Edison International (NYSE:EIX) last issued its quarterly earnings data on Thursday, February 22nd. The utilities provider reported $1.10 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.93 by $0.17. The firm had revenue of $3.22 billion for the quarter, compared to analysts’ expectations of $2.98 billion. Edison International had a net margin of 5.59% and a return on equity of 10.86%. The company’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.02 earnings per share. equities analysts expect that Edison International will post 4.21 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently made changes to their positions in EIX. Maple Brown Abbott Ltd acquired a new position in Edison International in the fourth quarter valued at approximately $1,192,752,000. BlackRock Inc. lifted its holdings in Edison International by 7.4% in the fourth quarter. BlackRock Inc. now owns 26,746,136 shares of the utilities provider’s stock valued at $1,691,424,000 after buying an additional 1,832,822 shares during the period. USS Investment Management Ltd acquired a new position in Edison International in the third quarter valued at approximately $137,776,000. Old Mutual Global Investors UK Ltd. lifted its holdings in Edison International by 170.6% in the fourth quarter. Old Mutual Global Investors UK Ltd. now owns 2,143,455 shares of the utilities provider’s stock valued at $135,552,000 after buying an additional 1,351,336 shares during the period. Finally, Zimmer Partners LP lifted its holdings in Edison International by 211.9% in the fourth quarter. Zimmer Partners LP now owns 1,871,200 shares of the utilities provider’s stock valued at $118,335,000 after buying an additional 1,271,200 shares during the period. Institutional investors and hedge funds own 82.26% of the company’s stock.
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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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