Other equities analysts have also issued research reports about the stock. SunTrust Banks set a $72.00 target price on shares of Edison International and gave the company a buy rating in a report on Monday, March 19th. Royal Bank of Canada restated a buy rating and issued a $70.00 target price on shares of Edison International in a report on Wednesday, March 14th. Morgan Stanley boosted their target price on shares of Edison International from $69.00 to $72.00 and gave the company an equal weight rating in a report on Monday, April 16th. Zacks Investment Research upgraded shares of Edison International from a sell rating to a hold rating in a report on Wednesday, March 14th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Edison International from $64.00 to $66.00 and gave the company a hold rating in a report on Tuesday, April 10th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and six have assigned a buy rating to the stock. Edison International has an average rating of Hold and a consensus target price of $75.62.
Edison International opened at $66.26 on Thursday, MarketBeat Ratings reports. The firm has a market capitalization of $21.27 billion, a P/E ratio of 14.72, a PEG ratio of 2.78 and a beta of 0.16. The company has a current ratio of 0.64, a quick ratio of 0.59 and a debt-to-equity ratio of 0.96. Edison International has a 12-month low of $57.63 and a 12-month high of $83.38.
Edison International (NYSE:EIX) last released its earnings results on Tuesday, May 1st. The utilities provider reported $0.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.91 by ($0.11). The firm had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.49 billion. Edison International had a net margin of 4.38% and a return on equity of 10.22%. Edison International’s quarterly revenue was up 4.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.85 EPS. equities analysts anticipate that Edison International will post 4.1 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 31st. Stockholders of record on Monday, July 2nd will be issued a dividend of $0.605 per share. The ex-dividend date is Friday, June 29th. This represents a $2.42 annualized dividend and a dividend yield of 3.65%. Edison International’s dividend payout ratio is currently 53.78%.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. raised its holdings in shares of Edison International by 3.5% during the first quarter. BlackRock Inc. now owns 27,694,117 shares of the utilities provider’s stock valued at $1,763,006,000 after purchasing an additional 947,981 shares during the period. Pzena Investment Management LLC raised its holdings in shares of Edison International by 206.3% during the first quarter. Pzena Investment Management LLC now owns 5,475,064 shares of the utilities provider’s stock valued at $348,543,000 after purchasing an additional 3,687,476 shares during the period. Boston Partners raised its holdings in shares of Edison International by 361.8% during the first quarter. Boston Partners now owns 4,929,511 shares of the utilities provider’s stock valued at $313,813,000 after purchasing an additional 3,862,042 shares during the period. American Century Companies Inc. raised its holdings in shares of Edison International by 14.8% during the first quarter. American Century Companies Inc. now owns 4,086,346 shares of the utilities provider’s stock valued at $260,137,000 after purchasing an additional 526,694 shares during the period. Finally, Deutsche Bank AG raised its holdings in shares of Edison International by 4.6% during the fourth quarter. Deutsche Bank AG now owns 3,415,561 shares of the utilities provider’s stock valued at $215,994,000 after purchasing an additional 150,064 shares during the period. Hedge funds and other institutional investors own 82.06% of the company’s stock.
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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