Edison International (EIX) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Edison International (NYSE:EIX) have been assigned a consensus recommendation of “Hold” from the eighteen brokerages that are presently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $80.50.

A number of research analysts recently issued reports on the company. SunTrust Banks reiterated a “buy” rating and set a $85.00 price objective on shares of Edison International in a research note on Thursday, December 7th. Goldman Sachs Group set a $70.00 price objective on Edison International and gave the company a “hold” rating in a research note on Friday, December 15th. Citigroup boosted their price objective on Edison International from $84.00 to $87.00 and gave the company a “neutral” rating in a research note on Tuesday, October 17th. Zacks Investment Research downgraded Edison International from a “hold” rating to a “sell” rating in a research note on Tuesday. Finally, Royal Bank of Canada reiterated a “buy” rating and set a $74.00 price objective on shares of Edison International in a research note on Friday, December 22nd.

In related news, insider Ronald L. Litzinger sold 224,718 shares of the business’s stock in a transaction that occurred on 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 transaction, the insider now directly owns 14,121 shares of the company’s stock, valued at approximately $1,157,922. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.41% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of EIX. Amica Retiree Medical Trust purchased a new position in Edison International in the 3rd quarter worth approximately $138,000. Sun Life Financial INC lifted its holdings in Edison International by 16,935.7% in the 2nd quarter. Sun Life Financial INC now owns 2,385 shares of the utilities provider’s stock worth $186,000 after purchasing an additional 2,371 shares in the last quarter. TCI Wealth Advisors Inc. lifted its holdings in Edison International by 139.7% in the 3rd quarter. TCI Wealth Advisors Inc. now owns 2,630 shares of the utilities provider’s stock worth $203,000 after purchasing an additional 1,533 shares in the last quarter. OxFORD Asset Management LLP purchased a new position in Edison International in the 2nd quarter worth approximately $204,000. Finally, Shelton Capital Management purchased a new position in Edison International in the 2nd quarter worth approximately $206,000. 81.14% of the stock is currently owned by institutional investors.

Edison International (EIX) traded up $0.69 during trading on Monday, hitting $62.98. The company’s stock had a trading volume of 3,574,458 shares, compared to its average volume of 4,270,000. The company has a market cap of $20,520.00, a P/E ratio of 14.38, a P/E/G ratio of 2.29 and a beta of 0.24. Edison International has a 1-year low of $62.03 and a 1-year high of $83.38. The company has a current ratio of 0.51, a quick ratio of 0.47 and a debt-to-equity ratio of 0.80.

Edison International (NYSE:EIX) last released its quarterly earnings results on Monday, October 30th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.33 by $0.10. The business 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 business’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.29 EPS. equities research analysts forecast that Edison International will post 4.33 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 31st. Investors of record on Friday, December 29th will be issued a $0.605 dividend. The ex-dividend date is Thursday, December 28th. This is a boost from Edison International’s previous quarterly dividend of $0.54. This represents a $2.42 dividend on an annualized basis and a yield of 3.84%. Edison International’s payout ratio is currently 55.25%.

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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.

Analyst Recommendations for Edison International (NYSE:EIX)

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