Edison International (NYSE:EIX) Given Average Rating of “Hold” by Brokerages

Shares of Edison International (NYSE:EIXGet Rating) have been assigned a consensus recommendation of “Hold” from the eleven analysts that are currently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $72.44.

Several equities research analysts have recently weighed in on EIX shares. Morgan Stanley lowered shares of Edison International from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $69.00 to $62.00 in a report on Tuesday, September 6th. Bank of America reaffirmed an “underperform” rating on shares of Edison International in a report on Thursday, July 14th. UBS Group decreased their price objective on shares of Edison International from $73.00 to $68.00 and set a “neutral” rating on the stock in a report on Thursday, June 30th. Mizuho decreased their price objective on shares of Edison International from $72.00 to $71.00 and set a “neutral” rating on the stock in a report on Wednesday, August 24th. Finally, Evercore ISI decreased their price objective on shares of Edison International to $71.00 in a report on Tuesday, August 9th.

Edison International Trading Down 2.2 %

Shares of EIX stock opened at $66.21 on Thursday. The firm has a fifty day moving average of $67.46 and a 200-day moving average of $67.16. The company has a debt-to-equity ratio of 1.60, a quick ratio of 0.56 and a current ratio of 0.61. Edison International has a 52-week low of $54.98 and a 52-week high of $73.32. The stock has a market cap of $25.25 billion, a price-to-earnings ratio of 50.16, a P/E/G ratio of 5.20 and a beta of 0.67.

Edison International (NYSE:EIXGet Rating) last posted its earnings results on Thursday, July 28th. The utilities provider reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.04. Edison International had a net margin of 3.63% and a return on equity of 12.42%. The business had revenue of $4.01 billion for the quarter, compared to analyst estimates of $3.57 billion. During the same quarter in the prior year, the firm earned $0.94 EPS. The firm’s quarterly revenue was up 20.9% compared to the same quarter last year. On average, equities research analysts forecast that Edison International will post 4.43 earnings per share for the current fiscal year.

Edison International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 31st. Stockholders of record on Friday, September 30th will be paid a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 4.23%. The ex-dividend date is Thursday, September 29th. Edison International’s dividend payout ratio (DPR) is presently 212.12%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Godsey & Gibb Associates bought a new position in shares of Edison International in the 1st quarter valued at about $25,000. San Luis Wealth Advisors LLC bought a new position in shares of Edison International in the 1st quarter valued at about $25,000. Prospera Financial Services Inc bought a new position in shares of Edison International in the 1st quarter valued at about $27,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its stake in shares of Edison International by 128.5% in the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 457 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 257 shares during the last quarter. Finally, CVA Family Office LLC boosted its stake in shares of Edison International by 144.7% in the 1st quarter. CVA Family Office LLC now owns 465 shares of the utilities provider’s stock valued at $33,000 after purchasing an additional 275 shares during the last quarter. Institutional investors own 87.21% of the company’s stock.

About Edison International

(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.

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