Edison International (NYSE:EIX) has been given a $69.00 price target by equities researchers at SunTrust Banks in a research report issued to clients and investors on Friday. The brokerage currently has a “buy” rating on the utilities provider’s stock. SunTrust Banks’ target price would indicate a potential upside of 10.99% from the stock’s current price. SunTrust Banks also issued estimates for Edison International’s Q1 2018 earnings at $1.05 EPS, Q2 2018 earnings at $0.80 EPS, Q3 2018 earnings at $1.36 EPS, Q4 2018 earnings at $1.04 EPS, FY2018 earnings at $4.25 EPS, Q1 2019 earnings at $1.14 EPS, Q2 2019 earnings at $0.87 EPS, Q3 2019 earnings at $1.48 EPS, Q4 2019 earnings at $1.13 EPS and FY2019 earnings at $4.61 EPS.
A number of other research analysts have also recently issued reports on EIX. TheStreet cut Edison International from a “b-” rating to a “c” rating in a report on Thursday. Guggenheim raised Edison International from a “neutral” rating to a “buy” rating in a report on Friday. Morgan Stanley cut their price objective on Edison International from $76.00 to $71.00 and set an “equal weight” rating for the company in a report on Tuesday, February 13th. UBS Group began coverage on Edison International in a report on Friday, February 2nd. They set a “neutral” rating and a $67.00 price objective for the company. Finally, ValuEngine cut Edison International from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and six have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $77.07.
Edison International (NYSE:EIX) opened at $62.17 on Friday. The stock has a market capitalization of $20,260.00, a price-to-earnings ratio of 19.80, a price-to-earnings-growth ratio of 2.20 and a beta of 0.17. Edison International has a twelve month low of $57.63 and a twelve month high of $83.38. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.47 and a current ratio of 0.51.
Edison International (NYSE:EIX) last issued its quarterly earnings data on Thursday, February 22nd. The utilities provider reported $1.10 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.93 by $0.17. The company had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $2.98 billion. Edison International had a return on equity of 10.73% and a net margin of 5.59%. The business’s revenue was up 11.7% on a year-over-year basis. During the same period last year, the business earned $1.02 earnings per share. equities research analysts anticipate that Edison International will post 4.26 EPS for the current year.
Several institutional investors have recently added to or reduced their stakes in EIX. Maple Brown Abbott Ltd bought a new position in shares of Edison International in the fourth quarter valued at about $1,192,752,000. BlackRock Inc. increased its position in Edison International by 7.4% in the fourth quarter. BlackRock Inc. now owns 26,746,136 shares of the utilities provider’s stock worth $1,691,424,000 after purchasing an additional 1,832,822 shares during the period. USS Investment Management Ltd acquired a new stake in Edison International in the third quarter worth about $137,776,000. Old Mutual Global Investors UK Ltd. increased its position 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 worth $135,552,000 after purchasing an additional 1,351,336 shares during the period. Finally, Zimmer Partners LP increased its position 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 worth $118,335,000 after purchasing an additional 1,271,200 shares during the period. 80.57% of the stock is owned by institutional investors and hedge funds.
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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