Brokerages Set Edison International (NYSE:EIX) Target Price at $73.60

Edison International (NYSE:EIX) has been assigned a consensus recommendation of “Hold” from the nine analysts that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $73.60.

Several brokerages have weighed in on EIX. StockNews.com raised Edison International from a “sell” rating to a “hold” rating in a report on Saturday, February 24th. Royal Bank of Canada lowered their price target on Edison International from $81.00 to $80.00 and set an “outperform” rating for the company in a report on Thursday, March 7th. TheStreet lowered Edison International from a “b” rating to a “c+” rating in a research report on Thursday, February 22nd. Guggenheim upgraded Edison International from a “neutral” rating to a “buy” rating and upped their target price for the company from $66.00 to $84.00 in a research report on Monday, January 22nd. Finally, Mizuho dropped their target price on Edison International from $76.00 to $75.00 and set a “buy” rating on the stock in a research report on Thursday, January 25th.

Edison International Price Performance

EIX opened at $71.12 on Friday. The company has a debt-to-equity ratio of 1.86, a current ratio of 0.79 and a quick ratio of 0.73. The firm has a market capitalization of $27.36 billion, a PE ratio of 22.79 and a beta of 0.96. The business’s 50-day moving average is $68.91 and its two-hundred day moving average is $67.65. Edison International has a 1 year low of $58.82 and a 1 year high of $74.92.

Edison International (NYSE:EIX) last issued its quarterly earnings results on Thursday, February 22nd. The utilities provider reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.16 by $0.12. The business had revenue of $3.71 billion during the quarter, compared to the consensus estimate of $4.19 billion. Edison International had a return on equity of 12.63% and a net margin of 8.35%. During the same quarter last year, the company earned $1.14 earnings per share. Research analysts anticipate that Edison International will post 4.94 earnings per share for the current fiscal year.

Edison International Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th will be given a $0.78 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $3.12 annualized dividend and a yield of 4.39%. Edison International’s dividend payout ratio is presently 100.00%.

Institutional Investors Weigh In On Edison International

Several hedge funds have recently bought and sold shares of EIX. RVW Wealth LLC purchased a new stake in Edison International in the 3rd quarter worth approximately $25,000. Able Wealth Management LLC purchased a new stake in Edison International in the 4th quarter worth approximately $25,000. Bruce G. Allen Investments LLC purchased a new stake in Edison International in the 4th quarter worth approximately $27,000. Global Trust Asset Management LLC purchased a new stake in Edison International in the 1st quarter worth approximately $28,000. Finally, WASHINGTON TRUST Co raised its stake in shares of Edison International by 117.4% during the 4th quarter. WASHINGTON TRUST Co now owns 500 shares of the utilities provider’s stock worth $36,000 after buying an additional 270 shares during the period. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Edison International Company Profile

Edison International, through its subsidiaries, engages in the generation and distribution of electric power. The company supplies and delivers electricity to approximately 50,000 square mile area of southern California to residential, commercial, industrial, public authorities, agricultural, and other sectors.