Edison International (NYSE:EIX) Price Target Cut to $68.00

Edison International (NYSE:EIXGet Rating) had its price target reduced by UBS Group from $73.00 to $68.00 in a research note released on Thursday, The Fly reports. They currently have a neutral rating on the utilities provider’s stock.

Several other research firms have also commented on EIX. StockNews.com started coverage on shares of Edison International in a research note on Thursday, March 31st. They issued a hold rating for the company. Citigroup increased their price target on shares of Edison International from $67.00 to $79.00 in a research note on Wednesday, May 4th. Wells Fargo & Company boosted their target price on Edison International from $70.00 to $79.00 and gave the company an overweight rating in a report on Wednesday, March 30th. Morgan Stanley decreased their price target on shares of Edison International from $65.00 to $64.00 and set an equal weight rating for the company in a research note on Monday, May 23rd. Finally, Royal Bank of Canada increased their price objective on Edison International from $73.00 to $82.00 and gave the stock an outperform rating in a research report on Thursday, April 14th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Edison International has an average rating of Hold and a consensus target price of $72.00.

Shares of EIX opened at $63.75 on Thursday. The company has a market capitalization of $24.28 billion, a price-to-earnings ratio of 41.67, a PEG ratio of 3.67 and a beta of 0.66. Edison International has a 52 week low of $54.14 and a 52 week high of $73.32. The stock’s 50-day moving average price is $66.42 and its 200-day moving average price is $65.91. The company has a quick ratio of 0.58, a current ratio of 0.63 and a debt-to-equity ratio of 1.59.

Edison International (NYSE:EIXGet Rating) last released its earnings results on Tuesday, May 3rd. The utilities provider reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.33. Edison International had a net margin of 4.22% and a return on equity of 12.27%. The business had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $3.34 billion. During the same quarter in the previous year, the company earned $0.79 earnings per share. The company’s quarterly revenue was up 34.1% on a year-over-year basis. As a group, equities analysts anticipate that Edison International will post 4.46 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Sunday, July 31st. Stockholders of record on Tuesday, July 5th will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 4.39%. The ex-dividend date of this dividend is Friday, July 1st. Edison International’s dividend payout ratio (DPR) is currently 183.01%.

A number of hedge funds have recently bought and sold shares of the business. Godsey & Gibb Associates acquired a new stake in shares of Edison International in the 1st quarter worth approximately $25,000. San Luis Wealth Advisors LLC bought a new stake in shares of Edison International during the 1st quarter worth $25,000. First Personal Financial Services bought a new stake in shares of Edison International during the 4th quarter worth $26,000. Prospera Financial Services Inc acquired a new stake in shares of Edison International in the first quarter worth $27,000. Finally, Dixon Hughes Goodman Wealth Advisors LLC acquired a new stake in shares of Edison International in the fourth quarter worth $32,000. Institutional investors own 87.89% of the company’s stock.

Edison International Company Profile (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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