Edison International (NYSE:EIX) Given New $79.00 Price Target at Citigroup

Edison International (NYSE:EIXGet Rating) had its target price upped by equities research analysts at Citigroup from $67.00 to $79.00 in a report released on Wednesday, The Fly reports. Citigroup’s price target indicates a potential upside of 12.28% from the company’s previous close.

Other analysts also recently issued reports about the company. Royal Bank of Canada upped their target price on Edison International from $73.00 to $82.00 and gave the company an “outperform” rating in a research report on Thursday, April 14th. StockNews.com assumed coverage on Edison International in a report on Thursday, March 31st. They issued a “hold” rating for the company. Morgan Stanley decreased their price target on Edison International from $66.00 to $65.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 26th. Finally, Wells Fargo & Company raised their target price on Edison International from $70.00 to $79.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 30th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $72.38.

Shares of NYSE:EIX traded up $2.45 during trading on Wednesday, hitting $70.36. 1,994,652 shares of the company’s stock traded hands, compared to its average volume of 2,045,006. The company has a market cap of $26.79 billion, a price-to-earnings ratio of 34.66, a price-to-earnings-growth ratio of 3.91 and a beta of 0.64. The company has a 50-day moving average price of $68.19 and a 200-day moving average price of $65.41. The company has a current ratio of 0.64, a quick ratio of 0.59 and a debt-to-equity ratio of 1.53. Edison International has a 52 week low of $54.14 and a 52 week high of $73.32.

Edison International (NYSE:EIXGet Rating) last posted its quarterly earnings results on Tuesday, May 3rd. The utilities provider reported $1.07 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.81 by $0.26. The firm had revenue of $3.97 billion for the quarter, compared to analyst estimates of $3.34 billion. Edison International had a return on equity of 11.73% and a net margin of 5.88%. The business’s quarterly revenue was up 34.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.79 EPS. On average, analysts predict that Edison International will post 4.45 earnings per share for the current fiscal year.

Several hedge funds have recently bought and sold shares of the company. Conning Inc. lifted its holdings in shares of Edison International by 4.1% in the fourth quarter. Conning Inc. now owns 4,093 shares of the utilities provider’s stock valued at $279,000 after purchasing an additional 163 shares in the last quarter. Deseret Mutual Benefit Administrators lifted its holdings in shares of Edison International by 6.4% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 2,758 shares of the utilities provider’s stock valued at $188,000 after purchasing an additional 165 shares in the last quarter. Banco Bilbao Vizcaya Argentaria S.A. lifted its holdings in shares of Edison International by 0.4% in the third quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 44,472 shares of the utilities provider’s stock valued at $2,467,000 after purchasing an additional 173 shares in the last quarter. Cypress Wealth Services LLC increased its position in shares of Edison International by 4.5% during the fourth quarter. Cypress Wealth Services LLC now owns 4,046 shares of the utilities provider’s stock valued at $276,000 after acquiring an additional 173 shares during the last quarter. Finally, Associated Banc Corp increased its position in shares of Edison International by 3.7% during the fourth quarter. Associated Banc Corp now owns 5,012 shares of the utilities provider’s stock valued at $342,000 after acquiring an additional 180 shares during the last quarter. Institutional investors own 87.89% 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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