March 31:
Morgan Stanley restated their overweight rating on shares ofEdison International (NYSE:EIX) in a report released on Friday,AnalystRatings.NET reports. Morgan Stanley currently has a $58.00 price objective on the stock.
“After the close yesterday EIX announced a settlement related to its retired nuclear facility (SONGS), a key overhang for shares and impediment to reaching a premium valuation, in our view. We view the agreement as balanced since it provides certainty, a slight uplift in EPS, modest additional write-offs, and recovery of a majority of its investment. “In addition, there is upside for shareholders in the event the company receives funds from insurance and/or Mitsubishi. We expect an ultimate Commission approval in the coming months and do not foresee an onerous process given supportive commentary following settlement announcement.,” the firm’s analyst commented.
Edison International (NYSE:EIX) traded up 2.39% on Friday, hitting $56.61. 4,097,004 shares of the company’s stock traded hands. Edison International has a 1-year low of $44.26 and a 1-year high of $55.44. The stock’s 50-day moving average is $51.82 and its 200-day moving average is $48.22. The company has a market cap of $18.444 billion and a price-to-earnings ratio of 19.86.
Edison International (NYSE:EIX) last released its earnings data on Tuesday, February 25th. The company reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.14. The company had revenue of $2.94 billion for the quarter, compared to the consensus estimate of $2.59 billion. Analysts expect that Edison International will post $3.68 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, April 30th. Investors of record on Monday, March 31st will be paid a dividend of $0.355 per share. This represents a $1.42 annualized dividend and a dividend yield of 2.57%. The ex-dividend date is Thursday, March 27th.
Other equities research analysts have also recently issued reports about the stock. Analysts at Barclays raised their price target on shares of Edison International from $54.00 to $58.00 in a research note on Friday. They now have an overweight rating on the stock. Separately, analysts at ISI Group raised their price target on shares of Edison International from $54.00 to $58.00 in a research note on Friday, March 21st. Finally, analysts at BMO Capital Markets raised their price target on shares of Edison International from $50.00 to $53.00 in a research note on Thursday, February 27th. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Edison International currently has a consensus rating of Buy and a consensus price target of $55.79.
Edison International, is a holding company of Southern California Edison Company (NYSE:EIX).
To view Morgan Stanley’s full report, visit Morgan Stanley’s official website.
Source: http://tickerreport.com/banking-finance/175466/edison-international-receives-overweight-rating-from-morgan-stanley-eix/?
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