Edison International (EIX) Price Target Cut to $58.00

Edison International (NYSE:EIX) had its price target lowered by research analysts at Barclays from $73.00 to $58.00 in a research note issued to investors on Monday. The firm presently has a “hold” rating on the utilities provider’s stock. Barclays’ target price would suggest a potential upside of 7.29% from the company’s previous close.

Several other research analysts have also commented on the stock. Morgan Stanley increased their price target on shares of Edison International from $72.00 to $75.00 and gave the stock a “hold” rating in a research note on Tuesday, September 11th. Wells Fargo & Co increased their price target on shares of Edison International from $72.00 to $76.00 and gave the stock an “outperform” rating in a research note on Friday, July 27th. Goldman Sachs Group set a $69.00 price objective on shares of Edison International and gave the stock a “hold” rating in a report on Friday, September 14th. Argus upped their price objective on shares of Edison International from $71.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, August 2nd. Finally, Bank of America upped their price objective on shares of Edison International from $75.00 to $77.00 and gave the stock a “buy” rating in a report on Wednesday, July 25th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $71.54.

Shares of NYSE:EIX traded up $0.15 during mid-day trading on Monday, hitting $54.06. The stock had a trading volume of 10,217 shares, compared to its average volume of 4,219,498. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.66 and a current ratio of 0.72. The company has a market cap of $17.74 billion, a PE ratio of 12.01, a price-to-earnings-growth ratio of 2.21 and a beta of 0.01. Edison International has a 12-month low of $45.50 and a 12-month high of $81.96.

Edison International (NYSE:EIX) last released its quarterly earnings data on Tuesday, October 30th. The utilities provider reported $1.56 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.31 by $0.25. The firm had revenue of $4.27 billion for the quarter, compared to analyst estimates of $3.47 billion. Edison International had a net margin of 4.47% and a return on equity of 10.61%. The company’s revenue for the quarter was up 16.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.43 EPS. On average, equities analysts predict that Edison International will post 4.14 earnings per share for the current year.

Several large investors have recently added to or reduced their stakes in the company. Kiley Juergens Wealth Management LLC acquired a new stake in shares of Edison International during the 2nd quarter worth approximately $110,000. Stelac Advisory Services LLC acquired a new stake in shares of Edison International during the 3rd quarter worth approximately $129,000. Virtus ETF Advisers LLC grew its position in shares of Edison International by 696.8% during the 3rd quarter. Virtus ETF Advisers LLC now owns 2,000 shares of the utilities provider’s stock worth $135,000 after buying an additional 1,749 shares during the period. Gradient Investments LLC grew its position in shares of Edison International by 94.2% during the 3rd quarter. Gradient Investments LLC now owns 2,039 shares of the utilities provider’s stock worth $138,000 after buying an additional 989 shares during the period. Finally, Bbva Compass Bancshares Inc. bought a new position in Edison International during the 3rd quarter worth approximately $155,000. 81.93% of the stock is owned by institutional investors.

Edison International Company Profile

Edison International, through its subsidiaries, engages in the generation, transmission, and distribution of electricity in the United States. It generates electricity through hydroelectric, diesel/liquid petroleum gas, natural gas, nuclear, and photovoltaic sources. The company supplies electricity primarily to residential, commercial, industrial, agricultural, and other customers, as well as public authorities through transmission and distribution networks.

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Analyst Recommendations for Edison International (NYSE:EIX)

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