Edison International (NYSE:EIX) Given a $70.00 Price Target by Morgan Stanley Analysts

Edison International (NYSE:EIX) has been given a $70.00 target price by equities research analysts at Morgan Stanley in a research report issued on Monday, TipRanks reports. The brokerage presently has a “hold” rating on the utilities provider’s stock. Morgan Stanley’s price objective suggests a potential upside of 0.46% from the company’s previous close.

Several other research analysts have also commented on EIX. SunTrust Banks lifted their price target on Edison International to $77.00 and gave the stock a “positive” rating in a research report on Monday, April 15th. Mizuho lifted their price target on Edison International from $75.00 to $76.00 and gave the stock a “buy” rating in a research report on Tuesday, June 25th. Wells Fargo & Co lifted their price target on American Woodmark from $70.00 to $80.00 and gave the stock a “market perform” rating in a research report on Wednesday, May 29th. UBS Group cut their price target on Caterpillar from $125.00 to $115.00 and set a “sell” rating on the stock in a research report on Tuesday, June 4th. Finally, Wolfe Research raised Edison International from a “peer perform” rating to an “outperform” rating in a research report on Monday, May 6th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company’s stock. Edison International presently has an average rating of “Hold” and an average target price of $69.73.

Shares of NYSE EIX traded down $0.42 during midday trading on Monday, hitting $69.68. 1,549,438 shares of the company’s stock were exchanged, compared to its average volume of 2,635,559. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.69 and a current ratio of 0.74. Edison International has a twelve month low of $45.50 and a twelve month high of $71.54. The company has a market cap of $22.99 billion, a P/E ratio of 16.79, a PEG ratio of 2.72 and a beta of 0.14. The firm has a fifty day simple moving average of $64.35.

Edison International (NYSE:EIX) last issued its earnings results on Tuesday, April 30th. The utilities provider reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.88 by ($0.25). Edison International had a positive return on equity of 10.28% and a negative net margin of 1.94%. The business had revenue of $2.82 billion for the quarter, compared to analyst estimates of $2.78 billion. During the same period last year, the business posted $0.80 EPS. Edison International’s revenue was up 10.1% on a year-over-year basis. On average, analysts anticipate that Edison International will post 4.73 EPS for the current fiscal year.

Hedge funds have recently made changes to their positions in the business. Liberty Wealth Management LLC purchased a new stake in shares of Edison International in the fourth quarter valued at approximately $29,000. Northern Oak Wealth Management Inc. purchased a new stake in shares of Edison International in the first quarter valued at approximately $37,000. Bremer Bank National Association purchased a new stake in shares of Edison International in the first quarter valued at approximately $39,000. Kaizen Advisory LLC boosted its stake in shares of Edison International by 26.0% in the fourth quarter. Kaizen Advisory LLC now owns 892 shares of the utilities provider’s stock valued at $51,000 after buying an additional 184 shares in the last quarter. Finally, NEXT Financial Group Inc purchased a new stake in shares of Edison International in the second quarter valued at approximately $52,000. Institutional investors own 82.33% of the company’s stock.

About Edison International

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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