Edison International (NYSE:EIX – Get Rating) was downgraded by equities researchers at UBS Group from a “buy” rating to a “neutral” rating in a research note issued to investors on Monday, Briefing.com reports. They presently have a $73.00 target price on the utilities provider’s stock, down from their previous target price of $75.00. UBS Group’s price objective indicates a potential upside of 4.61% from the stock’s current price.
Other equities analysts have also issued reports about the company. Wells Fargo & Company boosted their price target on Edison International from $70.00 to $79.00 and gave the company an “overweight” rating in a research note on Wednesday, March 30th. Morgan Stanley decreased their price objective on Edison International from $65.00 to $64.00 and set an “equal weight” rating for the company in a report on Monday, May 23rd. Mizuho downgraded Edison International from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $82.00 to $72.00 in a report on Tuesday, May 10th. Citigroup boosted their price objective on Edison International from $67.00 to $79.00 in a report on Wednesday, May 4th. Finally, StockNews.com started coverage on Edison International in a report on Thursday, March 31st. They set a “hold” rating for the company. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $72.63.
NYSE:EIX opened at $69.78 on Monday. The stock has a market cap of $26.57 billion, a P/E ratio of 45.61, a price-to-earnings-growth ratio of 4.03 and a beta of 0.64. The company has a current ratio of 0.63, a quick ratio of 0.58 and a debt-to-equity ratio of 1.59. The stock’s 50-day moving average is $69.61 and its 200-day moving average is $66.33. Edison International has a 1-year low of $54.14 and a 1-year high of $73.32.
Edison International (NYSE:EIX – Get Rating) last posted its quarterly earnings data on Tuesday, May 3rd. The utilities provider reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.33. The company 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 12.27% and a net margin of 4.22%. The firm’s quarterly revenue was up 34.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.79 earnings per share. As a group, equities analysts forecast that Edison International will post 4.44 EPS for the current year.
Several hedge funds and other institutional investors have recently modified their holdings of EIX. Godsey & Gibb Associates purchased a new stake in Edison International during the 1st quarter worth about $25,000. San Luis Wealth Advisors LLC purchased a new stake in Edison International during the 1st quarter worth about $25,000. First Personal Financial Services purchased a new stake in Edison International during the 4th quarter worth about $26,000. Prospera Financial Services Inc purchased a new stake in Edison International during the 1st quarter worth about $27,000. Finally, Dixon Hughes Goodman Wealth Advisors LLC purchased a new stake in Edison International during the 4th quarter worth about $32,000. 87.89% of the stock is currently owned by hedge funds and other institutional investors.
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.