Edison International (NYSE:EIX) received a $69.00 price objective from equities research analysts at Goldman Sachs Group in a research note issued to investors on Friday, September 14th. The firm presently has a “hold” rating on the utilities provider’s stock. Goldman Sachs Group’s target price would indicate a potential downside of 2.06% from the stock’s previous close.
Several other research analysts have also commented on EIX. Zacks Investment Research upgraded shares of Edison International from a “sell” rating to a “hold” rating in a report on Thursday, May 31st. JPMorgan Chase & Co. raised their price target on shares of Edison International from $65.00 to $68.00 and gave the company a “neutral” rating in a report on Friday, June 1st. ValuEngine lowered shares of Edison International from a “sell” rating to a “strong sell” rating in a report on Saturday, June 2nd. Wells Fargo & Co dropped their price objective on shares of Edison International from $74.00 to $72.00 and set a “hold” rating on the stock in a research note on Monday, June 11th. Finally, Morgan Stanley dropped their price objective on shares of Edison International from $70.00 to $67.00 and set an “equal weight” rating on the stock in a research note on Wednesday, June 13th. Eleven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $73.71.
Shares of EIX traded up $0.52 during mid-day trading on Friday, hitting $70.45. The company had a trading volume of 2,125,600 shares, compared to its average volume of 2,445,767. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.61 and a current ratio of 0.66. Edison International has a 1-year low of $57.63 and a 1-year high of $83.38. The stock has a market capitalization of $22.05 billion, a PE ratio of 15.64, a P/E/G ratio of 2.84 and a beta of 0.08.
Edison International (NYSE:EIX) last released its earnings results on Thursday, July 26th. The utilities provider reported $0.84 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.83 by $0.01. Edison International had a net margin of 4.34% and a return on equity of 10.27%. The business had revenue of $2.82 billion for the quarter, compared to analysts’ expectations of $2.97 billion. During the same period last year, the company earned $0.85 earnings per share. The company’s quarterly revenue was down 5.1% on a year-over-year basis. As a group, sell-side analysts expect that Edison International will post 4.08 earnings per share for the current fiscal year.
A number of institutional investors have recently added to or reduced their stakes in the business. Tiedemann Advisors LLC boosted its holdings in shares of Edison International by 11.8% during the first quarter. Tiedemann Advisors LLC now owns 24,326 shares of the utilities provider’s stock valued at $1,563,000 after acquiring an additional 2,574 shares during the period. Covalis Capital LLP acquired a new position in shares of Edison International during the second quarter valued at $11,857,000. AMP Capital Investors Ltd boosted its holdings in shares of Edison International by 16.4% during the second quarter. AMP Capital Investors Ltd now owns 673,119 shares of the utilities provider’s stock valued at $42,588,000 after acquiring an additional 94,850 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in shares of Edison International by 3.2% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,679,935 shares of the utilities provider’s stock valued at $106,290,000 after acquiring an additional 52,371 shares during the period. Finally, Schwab Charles Investment Management Inc. boosted its holdings in shares of Edison International by 4.7% during the second quarter. Schwab Charles Investment Management Inc. now owns 1,284,919 shares of the utilities provider’s stock valued at $81,297,000 after acquiring an additional 57,319 shares during the period. 81.83% of the stock is owned by hedge funds and other 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.
Further Reading: Earnings Per Share