Edison International (NYSE:EIX) had its target price cut by investment analysts at Barclays from $70.00 to $65.00 in a research note issued to investors on Tuesday, BenzingaRatingsTable reports. The firm currently has an “equal weight” rating on the utilities provider’s stock. Barclays‘s price objective indicates a potential upside of 8.60% from the stock’s previous close.
Several other equities research analysts have also commented on the stock. Wolfe Research raised shares of Edison International from a “peer perform” rating to an “outperform” rating in a report on Monday, May 6th. Zacks Investment Research raised shares of Edison International from a “sell” rating to a “hold” rating in a report on Monday, April 29th. Wells Fargo & Co upped their target price on shares of Edison International from $65.00 to $75.00 and gave the stock a “market perform” rating in a report on Monday, April 15th. SunTrust Banks upped their target price on shares of Edison International to $77.00 and gave the stock a “positive” rating in a report on Monday, April 15th. Finally, Mizuho upped their target price on shares of Edison International from $57.00 to $66.50 and gave the stock a “buy” rating in a report on Thursday, March 14th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $70.14.
Shares of NYSE EIX opened at $59.85 on Tuesday. The firm has a market capitalization of $19.60 billion, a P/E ratio of 14.42, a P/E/G ratio of 2.49 and a beta of -0.05. The company has a quick ratio of 0.69, a current ratio of 0.74 and a debt-to-equity ratio of 1.23. Edison International has a one year low of $45.50 and a one year high of $71.00.
Edison International (NYSE:EIX) last issued its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $0.63 EPS for the quarter, missing the consensus estimate of $0.88 by ($0.25). The company had revenue of $2.82 billion during the quarter, compared to analysts’ expectations of $2.78 billion. Edison International had a positive return on equity of 10.28% and a negative net margin of 1.94%. Edison International’s revenue was up 10.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.80 EPS. Equities research analysts expect that Edison International will post 4.37 earnings per share for the current year.
Hedge funds have recently made changes to their positions in the company. Commonwealth Bank of Australia lifted its position in Edison International by 14.3% in the fourth quarter. Commonwealth Bank of Australia now owns 59,509 shares of the utilities provider’s stock valued at $3,372,000 after buying an additional 7,428 shares during the last quarter. Advisor Group Inc. lifted its position in shares of Edison International by 32.0% during the fourth quarter. Advisor Group Inc. now owns 12,930 shares of the utilities provider’s stock worth $734,000 after purchasing an additional 3,138 shares in the last quarter. Mercer Global Advisors Inc. ADV acquired a new stake in shares of Edison International during the first quarter worth about $276,000. KBC Group NV lifted its position in shares of Edison International by 222.6% during the fourth quarter. KBC Group NV now owns 115,350 shares of the utilities provider’s stock worth $6,549,000 after purchasing an additional 79,599 shares in the last quarter. Finally, Sowell Financial Services LLC acquired a new stake in shares of Edison International during the fourth quarter worth about $210,000. 84.66% of the stock is currently owned by hedge funds and other institutional investors.
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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