Barclays Has Lowered Expectations for Edison International (NYSE:EIX) Stock Price

Edison International (NYSE:EIX) had its price objective lowered by equities research analysts at Barclays from $84.00 to $76.00 in a research report issued on Monday,Benzinga reports. The firm currently has an “overweight” rating on the utilities provider’s stock. Barclays‘s price objective points to a potential upside of 29.89% from the company’s current price.

EIX has been the topic of several other reports. Jefferies Financial Group initiated coverage on shares of Edison International in a research note on Thursday, November 7th. They issued a “buy” rating and a $93.00 price target on the stock. UBS Group decreased their price target on shares of Edison International from $96.00 to $87.00 and set a “neutral” rating on the stock in a research note on Thursday, December 19th. Morgan Stanley decreased their price target on shares of Edison International from $74.00 to $72.00 and set an “underweight” rating on the stock in a research note on Friday, November 22nd. Royal Bank of Canada raised their price target on shares of Edison International from $94.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. Finally, Wells Fargo & Company raised their price target on shares of Edison International from $87.00 to $94.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $87.33.

Edison International Stock Up 2.2 %

Shares of NYSE EIX opened at $58.51 on Monday. The company’s 50-day simple moving average is $80.71 and its 200-day simple moving average is $81.62. Edison International has a 52-week low of $55.27 and a 52-week high of $88.77. The firm has a market cap of $22.65 billion, a price-to-earnings ratio of 17.16, a price-to-earnings-growth ratio of 1.96 and a beta of 0.93. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96.

Edison International (NYSE:EIX) last announced its earnings results on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.38 by $0.13. The business had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.01 billion. Edison International had a net margin of 8.52% and a return on equity of 13.17%. The company’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter last year, the business earned $1.38 earnings per share. Equities analysts predict that Edison International will post 4.94 EPS for the current fiscal year.

Insider Activity

In other news, VP Adam S. Umanoff sold 25,619 shares of the business’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $83.05, for a total value of $2,127,657.95. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 1.03% of the company’s stock.

Institutional Investors Weigh In On Edison International

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Highline Wealth Partners LLC acquired a new position in shares of Edison International in the third quarter valued at approximately $26,000. Groupama Asset Managment grew its holdings in shares of Edison International by 0.8% in the third quarter. Groupama Asset Managment now owns 29,911 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 237 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in shares of Edison International in the second quarter valued at approximately $27,000. Eastern Bank acquired a new position in shares of Edison International in the third quarter valued at approximately $27,000. Finally, Larson Financial Group LLC grew its holdings in shares of Edison International by 125.0% in the third quarter. Larson Financial Group LLC now owns 351 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 195 shares in the last quarter. 88.95% 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 and distribution of electric power. The company supplies and delivers electricity to approximately 50,000 square mile area of southern California to residential, commercial, industrial, public authorities, agricultural, and other sectors.