Barclays Issues Pessimistic Forecast for Edison International (NYSE:EIX) Stock Price

Edison International (NYSE:EIX) had its price target reduced by research analysts at Barclays from $84.00 to $76.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the utilities provider’s stock. Barclays‘s price objective indicates a potential upside of 26.67% from the company’s previous close.

Other research analysts have also issued reports about the company. Wells Fargo & Company lifted their price objective on Edison International from $87.00 to $94.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Morgan Stanley dropped their target price on shares of Edison International from $74.00 to $72.00 and set an “underweight” rating on the stock in a research report on Friday, November 22nd. UBS Group dropped their target price on shares of Edison International from $96.00 to $87.00 and set a “neutral” rating on the stock in a research report on Thursday, December 19th. Jefferies Financial Group began coverage on shares of Edison International in a research report on Thursday, November 7th. They set a “buy” rating and a $93.00 target price on the stock. Finally, Royal Bank of Canada lifted their target price on shares of Edison International from $94.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. One equities research 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 MarketBeat.com, Edison International has an average rating of “Moderate Buy” and an average target price of $87.33.

Edison International Price Performance

Shares of NYSE:EIX traded down $5.00 during midday trading on Monday, hitting $60.00. The stock had a trading volume of 1,627,719 shares, compared to its average volume of 4,780,236. The company has a market capitalization of $23.23 billion, a P/E ratio of 17.60, 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. The company’s 50-day moving average price is $81.66 and its 200-day moving average price is $81.82. Edison International has a fifty-two week low of $59.64 and a fifty-two week high of $88.77.

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

Insider Buying and Selling

In other news, VP Adam S. Umanoff sold 25,619 shares of the firm’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $83.05, for a total transaction of $2,127,657.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.03% of the stock is owned by insiders.

Hedge Funds Weigh In On Edison International

Institutional investors and hedge funds have recently modified their holdings of the company. Highline Wealth Partners LLC purchased a new position in Edison International in the 3rd quarter worth approximately $26,000. Eastern Bank purchased a new stake in shares of Edison International during the 3rd quarter worth approximately $27,000. Larson Financial Group LLC lifted its position in Edison International by 125.0% in the third quarter. Larson Financial Group LLC now owns 351 shares of the utilities provider’s stock worth $31,000 after buying an additional 195 shares during the last quarter. Prospera Private Wealth LLC purchased a new position in Edison International during the third quarter worth $32,000. Finally, Ashton Thomas Private Wealth LLC bought a new position in Edison International during the second quarter valued at $27,000. 88.95% of the stock is currently 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.