Edison International (EIX) Price Target Lowered to $82.00 at Morgan Stanley

Edison International (NYSE:EIX) had its price objective decreased by equities researchers at Morgan Stanley from $96.00 to $82.00 in a research note issued on Wednesday. The firm currently has an “equal weight” rating on the utilities provider’s stock. Morgan Stanley’s price target would indicate a potential upside of 19.57% from the company’s previous close.

Several other analysts also recently weighed in on EIX. SunTrust Banks reaffirmed a “buy” rating and issued a $85.00 target price on shares of Edison International in a report on Thursday, December 7th. BMO Capital Markets reissued a “buy” rating and set a $85.00 price objective on shares of Edison International in a report on Thursday, August 17th. Deutsche Bank decreased their price objective on shares of Edison International to $78.00 and set a “hold” rating on the stock in a report on Wednesday, December 6th. Mizuho reissued a “buy” rating and set a $87.00 price objective (up previously from $84.00) on shares of Edison International in a report on Wednesday, August 23rd. Finally, Citigroup set a $87.00 price objective on shares of Edison International and gave the stock a “hold” rating in a report on Tuesday. Eleven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Edison International has a consensus rating of “Hold” and a consensus target price of $83.77.

Shares of Edison International (EIX) traded down $4.40 during trading hours on Wednesday, hitting $68.58. 10,717,400 shares of the stock traded hands, compared to its average volume of 1,863,588. The stock has a market capitalization of $23,777.70, a P/E ratio of 16.62, a price-to-earnings-growth ratio of 2.65 and a beta of 0.23. The company has a current ratio of 0.51, a quick ratio of 0.47 and a debt-to-equity ratio of 0.80. Edison International has a 1-year low of $67.28 and a 1-year high of $83.38.

Edison International (NYSE:EIX) last issued its earnings results on Monday, October 30th. The utilities provider reported $1.43 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.33 by $0.10. The business had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.53 billion. Edison International had a net margin of 13.18% and a return on equity of 10.84%. The business’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.29 earnings per share. sell-side analysts forecast that Edison International will post 4.33 earnings per share for the current fiscal year.

In related news, insider Ronald L. Litzinger sold 224,718 shares of the business’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $82.00, for a total transaction of $18,426,876.00. Following the sale, the insider now owns 14,121 shares of the company’s stock, valued at $1,157,922. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.41% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in EIX. HL Financial Services LLC raised its position in Edison International by 2.7% during the second quarter. HL Financial Services LLC now owns 2,681 shares of the utilities provider’s stock worth $210,000 after acquiring an additional 70 shares during the last quarter. Global X Management Co. LLC raised its position in Edison International by 23.9% during the second quarter. Global X Management Co. LLC now owns 9,317 shares of the utilities provider’s stock worth $728,000 after acquiring an additional 1,796 shares during the last quarter. Wetherby Asset Management Inc. raised its position in Edison International by 0.3% during the second quarter. Wetherby Asset Management Inc. now owns 3,824 shares of the utilities provider’s stock worth $299,000 after acquiring an additional 12 shares during the last quarter. DekaBank Deutsche Girozentrale raised its position in Edison International by 9.2% during the second quarter. DekaBank Deutsche Girozentrale now owns 72,855 shares of the utilities provider’s stock worth $5,791,000 after acquiring an additional 6,117 shares during the last quarter. Finally, Dupont Capital Management Corp raised its position in Edison International by 5.2% during the second quarter. Dupont Capital Management Corp now owns 21,399 shares of the utilities provider’s stock worth $1,673,000 after acquiring an additional 1,054 shares during the last quarter. Institutional investors own 81.36% of the company’s stock.

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Edison International Company Profile

Edison International is the holding company of Southern California Edison Company (SCE). As of December 31, 2016, SCE, a public utility, was primarily engaged in the business of supplying and delivering electricity to an approximately 50,000 square mile area of southern California. The Company is also the parent company of Edison Energy Group, Inc (Edison Energy Group), a holding company for subsidiaries engaged in pursuing competitive business opportunities across energy services and distributed solar to commercial and industrial customers.

Analyst Recommendations for Edison International (NYSE:EIX)

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