Morgan Stanley Boosts Edison International (NYSE:EIX) Price Target to $87.00

Edison International (NYSE:EIX) had its price objective boosted by analysts at Morgan Stanley from $84.00 to $87.00 in a note issued to investors on Friday, BenzingaRatingsTable reports. The firm currently has an “equal weight” rating on the utilities provider’s stock. Morgan Stanley’s target price would indicate a potential upside of 45.29% from the company’s previous close.

A number of other analysts also recently commented on EIX. Barclays restated a “hold” rating and set a $65.00 price objective on shares of Edison International in a report on Friday, February 15th. Zacks Investment Research downgraded Edison International from a “buy” rating to a “hold” rating in a report on Friday, February 22nd. Bank of America upgraded Edison International from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $63.00 to $65.00 in a report on Friday, March 1st. Mizuho upped their price objective on Edison International from $57.00 to $66.50 and gave the stock a “buy” rating in a report on Thursday, March 14th. Finally, SunTrust Banks upped their price objective on Edison International to $77.00 and gave the stock a “positive” rating in a report on Monday, April 15th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $71.00.

Shares of EIX opened at $59.88 on Friday. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.74 and a quick ratio of 0.69. The firm has a market capitalization of $19.39 billion, a price-to-earnings ratio of 14.43, a price-to-earnings-growth ratio of 2.29 and a beta of 0.04. Edison International has a fifty-two week low of $45.50 and a fifty-two week high of $71.00.

Edison International (NYSE:EIX) last issued its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $0.63 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.88 by ($0.25). The business had revenue of $2.82 billion during the quarter, compared to analyst estimates of $2.78 billion. Edison International had a negative net margin of 1.94% and a positive return on equity of 10.28%. The company’s revenue was up 10.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.80 earnings per share. On average, analysts forecast that Edison International will post 4.72 EPS for the current year.

Institutional investors have recently made changes to their positions in the stock. Essex Investment Management Co. LLC acquired a new stake in Edison International during the fourth quarter worth about $28,000. Enlightenment Research LLC acquired a new stake in Edison International during the fourth quarter worth about $28,000. Liberty Wealth Management LLC acquired a new stake in Edison International during the fourth quarter worth about $29,000. Rehmann Capital Advisory Group raised its stake in Edison International by 57.2% during the fourth quarter. Rehmann Capital Advisory Group now owns 547 shares of the utilities provider’s stock worth $31,000 after acquiring an additional 199 shares during the period. Finally, Karp Capital Management Corp acquired a new stake in Edison International during the fourth quarter worth about $32,000. 82.37% of the stock is 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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