Edison International (NYSE:EIX) Rating Increased to Buy at Wall Street Zen

Edison International (NYSE:EIX) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Sunday.

Several other equities analysts have also commented on EIX. LADENBURG THALM/SH SH upped their price target on shares of Edison International from $52.50 to $55.00 and gave the stock a “neutral” rating in a research report on Thursday, October 30th. UBS Group boosted their price objective on shares of Edison International from $66.00 to $70.00 and gave the company a “buy” rating in a research note on Tuesday, December 2nd. Jefferies Financial Group upped their price objective on Edison International from $57.00 to $59.00 and gave the stock a “hold” rating in a report on Wednesday, October 22nd. Cowen began coverage on Edison International in a report on Wednesday, October 15th. They issued a “buy” rating on the stock. Finally, TD Cowen started coverage on Edison International in a research report on Thursday, October 16th. They set a “buy” rating and a $71.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $64.20.

Edison International Stock Performance

Edison International stock opened at $58.30 on Friday. The stock has a fifty day moving average price of $56.95 and a 200 day moving average price of $54.66. Edison International has a 52 week low of $47.73 and a 52 week high of $82.48. The firm has a market capitalization of $22.43 billion, a P/E ratio of 7.62, a PEG ratio of 0.87 and a beta of 0.83. The company has a current ratio of 0.82, a quick ratio of 0.76 and a debt-to-equity ratio of 1.95.

Edison International (NYSE:EIX) last issued its quarterly earnings results on Tuesday, October 28th. The utilities provider reported $2.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.16 by $0.18. Edison International had a return on equity of 13.62% and a net margin of 17.24%.The firm had revenue of $5.75 billion for the quarter, compared to analyst estimates of $5.31 billion. During the same period last year, the company earned $1.51 EPS. The firm’s quarterly revenue was up 10.6% on a year-over-year basis. Edison International has set its FY 2025 guidance at 5.950-6.200 EPS. Equities research analysts anticipate that Edison International will post 4.95 earnings per share for the current year.

Insider Buying and Selling at Edison International

In other news, Director Peter J. Taylor sold 1,800 shares of the stock in a transaction dated Thursday, October 30th. The stock was sold at an average price of $55.27, for a total value of $99,486.00. Following the completion of the sale, the director owned 35,212 shares in the company, valued at approximately $1,946,167.24. This trade represents a 4.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Edison International

Hedge funds and other institutional investors have recently bought and sold shares of the stock. FARMERS & MERCHANTS TRUST Co OF LONG BEACH grew its position in shares of Edison International by 2.7% during the second quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 7,422 shares of the utilities provider’s stock worth $383,000 after buying an additional 196 shares in the last quarter. Kentucky Trust Co grew its holdings in Edison International by 66.7% during the 2nd quarter. Kentucky Trust Co now owns 500 shares of the utilities provider’s stock worth $26,000 after acquiring an additional 200 shares in the last quarter. Diligent Investors LLC increased its position in shares of Edison International by 1.5% in the 3rd quarter. Diligent Investors LLC now owns 13,895 shares of the utilities provider’s stock worth $768,000 after purchasing an additional 201 shares during the last quarter. MAI Capital Management raised its stake in shares of Edison International by 20.8% in the 2nd quarter. MAI Capital Management now owns 1,172 shares of the utilities provider’s stock valued at $60,000 after purchasing an additional 202 shares in the last quarter. Finally, Empowered Funds LLC raised its stake in shares of Edison International by 2.4% in the 1st quarter. Empowered Funds LLC now owns 8,875 shares of the utilities provider’s stock valued at $523,000 after purchasing an additional 211 shares in the last quarter. 88.95% of the stock is owned by institutional investors and hedge funds.

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.