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

Edison International (NYSE:EIX) had its price objective reduced by research analysts at UBS Group from $96.00 to $87.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the utilities provider’s stock. UBS Group’s target price would indicate a potential upside of 11.17% from the stock’s previous close.

EIX has been the topic of a number of other research reports. Argus raised their price objective on Edison International from $82.00 to $97.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. Bank of America started coverage on shares of Edison International in a report on Thursday, September 12th. They issued a “buy” rating and a $95.00 price target on the stock. Royal Bank of Canada raised their target price on shares of Edison International from $94.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. Morgan Stanley reduced their price target on Edison International from $74.00 to $72.00 and set an “underweight” rating on the stock in a research report on Friday, November 22nd. Finally, Wells Fargo & Company increased their price objective on Edison International from $87.00 to $94.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $88.58.

Edison International Price Performance

NYSE EIX opened at $78.26 on Thursday. Edison International has a 1-year low of $63.15 and a 1-year high of $88.77. The business’s fifty day moving average price is $83.99 and its 200-day moving average price is $81.26. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81. The stock has a market capitalization of $30.30 billion, a price-to-earnings ratio of 22.95, a PEG ratio of 1.96 and a beta of 0.92.

Edison International (NYSE:EIX) last released its quarterly earnings data 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. Edison International had a net margin of 8.52% and a return on equity of 13.17%. The firm had revenue of $5.20 billion for the quarter, compared to analysts’ expectations of $5.01 billion. During the same quarter last year, the business posted $1.38 earnings per share. The company’s revenue for the quarter was up 10.6% compared to the same quarter last year. On average, equities analysts predict that Edison International will post 4.94 earnings per share for the current year.

Insiders Place Their Bets

In other Edison International news, VP Adam S. Umanoff sold 25,619 shares of the company’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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.03% of the company’s stock.

Institutional Trading of Edison International

A number of hedge funds have recently bought and sold shares of EIX. Highline Wealth Partners LLC bought a new stake in shares of Edison International in the 3rd quarter worth approximately $26,000. Eastern Bank purchased a new position in Edison International in the 3rd quarter worth $27,000. Larson Financial Group LLC lifted its stake 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 purchasing an additional 195 shares during the last quarter. Prospera Private Wealth LLC bought a new position in shares of Edison International during the third quarter valued at about $32,000. Finally, Ashton Thomas Private Wealth LLC bought a new position in shares of Edison International during the second quarter valued at about $27,000. 88.95% of the stock is currently owned by 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.