UBS Group Lowers Edison International (NYSE:EIX) Price Target to $87.00

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

Other analysts have also issued reports about the stock. Wells Fargo & Company upped their price objective on shares of Edison International from $87.00 to $94.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Morgan Stanley dropped their price objective on shares of Edison International from $74.00 to $72.00 and set an “underweight” rating on the stock in a research note on Friday, November 22nd. Jefferies Financial Group assumed coverage on shares of Edison International in a research note on Thursday, November 7th. They issued a “buy” rating and a $93.00 price objective for the company. Royal Bank of Canada raised their price target on shares of Edison International from $94.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Finally, Barclays boosted their target price on Edison International from $89.00 to $91.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. One equities research 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. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $88.58.

Edison International Stock Down 2.8 %

Shares of Edison International stock opened at $78.26 on Thursday. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96. Edison International has a twelve month low of $63.15 and a twelve month high of $88.77. The company has a market cap of $30.30 billion, a price-to-earnings ratio of 22.95, a price-to-earnings-growth ratio of 1.96 and a beta of 0.92. The company’s 50 day moving average is $83.99 and its 200 day moving average is $81.26.

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

Insider Buying and Selling at Edison International

In other Edison International news, VP Adam S. Umanoff sold 25,619 shares of Edison International stock in a transaction dated 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 SEC, which is available through this hyperlink. Corporate insiders own 1.03% of the company’s stock.

Institutional Trading of Edison International

A number of institutional investors and hedge funds have recently modified their holdings of the business. Highline Wealth Partners LLC bought a new position in shares of Edison International during the 3rd quarter valued at about $26,000. Groupama Asset Managment boosted its stake in shares of Edison International by 0.8% in the 3rd quarter. Groupama Asset Managment now owns 29,911 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 237 shares in the last quarter. Ashton Thomas Private Wealth LLC bought a new position in shares of Edison International during the 2nd quarter valued at $27,000. Eastern Bank purchased a new position in Edison International in the 3rd quarter worth $27,000. Finally, Farmers & Merchants Investments Inc. lifted its stake in Edison International by 53.8% in the second quarter. Farmers & Merchants Investments Inc. now owns 400 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 140 shares during the last quarter. 88.95% of the stock is 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.