UBS Group Issues Pessimistic Forecast for Edison International (NYSE:EIX) Stock Price

Edison International (NYSE:EIX) had its price target dropped by investment analysts at UBS Group from $96.00 to $87.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the utilities provider’s stock. UBS Group’s price objective would suggest a potential upside of 9.41% from the stock’s current price.

A number of other equities research analysts have also recently commented on the company. Argus raised their price target on Edison International from $82.00 to $97.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Royal Bank of Canada boosted their price target on Edison International from $94.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Bank of America assumed coverage on shares of Edison International in a report on Thursday, September 12th. They set a “buy” rating and a $95.00 price objective for the company. Wells Fargo & Company boosted their target price on shares of Edison International from $87.00 to $94.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Finally, Morgan Stanley cut their target price on shares of Edison International from $74.00 to $72.00 and set an “underweight” rating for the company in a research note on Friday, November 22nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $88.58.

Edison International Trading Up 2.0 %

Shares of EIX stock opened at $79.52 on Thursday. Edison International has a 1 year low of $63.15 and a 1 year high of $88.77. The firm has a fifty day moving average price of $83.80 and a 200-day moving average price of $81.26. The company has a market cap of $30.79 billion, a price-to-earnings ratio of 23.32, a PEG ratio of 1.96 and a beta of 0.92. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81.

Edison International (NYSE:EIX) last issued its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.38 by $0.13. The business had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.01 billion. Edison International had a net margin of 8.52% and a return on equity of 13.17%. The company’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.38 earnings per share. As a group, equities analysts predict that Edison International will post 4.94 earnings per share 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 on Thursday, October 31st. The shares were sold at an average price of $83.05, for a total transaction of $2,127,657.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.03% of the company’s stock.

Institutional Investors Weigh In On Edison International

Several institutional investors have recently made changes to their positions in the company. Principal Financial Group Inc. raised its holdings in shares of Edison International by 6.4% in the third quarter. Principal Financial Group Inc. now owns 459,194 shares of the utilities provider’s stock worth $39,991,000 after buying an additional 27,667 shares during the period. Tidal Investments LLC increased its stake in Edison International by 2.6% in the third quarter. Tidal Investments LLC now owns 18,719 shares of the utilities provider’s stock worth $1,630,000 after purchasing an additional 476 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in shares of Edison International during the third quarter worth $188,000. World Investment Advisors LLC purchased a new stake in shares of Edison International during the third quarter valued at $221,000. Finally, Sanctuary Advisors LLC boosted its stake in shares of Edison International by 11.9% during the third quarter. Sanctuary Advisors LLC now owns 31,940 shares of the utilities provider’s stock valued at $2,762,000 after purchasing an additional 3,389 shares during the period. Institutional investors own 88.95% of the company’s stock.

About Edison International

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.