Brokerages Set Edison International (NYSE:EIX) Target Price at $64.30

Edison International (NYSE:EIX) has been assigned a consensus recommendation of “Hold” from the sixteen analysts that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, eight have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $64.10.

EIX has been the subject of several analyst reports. Zacks Research upgraded Edison International from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 28th. LADENBURG THALM/SH SH lifted their price objective on shares of Edison International from $52.50 to $55.00 and gave the stock a “neutral” rating in a research note on Thursday, October 30th. Cowen assumed coverage on shares of Edison International in a report on Wednesday, October 15th. They set a “buy” rating for the company. Barclays cut their target price on shares of Edison International from $69.00 to $68.00 and set an “overweight” rating on the stock in a report on Wednesday, October 29th. Finally, TD Cowen began coverage on shares of Edison International in a report on Thursday, October 16th. They issued a “buy” rating and a $71.00 price target for the company.

Edison International Stock Performance

Shares of Edison International stock opened at $58.55 on Friday. The firm has a fifty day moving average of $56.12 and a two-hundred day moving average of $54.55. The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.81 and a current ratio of 0.82. The stock has a market capitalization of $22.53 billion, a price-to-earnings ratio of 7.65, a PEG ratio of 0.83 and a beta of 0.85. Edison International has a 52 week low of $47.73 and a 52 week high of $88.64.

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

Edison International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 31st. Shareholders of record on Tuesday, October 7th were paid a $0.8275 dividend. This represents a $3.31 dividend on an annualized basis and a yield of 5.7%. The ex-dividend date of this dividend was Tuesday, October 7th. Edison International’s payout ratio is presently 43.27%.

Insider Activity

In other news, Director Peter J. Taylor sold 1,800 shares of the firm’s stock in a transaction dated Thursday, October 30th. The stock was sold at an average price of $55.27, for a total transaction of $99,486.00. Following the sale, the director owned 35,212 shares of the company’s stock, valued at $1,946,167.24. This trade represents a 4.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Edison International

Several institutional investors and hedge funds have recently modified their holdings of the business. Investment Management Corp VA ADV lifted its stake in Edison International by 159.6% in the first quarter. Investment Management Corp VA ADV now owns 431 shares of the utilities provider’s stock valued at $25,000 after buying an additional 265 shares in the last quarter. Kentucky Trust Co raised its holdings in shares of Edison International by 66.7% during the second quarter. Kentucky Trust Co now owns 500 shares of the utilities provider’s stock worth $26,000 after acquiring an additional 200 shares during the period. Activest Wealth Management lifted its position in Edison International by 677.8% in the 3rd quarter. Activest Wealth Management now owns 560 shares of the utilities provider’s stock valued at $31,000 after acquiring an additional 488 shares in the last quarter. CVA Family Office LLC boosted its stake in Edison International by 113.7% in the 3rd quarter. CVA Family Office LLC now owns 577 shares of the utilities provider’s stock worth $32,000 after purchasing an additional 307 shares during the period. Finally, Zions Bancorporation National Association UT bought a new stake in shares of Edison International in the first quarter valued at about $35,000. 88.95% of the stock is currently 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.