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

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

A number of other analysts also recently weighed in on the company. Zacks Research upgraded Edison International from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 28th. Cowen began coverage on shares of Edison International in a research report on Wednesday, October 15th. They set a “buy” rating for the company. Morgan Stanley set a $64.00 target price on shares of Edison International in a research note on Thursday, November 20th. Weiss Ratings reiterated a “hold (c)” rating on shares of Edison International in a report on Monday, December 8th. Finally, LADENBURG THALM/SH SH upped their price objective on shares of Edison International from $52.50 to $55.00 and gave the stock a “neutral” rating in a report on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $64.20.

Edison International Price Performance

NYSE EIX opened at $59.14 on Friday. Edison International has a 12-month low of $47.73 and a 12-month high of $82.48. The company has a quick ratio of 0.76, a current ratio of 0.82 and a debt-to-equity ratio of 1.95. The firm’s 50 day moving average is $57.04 and its 200-day moving average is $54.68. The company has a market capitalization of $22.76 billion, a PE ratio of 7.73, a price-to-earnings-growth ratio of 0.87 and a beta of 0.83.

Edison International (NYSE:EIX) last issued its quarterly earnings data on Tuesday, October 28th. The utilities provider reported $2.34 earnings per share for the quarter, beating the consensus estimate of $2.16 by $0.18. The company had revenue of $5.75 billion for the quarter, compared to analyst estimates of $5.31 billion. Edison International had a net margin of 17.24% and a return on equity of 13.62%. The company’s revenue was up 10.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.51 earnings per share. 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 fiscal year.

Insider Buying and Selling

In related news, Director Peter J. Taylor sold 1,800 shares of the business’s 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 sale, the director directly owned 35,212 shares in the company, valued at approximately $1,946,167.24. The trade was a 4.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On Edison International

Several hedge funds have recently made changes to their positions in the company. Kentucky Trust Co raised its holdings in shares of Edison International by 66.7% in the 2nd quarter. Kentucky Trust Co now owns 500 shares of the utilities provider’s stock valued at $26,000 after buying an additional 200 shares during the period. Activest Wealth Management boosted its stake in shares of Edison International by 677.8% during the third quarter. Activest Wealth Management now owns 560 shares of the utilities provider’s stock worth $31,000 after buying an additional 488 shares during the period. American National Bank & Trust purchased a new position in Edison International during the second quarter worth about $32,000. CVA Family Office LLC increased its holdings in shares of Edison International by 113.7% in the 3rd quarter. CVA Family Office LLC now owns 577 shares of the utilities provider’s stock valued at $32,000 after purchasing an additional 307 shares in the last quarter. Finally, Laurel Wealth Advisors LLC increased its holdings in Edison International by 5,064.3% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 723 shares of the utilities provider’s stock valued at $37,000 after acquiring an additional 709 shares in the last quarter. 88.95% of the stock is currently owned by hedge funds and other institutional investors.

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.