Edison International (NYSE:EIX) PT Lowered to $89.00 at Barclays

18 Oct 2024, 10:25 by Kim Johansen · The Markets Daily

Edison International (NYSE:EIX – Free Report) had its price objective cut by Barclays from $91.00 to $89.00 in a research note issued to investors on Tuesday morning, Benzinga reports. They currently have an equal weight rating on the utilities provider’s stock.

A number of other research analysts also recently issued reports on EIX. UBS Group lifted their price objective on shares of Edison International from $86.00 to $89.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 4th. Argus upped their price target on Edison International from $82.00 to $97.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. Bank of America assumed coverage on Edison International in a research note on Thursday, September 12th. They set a “buy” rating and a $95.00 target price on the stock. Guggenheim increased their price target on Edison International from $80.00 to $83.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Finally, Morgan Stanley raised their price target on Edison International from $68.00 to $72.00 and gave the stock an “underweight” rating in a report on Wednesday, September 25th. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $87.55.

Get Our Latest Stock Analysis on EIX

Edison International Price Performance

Shares of EIX stock opened at $84.64 on Tuesday. The stock has a 50 day moving average price of $85.24 and a 200 day moving average price of $77.63. Edison International has a 52-week low of $61.64 and a 52-week high of $88.77. The company has a debt-to-equity ratio of 2.04, a quick ratio of 0.96 and a current ratio of 1.03. The firm has a market capitalization of $32.69 billion, a P/E ratio of 33.99, a P/E/G ratio of 1.95 and a beta of 0.91.

Edison International (NYSE:EIX – Get Free Report) last released its quarterly earnings results on Thursday, July 25th. The utilities provider reported $1.23 EPS for the quarter, topping the consensus estimate of $1.05 by $0.18. Edison International had a return on equity of 13.01% and a net margin of 6.60%. The firm had revenue of $4.34 billion during the quarter, compared to analyst estimates of $4.12 billion. During the same period in the previous year, the company posted $1.01 EPS. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year. As a group, sell-side analysts predict that Edison International will post 4.97 earnings per share for the current year.

Edison International Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, October 7th will be issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.69%. The ex-dividend date is Monday, October 7th. Edison International’s dividend payout ratio (DPR) is 125.30%.

Insider Activity at Edison International

In other Edison International news, CEO J Andrew Murphy sold 28,995 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $78.43, for a total transaction of $2,274,077.85. Following the completion of the transaction, the chief executive officer now directly owns 19,660 shares of the company’s stock, valued at approximately $1,541,933.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Edison International news, VP Natalie K. Schilling sold 2,341 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $80.00, for a total value of $187,280.00. Following the sale, the vice president now directly owns 6,338 shares of the company’s stock, valued at approximately $507,040. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO J Andrew Murphy sold 28,995 shares of the stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $78.43, for a total value of $2,274,077.85. Following the sale, the chief executive officer now directly owns 19,660 shares in the company, valued at $1,541,933.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 89,099 shares of company stock worth $7,223,342 over the last quarter. Insiders own 1.20% of the company’s stock.

Institutional Trading of Edison International

A number of hedge funds have recently modified their holdings of the stock. Ashton Thomas Private Wealth LLC purchased a new position in Edison International during the second quarter valued at approximately $27,000. Global Trust Asset Management LLC acquired a new position in shares of Edison International in the 1st quarter valued at $28,000. Country Trust Bank purchased a new stake in Edison International during the second quarter worth $29,000. Farmers & Merchants Investments Inc. grew its position in Edison International by 53.8% during the second quarter. Farmers & Merchants Investments Inc. now owns 400 shares of the utilities provider’s stock valued at $29,000 after buying an additional 140 shares during the period. Finally, OFI Invest Asset Management purchased a new position in Edison International in the second quarter valued at $32,000. Hedge funds and other institutional investors own 88.95% of the company’s stock.

About Edison International

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