Edison International (NYSE:EIX) Stock Price Down 4.4% – Here’s Why

Edison International (NYSE:EIX) shares dropped 4.4% during trading on Monday . The company traded as low as $51.73 and last traded at $51.37. Approximately 1,139,543 shares changed hands during trading, a decline of 63% from the average daily volume of 3,083,458 shares. The stock had previously closed at $53.76.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Morgan Stanley set a $52.00 target price on Edison International and gave the stock an “underweight” rating in a research note on Thursday, May 22nd. UBS Group upgraded shares of Edison International from a “neutral” rating to a “buy” rating and reduced their price target for the stock from $69.00 to $65.00 in a report on Tuesday, February 18th. Evercore ISI restated an “outperform” rating on shares of Edison International in a research note on Thursday, May 15th. Wells Fargo & Company decreased their price objective on Edison International from $94.00 to $75.00 and set an “overweight” rating for the company in a report on Friday, February 28th. Finally, The Goldman Sachs Group decreased their price target on shares of Edison International from $88.00 to $68.00 and set a “neutral” rating for the company in a research note on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Edison International has a consensus rating of “Moderate Buy” and an average price target of $76.89.

Edison International Stock Down 7.3%

The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96. The stock has a market cap of $19.17 billion, a P/E ratio of 14.43, a P/E/G ratio of 1.07 and a beta of 0.78. The company’s 50 day moving average price is $56.22 and its two-hundred day moving average price is $62.22.

Edison International (NYSE:EIX) last issued its earnings results on Tuesday, April 29th. The utilities provider reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.16. Edison International had a net margin of 8.52% and a return on equity of 13.17%. The company had revenue of $3.81 billion for the quarter, compared to analysts’ expectations of $4.29 billion. During the same period in the prior year, the business earned $1.13 EPS. The firm’s quarterly revenue was down 6.5% on a year-over-year basis. As a group, research analysts expect that Edison International will post 4.95 earnings per share for the current year.

Institutional Trading of Edison International

A number of institutional investors have recently made changes to their positions in the business. Norges Bank acquired a new position in shares of Edison International in the 4th quarter valued at $323,443,000. AQR Capital Management LLC raised its position in Edison International by 190.5% during the 1st quarter. AQR Capital Management LLC now owns 5,428,038 shares of the utilities provider’s stock worth $319,169,000 after buying an additional 3,559,602 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Edison International by 111.6% during the 1st quarter. JPMorgan Chase & Co. now owns 5,663,427 shares of the utilities provider’s stock valued at $333,689,000 after acquiring an additional 2,987,318 shares during the period. ATLAS Infrastructure Partners UK Ltd. boosted its holdings in shares of Edison International by 197.2% in the 1st quarter. ATLAS Infrastructure Partners UK Ltd. now owns 4,395,732 shares of the utilities provider’s stock valued at $258,997,000 after acquiring an additional 2,916,645 shares during the last quarter. Finally, Canada Pension Plan Investment Board increased its stake in shares of Edison International by 364.1% in the fourth quarter. Canada Pension Plan Investment Board now owns 3,369,535 shares of the utilities provider’s stock worth $269,024,000 after acquiring an additional 2,643,571 shares during the period. Institutional investors and hedge funds 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.