Edison International (NYSE:EIX) Upgraded to “Buy” at Wall Street Zen

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

EIX has been the subject of several other research reports. Zacks Research raised shares of Edison International from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 28th. Cowen initiated coverage on shares of Edison International in a research report on Wednesday, October 15th. They issued a “buy” rating on the stock. TD Cowen assumed coverage on shares of Edison International in a research report on Thursday, October 16th. They set a “buy” rating and a $71.00 price target for the company. UBS Group decreased their price target on shares of Edison International from $68.00 to $66.00 and set a “buy” rating on the stock in a research note on Thursday, September 11th. Finally, JPMorgan Chase & Co. boosted their price objective on Edison International from $67.00 to $68.00 and gave the stock a “neutral” rating in a research note on Thursday, September 25th. One investment 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 stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $64.10.

Edison International Price Performance

NYSE EIX traded down $0.04 during trading hours on Friday, reaching $59.08. The company’s stock had a trading volume of 1,203,100 shares, compared to its average volume of 4,035,701. The firm has a market capitalization of $22.73 billion, a price-to-earnings ratio of 7.72, a P/E/G ratio of 0.83 and a beta of 0.85. The company’s 50-day moving average is $56.47 and its two-hundred day moving average is $54.66. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.82 and a quick ratio of 0.81. Edison International has a 1-year low of $47.73 and a 1-year high of $88.61.

Edison International (NYSE:EIX) last issued its quarterly earnings data on Tuesday, October 28th. The utilities provider reported $2.34 EPS 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 return on equity of 13.62% and a net margin of 17.24%.Edison International’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same period last year, the company earned $1.51 earnings per share. Edison International has set its FY 2025 guidance at 5.950-6.200 EPS. On average, equities analysts predict that Edison International will post 4.95 EPS for the current year.

Insiders Place Their Bets

In other Edison International news, Director Peter J. Taylor sold 1,800 shares of the firm’s stock in a transaction that occurred on Thursday, October 30th. The shares were sold at an average price of $55.27, for a total value of $99,486.00. Following the transaction, the director directly owned 35,212 shares of the company’s stock, valued at $1,946,167.24. This trade represents a 4.86% decrease in their position. 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

Institutional investors have recently added to or reduced their stakes in the stock. Kentucky Trust Co grew its holdings in 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 in the last quarter. Activest Wealth Management grew its holdings in shares of Edison International by 677.8% in the third quarter. Activest Wealth Management now owns 560 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 488 shares during the period. American National Bank & Trust purchased a new stake in shares of Edison International in the second quarter valued at about $32,000. CVA Family Office LLC increased its position in Edison International by 113.7% during the third 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 last quarter. Finally, Zions Bancorporation National Association UT purchased a new position in Edison International during the first quarter worth about $35,000. Hedge funds and other institutional investors own 88.95% of the company’s stock.

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.