HSBC Begins Coverage on Edison International (NYSE:EIX)

Key Points

• HSBC initiated coverage of Edison International with a “hold” rating and a $56.50 price target, implying approximately 1.13% downside from the reported share price.
• Analyst sentiment is broadly cautious: one analyst rates EIX a Buy, ten rate it Hold, and four rate it Sell. The consensus rating is “Reduce,” with an average price target of $60.58.
• Edison International beat quarterly EPS expectations, reporting $1.54 versus the $1.18 consensus, although revenue declined 4.1% year over year. Institutional investors own a substantial 88.95% of the company.

Investment analysts at HSBC assumed coverage on shares of Edison International (NYSE:EIX - Get Free Report) in a research note issued to investors on Thursday, MarketBeat Ratings reports. The brokerage set a "hold" rating and a $56.50 price target on the utilities provider's stock. HSBC's price objective would suggest a potential downside of 1.13% from the company's current price.

A number of other research analysts also recently issued reports on EIX. The Goldman Sachs Group set a $67.00 target price on shares of Edison International in a research report on Thursday, October 15th. Argus reiterated a "hold" rating on shares of Edison International in a research report on Wednesday, August 26th. Barclays dropped their price target on shares of Edison International from $75.00 to $53.00 and set an "equal weight" rating for the company in a research note on Friday, October 9th. Truist Financial dropped their price target on shares of Edison International from $63.00 to $62.00 and set a "hold" rating for the company in a research note on Monday, October 12th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Edison International from $61.00 to $59.00 and set a "neutral" rating on the stock in a report on Monday, October 12th. One investment analyst has rated the stock with a Buy rating, ten have issued a Hold rating and four have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Reduce" and an average price target of $60.58.

Edison International Price Performance

Shares of Edison International stock opened at $57.14 on Thursday. The firm has a market cap of $21.99 billion, a P/E ratio of 5.89, a price-to-earnings-growth ratio of 2.39 and a beta of 0.62. The firm's 50-day simple moving average is $59.44 and its 200-day simple moving average is $67.94. Edison International has a twelve month low of $51.10 and a twelve month high of $81.62. The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.61 and a current ratio of 0.66.

Edison International (NYSE:EIX - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The utilities provider reported $1.54 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.18 by $0.36. The company had revenue of $4.36 billion during the quarter, compared to analysts' expectations of $4.82 billion. Edison International had a return on equity of 15.53% and a net margin of 20.30%. The business's revenue was down 4.1% on a year-over-year basis. During the same period last year, the business earned $0.97 earnings per share. Edison International has set its FY 2026 guidance at 5.900-6.200 EPS. As a group, research analysts expect that Edison International will post 6.13 EPS for the current fiscal year.

Insider Buying and Selling at Edison International

In other news, Director Peter Taylor sold 500 shares of the stock in a transaction on Monday, October 12th. The shares were sold at an average price of $55.56, for a total transaction of $27,780.00. Following the completion of the sale, the director owned 33,212 shares of the company's stock, valued at $1,845,258.72. This represents a 1.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Edison International

Several institutional investors have recently added to or reduced their stakes in EIX. BlackRock Inc. bought a new position in Edison International during the 2nd quarter worth about $3,340,412,000. Legal & General Group Plc bought a new stake in shares of Edison International in the second quarter valued at about $329,766,000. Bank of New York Mellon Corp acquired a new position in shares of Edison International during the second quarter worth about $309,361,000. Amundi boosted its position in shares of Edison International by 27.0% during the second quarter. Amundi now owns 3,570,726 shares of the utilities provider's stock worth $265,843,000 after buying an additional 759,236 shares during the period. Finally, Hsbc Holdings PLC acquired a new position in shares of Edison International during the second quarter worth about $261,275,000. 88.95% of the stock is owned by institutional investors.

About Edison International

Edison International NYSE: EIX is an electric power holding company based in California. Its principal subsidiary, Southern California Edison (SCE), is one of the largest electric utilities in the United States and delivers electricity across central, coastal and Southern California. SCE serves millions of residential, commercial and industrial customers through an extensive transmission and distribution network.

Edison International's operations are focused on the generation, transmission and distribution of electricity, as well as supporting the transition to cleaner energy.

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