Barclays Issues Positive Forecast for Edison International (NYSE:EIX) Stock Price

Key Points

• Barclays has increased its price target for Edison International (NYSE:EIX) from $64.00 to $65.00, indicating a potential upside of 20.69% based on the current stock price.
• Despite Barclays' positive outlook, other analysts have mixed views, with some firms like Wolfe Research and JPMorgan Chase downgrading their ratings on Edison International.
• Edison International reported a quarterly earnings of $0.97 per share, surpassing the consensus estimate of $0.88, along with a revenue increase of 4.8% year-over-year.

Edison International (NYSE:EIX - Get Free Report) had its price objective upped by investment analysts at Barclays from $64.00 to $65.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has an "overweight" rating on the utilities provider's stock. Barclays's price target points to a potential upside of 20.69% from the company's current price.

Other equities research analysts have also recently issued research reports about the company. Wolfe Research cut Edison International from an "outperform" rating to a "peer perform" rating in a report on Monday, June 9th. JPMorgan Chase & Co. reduced their target price on Edison International from $75.00 to $71.00 and set a "neutral" rating on the stock in a report on Monday, May 19th. Morgan Stanley reduced their target price on Edison International from $52.00 to $51.00 and set an "underweight" rating on the stock in a report on Wednesday, June 18th. Finally, Evercore ISI reiterated an "outperform" rating on shares of Edison International in a report on Thursday, May 15th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $76.19.

Edison International Price Performance

NYSE EIX traded up $0.73 during mid-day trading on Monday, hitting $53.86. The stock had a trading volume of 418,083 shares, compared to its average volume of 4,482,272. Edison International has a 52-week low of $47.73 and a 52-week high of $88.77. The company has a market cap of $20.72 billion, a price-to-earnings ratio of 7.91, a P/E/G ratio of 1.25 and a beta of 0.75. The company has a 50 day simple moving average of $51.92 and a 200 day simple moving average of $54.44. The company has a quick ratio of 0.81, a current ratio of 0.87 and a debt-to-equity ratio of 2.03.

Edison International (NYSE:EIX - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The utilities provider reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.09. The company had revenue of $4.54 billion during the quarter, compared to the consensus estimate of $4.52 billion. Edison International had a return on equity of 11.99% and a net margin of 16.00%. Edison International's revenue was up 4.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.23 earnings per share. Equities analysts forecast that Edison International will post 4.95 EPS for the current fiscal year.

Institutional Trading of Edison International

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Flagship Harbor Advisors LLC increased its holdings in Edison International by 8.0% in the second quarter. Flagship Harbor Advisors LLC now owns 4,733 shares of the utilities provider's stock valued at $244,000 after buying an additional 351 shares during the last quarter. New York Life Investment Management LLC boosted its stake in Edison International by 1.1% in the second quarter. New York Life Investment Management LLC now owns 52,234 shares of the utilities provider's stock valued at $2,695,000 after acquiring an additional 557 shares during the period. Howard Capital Management Inc. boosted its stake in Edison International by 24.0% in the second quarter. Howard Capital Management Inc. now owns 8,385 shares of the utilities provider's stock valued at $433,000 after acquiring an additional 1,624 shares during the period. Advisory Alpha LLC boosted its stake in Edison International by 26.0% in the second quarter. Advisory Alpha LLC now owns 5,192 shares of the utilities provider's stock valued at $268,000 after acquiring an additional 1,072 shares during the period. Finally, SYM FINANCIAL Corp boosted its stake in Edison International by 49.4% in the second quarter. SYM FINANCIAL Corp now owns 8,895 shares of the utilities provider's stock valued at $459,000 after acquiring an additional 2,943 shares during the period. 88.95% of the stock is owned by institutional investors.

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.

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