Edison International (NYSE:EIX) Hits New 1-Year Low - Here's Why

Edison International (NYSE:EIX - Get Free Report)'s share price hit a new 52-week low during trading on Tuesday . The company traded as low as $47.73 and last traded at $48.57, with a volume of 184767 shares changing hands. The stock had previously closed at $48.35.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. UBS Group upgraded Edison International from a "neutral" rating to a "buy" rating and lowered their price objective for the stock from $69.00 to $65.00 in a research report on Tuesday, February 18th. Wolfe Research cut shares of Edison International from an "outperform" rating to a "peer perform" rating in a research report on Monday, June 9th. The Goldman Sachs Group reduced their target price on shares of Edison International from $88.00 to $68.00 and set a "neutral" rating for the company in a report on Tuesday, March 4th. Wells Fargo & Company reduced their target price on shares of Edison International from $94.00 to $75.00 and set an "overweight" rating for the company in a report on Friday, February 28th. Finally, Morgan Stanley set a $52.00 target price on shares of Edison International and gave the company an "underweight" rating in a report on Thursday, May 22nd. One analyst has rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, Edison International presently has a consensus rating of "Moderate Buy" and a consensus target price of $76.89.

Edison International Stock Performance

The firm's 50-day moving average price is $55.52 and its 200 day moving average price is $60.61. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.81 and a current ratio of 0.88. The company has a market cap of $18.83 billion, a price-to-earnings ratio of 14.33, a PEG ratio of 1.07 and a beta of 0.78.

Edison International (NYSE:EIX - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The utilities provider reported $1.37 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.21 by $0.16. The firm had revenue of $3.81 billion for the quarter, compared to the consensus estimate of $4.29 billion. Edison International had a net margin of 8.52% and a return on equity of 13.17%. The business's revenue for the quarter was down 6.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.13 earnings per share. On average, sell-side analysts anticipate that Edison International will post 4.95 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in EIX. Rakuten Securities Inc. raised its holdings in Edison International by 4,633.3% during the 1st quarter. Rakuten Securities Inc. now owns 426 shares of the utilities provider's stock worth $25,000 after purchasing an additional 417 shares during the last quarter. Barnes Dennig Private Wealth Management LLC bought a new position in Edison International during the 1st quarter worth approximately $25,000. Investment Management Corp VA ADV raised its holdings in Edison International by 159.6% during the 1st quarter. Investment Management Corp VA ADV now owns 431 shares of the utilities provider's stock worth $25,000 after purchasing an additional 265 shares during the last quarter. Sierra Ocean LLC bought a new position in Edison International during the 4th quarter worth approximately $33,000. Finally, Bellwether Advisors LLC bought a new position in Edison International during the 4th quarter worth approximately $34,000. 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.

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