Edison International's (EIX) Hold (C) Rating Reaffirmed at Weiss Ratings

Key Points

• Edison International received a "hold (c)" rating from Weiss Ratings, reaffirming the stock's current position amidst mixed analyst opinions.
• JPMorgan Chase raised its target price on the stock to $68, while Morgan Stanley decreased its target to $60, reflecting a variety of sentiments from different analysts.
• Edison International reported earnings of $0.97 per share for its last quarter, surpassing consensus estimates, along with a revenue increase of 4.8% from the previous year.

Edison International (NYSE:EIX - Get Free Report)'s stock had its "hold (c)" rating reaffirmed by Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

Several other equities analysts also recently weighed in on the company. JPMorgan Chase & Co. raised their target price on Edison International from $67.00 to $68.00 and gave the company a "neutral" rating in a research report on Thursday, September 25th. Morgan Stanley reduced their price objective on Edison International from $61.00 to $60.00 and set an "underweight" rating on the stock in a research report on Thursday, September 25th. UBS Group reduced their price objective on Edison International from $68.00 to $66.00 and set a "buy" rating on the stock in a research report on Thursday, September 11th. Barclays lifted their price objective on Edison International from $64.00 to $65.00 and gave the stock an "overweight" rating in a research report on Monday, August 4th. Finally, Jefferies Financial Group downgraded Edison International from a "buy" rating to a "hold" rating and reduced their target price for the company from $70.00 to $57.00 in a research report on Thursday, October 2nd. Five analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Edison International has an average rating of "Hold" and an average price target of $64.61.

Edison International Price Performance

Shares of NYSE EIX traded down $0.23 during midday trading on Wednesday, hitting $53.46. The stock had a trading volume of 5,801,677 shares, compared to its average volume of 3,607,212. The company has a market capitalization of $20.57 billion, a PE ratio of 7.85, a P/E/G ratio of 1.26 and a beta of 0.80. The stock has a 50 day simple moving average of $55.09 and a 200-day simple moving average of $54.55. Edison International has a 1 year low of $47.73 and a 1 year high of $88.64. 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 earnings results on Thursday, July 31st. The utilities provider reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.09. The business had revenue of $4.54 billion for 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%.The business's quarterly 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. Edison International has set its FY 2025 guidance at 5.940-6.340 EPS. On average, sell-side analysts expect that Edison International will post 4.95 EPS for the current fiscal year.

Institutional Investors Weigh In On Edison International

A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of Edison International by 4.9% in the second quarter. Vanguard Group Inc. now owns 51,470,117 shares of the utilities provider's stock valued at $2,655,858,000 after buying an additional 2,386,562 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Edison International by 3.5% in the second quarter. Geode Capital Management LLC now owns 12,136,256 shares of the utilities provider's stock valued at $638,576,000 after buying an additional 407,039 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of Edison International by 83.5% in the second quarter. AQR Capital Management LLC now owns 9,962,902 shares of the utilities provider's stock valued at $510,649,000 after buying an additional 4,534,864 shares in the last quarter. Invesco Ltd. grew its stake in shares of Edison International by 10.8% in the second quarter. Invesco Ltd. now owns 6,392,459 shares of the utilities provider's stock valued at $329,851,000 after buying an additional 621,924 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of Edison International by 111.6% in the first quarter. JPMorgan Chase & Co. now owns 5,663,427 shares of the utilities provider's stock valued at $333,689,000 after buying an additional 2,987,318 shares in the last quarter. 88.95% of the stock is owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.