TD Cowen Begins Coverage on Edison International (NYSE:EIX)

Key Points

• TD Cowen has initiated coverage on Edison International (NYSE:EIX), setting a "buy" rating and a price target of $71.00, indicating a potential upside of 25.25% from the current stock price.
• Market analysts are divided on Edison International, with a total of seven firms rating it as a "Buy," seven as "Hold," and one as "Sell," leaving the average analyst rating at "Hold" with a consensus price target of $65.25.
• For the last quarter, Edison International reported earnings per share of $0.97, surpassing expectations and demonstrating a 4.8% increase in revenue compared to the previous year.

Stock analysts at TD Cowen began coverage on shares of Edison International (NYSE:EIX - Get Free Report) in a note issued to investors on Thursday, MarketBeat Ratings reports. The firm set a "buy" rating and a $71.00 price target on the utilities provider's stock. TD Cowen's price target suggests a potential upside of 25.25% from the company's current price.

Other equities research analysts have also issued reports about the stock. JPMorgan Chase & Co. raised their price objective on shares of Edison International from $67.00 to $68.00 and gave the stock a "neutral" rating in a report on Thursday, September 25th. Weiss Ratings restated a "hold (c)" rating on shares of Edison International in a report on Wednesday, October 8th. Jefferies Financial Group lowered shares of Edison International from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $70.00 to $57.00 in a report on Thursday, October 2nd. Morgan Stanley dropped their price objective on shares of Edison International from $61.00 to $60.00 and set an "underweight" rating on the stock in a report on Thursday, September 25th. Finally, UBS Group dropped their price objective on shares of Edison International from $68.00 to $66.00 and set a "buy" rating on the stock in a report on Thursday, September 11th. Seven research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $65.25.

Edison International Trading Up 1.1%

EIX opened at $56.69 on Thursday. The firm's fifty day moving average is $55.11 and its two-hundred day moving average is $54.43. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.81 and a current ratio of 0.87. The firm has a market cap of $21.81 billion, a PE ratio of 8.32, a price-to-earnings-growth ratio of 0.96 and a beta of 0.80. Edison International has a twelve month low of $47.73 and a twelve month high of $88.64.

Edison International (NYSE:EIX - Get Free Report) last posted its 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 for the quarter, compared to analyst estimates of $4.52 billion. Edison International had a net margin of 16.00% and a return on equity of 11.99%. The business's revenue for the quarter was up 4.8% compared to the same quarter last year. During the same period last year, the business posted $1.23 earnings per share. Edison International has set its FY 2025 guidance at 5.940-6.340 EPS. Equities research analysts anticipate that Edison International will post 4.95 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Rakuten Securities Inc. grew its position in shares of Edison International by 4,633.3% in the 1st quarter. Rakuten Securities Inc. now owns 426 shares of the utilities provider's stock valued at $25,000 after acquiring an additional 417 shares during the period. Barnes Dennig Private Wealth Management LLC bought a new position in shares of Edison International in the 1st quarter valued at about $25,000. Investment Management Corp VA ADV grew its position in shares of Edison International by 159.6% in the 1st quarter. Investment Management Corp VA ADV now owns 431 shares of the utilities provider's stock valued at $25,000 after acquiring an additional 265 shares during the period. Kentucky Trust Co grew its position in shares of 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 acquiring an additional 200 shares during the period. Finally, American National Bank & Trust bought a new position in shares of Edison International in the 2nd quarter valued at about $32,000. 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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