Morgan Stanley Lowers Edison International (EIX) Price Target to $67.00

Edison International (NYSE:EIX) had its price target cut by investment analysts at Morgan Stanley from $70.00 to $67.00 in a research note issued to investors on Wednesday. The firm currently has an “equal weight” rating on the utilities provider’s stock. Morgan Stanley’s target price would suggest a potential upside of 11.30% from the stock’s previous close.

Several other brokerages have also recently issued reports on EIX. ValuEngine cut shares of Edison International from a “sell” rating to a “strong sell” rating in a research report on Saturday, June 2nd. JPMorgan Chase & Co. upped their price target on shares of Edison International from $64.00 to $66.00 and gave the company a “hold” rating in a research report on Tuesday, April 10th. Guggenheim upgraded shares of Edison International from a “neutral” rating to a “buy” rating in a research report on Friday, February 23rd. Zacks Investment Research upgraded shares of Edison International from a “sell” rating to a “hold” rating in a research report on Tuesday. Finally, SunTrust Banks set a $69.00 price target on shares of Edison International and gave the company a “buy” rating in a research report on Friday, February 23rd. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and six have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $76.36.

Edison International opened at $60.20 on Wednesday, Marketbeat Ratings reports. The company has a market cap of $19.38 billion, a P/E ratio of 13.38, a P/E/G ratio of 2.53 and a beta of 0.14. Edison International has a 1 year low of $57.63 and a 1 year high of $83.38. The company has a quick ratio of 0.59, a current ratio of 0.64 and a debt-to-equity ratio of 0.96.

Edison International (NYSE:EIX) last announced its quarterly earnings results on Tuesday, May 1st. The utilities provider reported $0.80 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.91 by ($0.11). Edison International had a net margin of 4.38% and a return on equity of 10.22%. The business had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.49 billion. During the same quarter last year, the company posted $0.85 earnings per share. The company’s revenue was up 4.1% compared to the same quarter last year. research analysts expect that Edison International will post 4.1 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently bought and sold shares of EIX. Howard Capital Management Inc. bought a new position in Edison International during the first quarter worth $290,000. Trilogy Capital Inc. bought a new position in Edison International during the first quarter worth $1,253,000. Summit Trail Advisors LLC boosted its stake in Edison International by 15,304.3% during the first quarter. Summit Trail Advisors LLC now owns 176,687 shares of the utilities provider’s stock worth $177,000 after acquiring an additional 175,540 shares in the last quarter. Levin Capital Strategies L.P. bought a new position in Edison International during the first quarter worth $208,000. Finally, Xact Kapitalforvaltning AB boosted its stake in Edison International by 10.8% during the first quarter. Xact Kapitalforvaltning AB now owns 33,652 shares of the utilities provider’s stock worth $2,142,000 after acquiring an additional 3,280 shares in the last quarter. Institutional investors own 82.13% of the company’s stock.

Edison International Company Profile

Edison International, through its subsidiaries, engages in the generation, transmission, and distribution of electricity in the United States. It generates electricity through hydroelectric, diesel/liquid petroleum gas, natural gas, nuclear, and photovoltaic sources. The company supplies electricity primarily to residential, commercial, industrial, agricultural, and other customers, as well as public authorities through transmission and distribution networks.

Analyst Recommendations for Edison International (NYSE:EIX)

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