Morgan Stanley Boosts Edison International (NYSE:EIX) Price Target to $66.00

Edison International (NYSE:EIXGet Rating) had its price target upped by investment analysts at Morgan Stanley from $58.00 to $66.00 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has an “equal weight” rating on the utilities provider’s stock. Morgan Stanley’s price objective would suggest a potential downside of 9.17% from the company’s current price.

A number of other equities analysts have also commented on EIX. Royal Bank of Canada lifted their price target on shares of Edison International from $73.00 to $82.00 and gave the stock an “outperform” rating in a report on Thursday, April 14th. Argus lifted their target price on shares of Edison International from $68.00 to $73.00 and gave the stock a “buy” rating in a research note on Wednesday, December 29th. StockNews.com began coverage on shares of Edison International in a research note on Thursday, March 31st. They set a “hold” rating for the company. Finally, Wells Fargo & Company lifted their target price on shares of Edison International from $70.00 to $79.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 30th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $70.88.

Shares of NYSE:EIX traded up $0.85 during mid-day trading on Wednesday, reaching $72.66. 10,294 shares of the company’s stock were exchanged, compared to its average volume of 2,098,744. The firm has a market capitalization of $27.67 billion, a price-to-earnings ratio of 36.47, a PEG ratio of 4.11 and a beta of 0.68. The business’s fifty day moving average price is $66.09 and its 200-day moving average price is $64.43. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.59 and a current ratio of 0.64. Edison International has a twelve month low of $54.14 and a twelve month high of $72.64.

Edison International (NYSE:EIXGet Rating) last issued its quarterly earnings results on Thursday, February 24th. The utilities provider reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.11. The company had revenue of $3.33 billion for the quarter, compared to analyst estimates of $3.23 billion. Edison International had a net margin of 5.88% and a return on equity of 11.73%. Edison International’s revenue was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.19 earnings per share. Analysts predict that Edison International will post 4.43 EPS for the current fiscal year.

Institutional investors and hedge funds have recently bought and sold shares of the business. First Personal Financial Services bought a new stake in Edison International in the fourth quarter valued at $26,000. Dixon Hughes Goodman Wealth Advisors LLC bought a new stake in Edison International in the fourth quarter valued at $32,000. EverSource Wealth Advisors LLC bought a new stake in Edison International in the fourth quarter valued at $33,000. First Horizon Advisors Inc. increased its stake in Edison International by 3,057.1% in the third quarter. First Horizon Advisors Inc. now owns 884 shares of the utilities provider’s stock valued at $44,000 after purchasing an additional 856 shares in the last quarter. Finally, Dark Forest Capital Management LP bought a new stake in Edison International in the third quarter valued at $48,000. 84.74% of the stock is owned by hedge funds and other institutional investors.

Edison International Company Profile (Get Rating)

Edison International, through its subsidiaries, generates and distributes electric power. It delivers electricity to 15 million residential, commercial, industrial, public authorities, agricultural, and other customers across Southern, Central, and Coastal California. The company also provides energy solutions to commercial and industrial users.

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Analyst Recommendations for Edison International (NYSE:EIX)

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