Mizuho Lowers Edison International (NYSE:EIX) to Neutral

Edison International (NYSE:EIX – Get Rating) was downgraded by investment analysts at Mizuho from a “buy” rating to a “neutral” rating in a report issued on Tuesday, Briefing.com reports. They currently have a $72.00 price objective on the utilities provider’s stock, down from their previous price objective of $82.00. Mizuho’s price target suggests a potential upside of 2.77% from the company’s current price.

EIX has been the topic of several other research reports. Morgan Stanley dropped their price target on Edison International from $66.00 to $65.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 26th. Wells Fargo & Company boosted their price target on Edison International from $70.00 to $79.00 and gave the company an “overweight” rating in a research report on Wednesday, March 30th. Citigroup boosted their price target on Edison International from $67.00 to $79.00 in a research report on Wednesday, May 4th. StockNews.com initiated coverage on Edison International in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. Finally, Royal Bank of Canada boosted their price target on Edison International from $73.00 to $82.00 and gave the company an “outperform” rating in a research report on Thursday, April 14th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Edison International presently has an average rating of “Hold” and a consensus price target of $71.75.

EIX opened at $70.06 on Tuesday. The business’s 50-day simple moving average is $68.81 and its 200-day simple moving average is $65.77. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.63. Edison International has a one year low of $54.14 and a one year high of $73.32. The stock has a market capitalization of $26.68 billion, a P/E ratio of 45.79, a price-to-earnings-growth ratio of 4.05 and a beta of 0.64.

Edison International (NYSE:EIX – Get Rating) last posted its earnings results on Tuesday, May 3rd. The utilities provider reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.26. Edison International had a return on equity of 12.27% and a net margin of 4.22%. The business had revenue of $3.97 billion for the quarter, compared to analysts’ expectations of $3.34 billion. During the same quarter in the previous year, the firm earned $0.79 earnings per share. The business’s revenue was up 34.1% compared to the same quarter last year. On average, equities research analysts forecast that Edison International will post 4.45 EPS for the current fiscal year.

Several large investors have recently made changes to their positions in EIX. Advisor Group Holdings Inc. boosted its stake in shares of Edison International by 30.6% during the 3rd quarter. Advisor Group Holdings Inc. now owns 69,558 shares of the utilities provider’s stock worth $3,858,000 after acquiring an additional 16,315 shares in the last quarter. Truist Financial Corp boosted its stake in shares of Edison International by 120.0% during the 3rd quarter. Truist Financial Corp now owns 39,557 shares of the utilities provider’s stock worth $2,194,000 after acquiring an additional 21,577 shares in the last quarter. Mackenzie Financial Corp boosted its stake in shares of Edison International by 32.5% during the 3rd quarter. Mackenzie Financial Corp now owns 27,822 shares of the utilities provider’s stock worth $1,543,000 after acquiring an additional 6,817 shares in the last quarter. Ieq Capital LLC purchased a new stake in Edison International in the 3rd quarter valued at approximately $213,000. Finally, First Horizon Advisors Inc. lifted its stake in Edison International by 3,057.1% in the 3rd quarter. First Horizon Advisors Inc. now owns 884 shares of the utilities provider’s stock valued at $44,000 after buying an additional 856 shares in the last quarter. 87.89% of the stock is currently owned by institutional investors and hedge funds.

About Edison International (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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