Mizuho Lowers Edison International (NYSE:EIX) Price Target to $66.00

Edison International (NYSE:EIX) had its price objective decreased by equities researchers at Mizuho from $75.00 to $66.00 in a report released on Monday,Benzinga reports. The brokerage currently has an “outperform” rating on the utilities provider’s stock. Mizuho’s price objective would suggest a potential upside of 18.61% from the stock’s current price.

EIX has been the subject of several other research reports. Barclays reduced their price target on shares of Edison International from $67.00 to $65.00 and set an “overweight” rating for the company in a research report on Monday. LADENBURG THALM/SH SH raised Edison International from a “sell” rating to a “neutral” rating and set a $56.50 target price for the company in a report on Wednesday, January 15th. Wells Fargo & Company lowered their price target on Edison International from $94.00 to $75.00 and set an “overweight” rating on the stock in a research note on Friday. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $72.00 price objective on shares of Edison International in a research note on Wednesday, February 12th. Finally, Guggenheim cut shares of Edison International from a “buy” rating to a “neutral” rating in a research note on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $77.25.

Edison International Price Performance

EIX traded up $1.21 during trading on Monday, hitting $55.65. The company’s stock had a trading volume of 2,032,431 shares, compared to its average volume of 6,380,885. The firm has a market capitalization of $21.54 billion, a price-to-earnings ratio of 16.33, a P/E/G ratio of 1.07 and a beta of 0.90. Edison International has a twelve month low of $49.06 and a twelve month high of $88.77. The business’s fifty day simple moving average is $61.38 and its 200 day simple moving average is $76.41. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96.

Edison International (NYSE:EIX) last announced its earnings results on Thursday, February 27th. The utilities provider reported $1.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.03). The business had revenue of $17.60 billion for the quarter, compared to analysts’ expectations of $3.92 billion. Edison International had a net margin of 8.52% and a return on equity of 13.17%. On average, equities research analysts forecast that Edison International will post 4.95 EPS for the current fiscal year.

Hedge Funds Weigh In On Edison International

A number of institutional investors have recently bought and sold shares of the company. Crews Bank & Trust acquired a new stake in shares of Edison International during the 4th quarter worth approximately $25,000. Groupama Asset Managment grew its position in Edison International by 0.8% in the third quarter. Groupama Asset Managment now owns 29,911 shares of the utilities provider’s stock worth $26,000 after acquiring an additional 237 shares during the period. Larson Financial Group LLC grew its position in Edison International by 125.0% in the third quarter. Larson Financial Group LLC now owns 351 shares of the utilities provider’s stock worth $31,000 after acquiring an additional 195 shares during the period. Prospera Private Wealth LLC acquired a new stake in Edison International during the third quarter worth $32,000. Finally, Sierra Ocean LLC purchased a new stake in Edison International in the fourth quarter valued at $33,000. 88.95% of the stock is owned by hedge funds and other institutional investors.

About Edison International

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.