Edison International (NYSE:EIX) Price Target Lowered to $68.00 at The Goldman Sachs Group

Edison International (NYSE:EIX) had its price target dropped by stock analysts at The Goldman Sachs Group from $88.00 to $68.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the utilities provider’s stock. The Goldman Sachs Group’s price target indicates a potential upside of 23.09% from the company’s previous close.

A number of other brokerages have also recently issued reports on EIX. Wells Fargo & Company cut their price objective on Edison International from $94.00 to $75.00 and set an “overweight” rating for the company in a report on Friday. Barclays cut their price target on shares of Edison International from $67.00 to $65.00 and set an “overweight” rating for the company in a report on Monday. Guggenheim cut shares of Edison International from a “buy” rating to a “neutral” rating in a research note on Thursday, January 23rd. Morgan Stanley dropped their price objective on shares of Edison International from $71.00 to $48.00 and set an “underweight” rating for the company in a report on Friday, February 14th. Finally, Mizuho reduced their target price on Edison International from $75.00 to $66.00 and set an “outperform” rating on the stock in a report on Monday. One analyst has rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat, Edison International presently has a consensus rating of “Moderate Buy” and a consensus price target of $76.54.

Edison International Stock Performance

NYSE EIX opened at $55.25 on Tuesday. Edison International has a twelve month low of $49.06 and a twelve month high of $88.77. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96. The stock has a market cap of $21.39 billion, a P/E ratio of 16.21, a PEG ratio of 1.07 and a beta of 0.90. The company’s 50-day simple moving average is $60.89 and its 200 day simple moving average is $76.21.

Edison International (NYSE:EIX) last issued 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 company had revenue of $17.60 billion during the quarter, compared to analyst estimates of $3.92 billion. Edison International had a return on equity of 13.17% and a net margin of 8.52%. As a group, research analysts forecast that Edison International will post 4.95 earnings per share for the current fiscal year.

Institutional Trading of Edison International

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Crews Bank & Trust bought a new position in shares of Edison International in the 4th quarter valued at about $25,000. Larson Financial Group LLC lifted its holdings in Edison International by 125.0% in the third quarter. Larson Financial Group LLC now owns 351 shares of the utilities provider’s stock valued at $31,000 after buying an additional 195 shares during the period. Prospera Private Wealth LLC acquired a new position in Edison International in the third quarter valued at approximately $32,000. Darwin Wealth Management LLC bought a new position in Edison International in the third quarter valued at approximately $35,000. Finally, Sierra Ocean LLC acquired a new stake in Edison International during the 4th quarter worth $33,000. 88.95% of the stock is currently owned by institutional investors and hedge funds.

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.