Edison International (NYSE:EIX) Stock Picked Up by Analysts at HSBC

Equities research analysts at HSBC assumed coverage on shares of Edison International (NYSE:EIX) in a research note issued on Thursday, Marketbeat reports. The brokerage set a “hold” rating and a $56.50 price target on the utilities provider’s stock. HSBC’s price objective suggests a potential downside of 1.13% from the company’s previous close.

Several other equities research analysts have also recently commented on EIX. JPMorgan Chase & Co. cut their price target on shares of Edison International from $61.00 to $59.00 and set a “neutral” rating on the stock in a research report on Monday, October 12th. Bank of America downgraded Edison International from a “buy” rating to a “neutral” rating and lowered their target price for the company from $81.00 to $51.00 in a research report on Tuesday, September 1st. The Goldman Sachs Group set a $67.00 target price on Edison International in a research report on Thursday, October 15th. Mizuho reiterated a “neutral” rating and set a $70.00 target price (down from $86.00) on shares of Edison International in a report on Monday, August 31st. Finally, Morgan Stanley increased their price target on Edison International from $60.00 to $62.00 and gave the company an “underweight” rating in a research report on Wednesday. One investment analyst has rated the stock with a Buy rating, ten have issued a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus target price of $60.58.

Edison International Stock Performance

Shares of EIX stock opened at $57.14 on Thursday. The company’s fifty day simple moving average is $59.44 and its 200-day simple moving average is $67.94. The company has a quick ratio of 0.61, a current ratio of 0.66 and a debt-to-equity ratio of 1.95. The firm has a market cap of $21.99 billion, a PE ratio of 5.89, a P/E/G ratio of 2.39 and a beta of 0.62. Edison International has a 12 month low of $51.10 and a 12 month high of $81.62.

Edison International (NYSE:EIX) last announced its earnings results on Thursday, July 30th. The utilities provider reported $1.54 EPS for the quarter, topping the consensus estimate of $1.18 by $0.36. The business had revenue of $4.36 billion during the quarter, compared to analysts’ expectations of $4.82 billion. Edison International had a net margin of 20.30% and a return on equity of 15.53%. The firm’s revenue was down 4.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.97 earnings per share. Edison International has set its FY 2026 guidance at 5.900-6.200 EPS. Equities research analysts expect that Edison International will post 6.13 EPS for the current fiscal year.

Insider Activity

In other news, Director Peter Taylor sold 500 shares of Edison International stock in a transaction that occurred on Monday, October 12th. The stock was sold at an average price of $55.56, for a total transaction of $27,780.00. Following the completion of the transaction, the director directly owned 33,212 shares in the company, valued at approximately $1,845,258.72. The trade was a 1.48% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. BlackRock Inc. bought a new stake in Edison International in the 2nd quarter valued at $3,340,412,000. Legal & General Group Plc bought a new position in Edison International during the second quarter worth $329,766,000. Bank of New York Mellon Corp bought a new position in shares of Edison International in the second quarter valued at about $309,361,000. Amundi lifted its stake in shares of Edison International by 27.0% during the 2nd quarter. Amundi now owns 3,570,726 shares of the utilities provider’s stock worth $265,843,000 after buying an additional 759,236 shares during the last quarter. Finally, Hsbc Holdings PLC acquired a new stake in shares of Edison International during the 2nd quarter worth about $261,275,000. 88.95% of the stock is owned by institutional investors and hedge funds.

About Edison International

Edison International (NYSE: EIX) is an electric power holding company based in California. Its principal subsidiary, Southern California Edison (SCE), is one of the largest electric utilities in the United States and delivers electricity across central, coastal and Southern California. SCE serves millions of residential, commercial and industrial customers through an extensive transmission and distribution network.

Edison International’s operations are focused on the generation, transmission and distribution of electricity, as well as supporting the transition to cleaner energy.