Edison International (NYSE:EIX) Stock Rated “Hold” in New Coverage at HSBC

HSBC assumed coverage on shares of Edison International (NYSE:EIX) in a research note released on Thursday morning, MarketBeat reports. The firm issued a hold rating and a $56.50 target price on the utilities provider’s stock.

A number of other research firms also recently issued reports on EIX. Mizuho reiterated a “neutral” rating and set a $70.00 price target (down from $86.00) on shares of Edison International in a research note on Monday, August 31st. Truist Financial lowered their price objective on Edison International from $63.00 to $62.00 and set a “hold” rating for the company in a research note on Monday, October 12th. Barclays lowered their price objective on Edison International from $75.00 to $53.00 and set an “equal weight” rating for the company in a research note on Friday, October 9th. The Goldman Sachs Group set a $67.00 target price on Edison International in a report on Thursday, October 15th. Finally, Bank of America cut Edison International from a “buy” rating to a “neutral” rating and cut their target price for the company from $81.00 to $51.00 in a research report on Tuesday, September 1st. One analyst has rated the stock with a Buy rating, ten have issued a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, Edison International currently has a consensus rating of “Reduce” and a consensus target price of $60.58.

Edison International Stock Down 1.0%

Shares of NYSE EIX opened at $57.34 on Thursday. 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 $22.07 billion, a PE ratio of 5.91, a P/E/G ratio of 2.43 and a beta of 0.62. The company’s fifty day simple moving average is $58.90 and its 200 day simple moving average is $67.75. Edison International has a 12-month low of $51.10 and a 12-month high of $81.62.

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

Edison International Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, October 31st. Stockholders of record on Wednesday, October 7th will be issued a $0.8775 dividend. The ex-dividend date is Wednesday, October 7th. This represents a $3.51 annualized dividend and a dividend yield of 6.1%. Edison International’s dividend payout ratio is currently 36.19%.

Insider Buying and Selling at Edison International

In related news, Director Peter Taylor sold 500 shares of the firm’s stock in a transaction dated Monday, October 12th. The shares were sold at an average price of $55.56, for a total transaction of $27,780.00. Following the transaction, the director directly owned 33,212 shares of the company’s stock, valued at $1,845,258.72. This trade represents a 1.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Edison International

Institutional investors have recently added to or reduced their stakes in the company. Rakuten Investment Management Inc. purchased a new stake in shares of Edison International during the second quarter valued at approximately $4,750,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Edison International during the second quarter worth $33,328,000. Jupiter Topco LLC bought a new stake in Edison International during the second quarter worth $3,577,000. Corient Private Wealth LP lifted its holdings in Edison International by 49.7% during the second quarter. Corient Private Wealth LP now owns 136,621 shares of the utilities provider’s stock worth $10,171,000 after acquiring an additional 45,336 shares during the period. Finally, Allworth Financial LP purchased a new position in Edison International in the second quarter worth $2,586,000. 88.95% of the stock is owned by institutional investors.

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.