JPMorgan Chase & Co. Cuts Edison International (NYSE:EIX) Price Target to $71.00

Edison International (NYSE:EIX) had its target price reduced by equities researchers at JPMorgan Chase & Co. from $75.00 to $71.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the utilities provider’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 22.02% from the stock’s current price.

A number of other equities research analysts also recently weighed in on the company. Guggenheim downgraded Edison International from a “buy” rating to a “neutral” rating in a research note on Thursday, January 23rd. Morgan Stanley restated an “overweight” rating on shares of Edison International in a research report on Wednesday, April 23rd. Evercore ISI reissued an “outperform” rating on shares of Edison International in a research note on Thursday. Mizuho reduced their price target on Edison International from $75.00 to $66.00 and set an “outperform” rating for the company in a research report on Monday, March 3rd. Finally, Wells Fargo & Company lowered their target price on Edison International from $94.00 to $75.00 and set an “overweight” rating on the stock in a research note on Friday, February 28th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, Edison International presently has an average rating of “Moderate Buy” and an average target price of $76.89.

Edison International Price Performance

Shares of Edison International stock traded down $0.44 during trading on Monday, hitting $58.19. The stock had a trading volume of 297,732 shares, compared to its average volume of 3,023,780. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81. The firm has a market cap of $22.39 billion, a P/E ratio of 17.08, a PEG ratio of 1.07 and a beta of 0.77. The business has a fifty day moving average of $56.81 and a two-hundred day moving average of $65.07. Edison International has a fifty-two week low of $49.06 and a fifty-two week high of $88.77.

Edison International (NYSE:EIX) last released its quarterly earnings results on Tuesday, April 29th. The utilities provider reported $1.37 earnings per share for the quarter, beating analysts’ consensus estimates of $1.21 by $0.16. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The business had revenue of $3.81 billion during the quarter, compared to analyst estimates of $4.29 billion. During the same quarter last year, the company posted $1.13 EPS. Edison International’s revenue for the quarter was down 6.5% on a year-over-year basis. On average, sell-side analysts expect that Edison International will post 4.95 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Crews Bank & Trust acquired a new position in Edison International during the 4th quarter valued at about $25,000. Sierra Ocean LLC bought a new position in shares of Edison International in the fourth quarter valued at approximately $33,000. Raleigh Capital Management Inc. grew its holdings in shares of Edison International by 285.3% in the fourth quarter. Raleigh Capital Management Inc. now owns 420 shares of the utilities provider’s stock valued at $34,000 after acquiring an additional 311 shares in the last quarter. Bellwether Advisors LLC bought a new position in shares of Edison International in the fourth quarter valued at approximately $34,000. Finally, Rakuten Securities Inc. grew its holdings in shares of Edison International by 4,633.3% in the first quarter. Rakuten Securities Inc. now owns 426 shares of the utilities provider’s stock valued at $25,000 after acquiring an additional 417 shares in the last quarter. 88.95% of the stock is owned by 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.