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

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

Several other research analysts have also weighed in on the company. Barclays dropped their target price on Edison International from $67.00 to $65.00 and set an “overweight” rating on the stock in a research report on Monday. Guggenheim downgraded Edison International from a “buy” rating to a “neutral” rating in a report on Thursday, January 23rd. Mizuho reduced their target price on shares of Edison International from $75.00 to $66.00 and set an “outperform” rating for the company in a research note on Monday. Jefferies Financial Group began coverage on shares of Edison International in a research report on Thursday, November 7th. They issued a “buy” rating and a $93.00 target price for the company. Finally, LADENBURG THALM/SH SH upgraded shares of Edison International from a “sell” rating to a “neutral” rating and set a $56.50 price target on the stock in a report on Wednesday, January 15th. 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 stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $76.54.

Edison International Stock Up 1.5 %

EIX stock opened at $55.25 on Tuesday. The company’s 50 day simple moving average is $60.89 and its 200-day simple moving average is $76.21. Edison International has a 52-week low of $49.06 and a 52-week high of $88.77. 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 capitalization of $21.39 billion, a P/E ratio of 16.21, a P/E/G ratio of 1.07 and a beta of 0.90.

Edison International (NYSE:EIX) last posted its quarterly earnings results on Thursday, February 27th. The utilities provider reported $1.05 EPS for the quarter, missing the consensus estimate of $1.08 by ($0.03). The company had revenue of $17.60 billion for 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, equities research analysts anticipate that Edison International will post 4.95 EPS for the current year.

Institutional Trading of Edison International

A number of hedge funds have recently bought and sold shares of the stock. Assetmark Inc. raised its position in shares of Edison International by 32.9% during the third quarter. Assetmark Inc. now owns 634 shares of the utilities provider’s stock valued at $55,000 after buying an additional 157 shares during the last quarter. Centennial Wealth Advisory LLC increased its stake in Edison International by 3.3% during the third quarter. Centennial Wealth Advisory LLC now owns 5,378 shares of the utilities provider’s stock valued at $468,000 after acquiring an additional 172 shares during the period. Jamison Private Wealth Management Inc. raised its holdings in Edison International by 2.6% in the 4th quarter. Jamison Private Wealth Management Inc. now owns 6,887 shares of the utilities provider’s stock valued at $550,000 after acquiring an additional 174 shares in the last quarter. Bleakley Financial Group LLC lifted its position in shares of Edison International by 2.9% in the 4th quarter. Bleakley Financial Group LLC now owns 6,297 shares of the utilities provider’s stock worth $503,000 after acquiring an additional 176 shares during the period. Finally, Old Port Advisors lifted its position in shares of Edison International by 0.9% in the 4th quarter. Old Port Advisors now owns 19,292 shares of the utilities provider’s stock worth $1,540,000 after acquiring an additional 180 shares during the period. 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.