Edison International [EIX] Revenue clocked in at $17.22 billion, up 10.03% YTD: What’s Next?

Edison International [NYSE: EIX] traded at a high on 03/30/23, posting a 0.29 gain after which it closed the day’ session at $70.00. The company report on March 27, 2023 that Southern California Edison Improves Grid Safety, Significantly Reduces Wildfire Threat.

Company has reduced the probability of catastrophic wildfires associated with its equipment by about 75%-80% since 2018.

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Company’s new three-year wildfire plan demonstrates operational progress, outlines critical work ahead.

The results of the trading session contributed to over 2361301 shares changing hands. Over the past one week, the price volatility of Edison International stands at 1.82% while the volatility over the past one month is 2.50%.

The market cap for EIX stock reached $25.87 billion, with 382.63 million shares outstanding and 382.22 million shares in the current float. Compared to the average trading volume of 2.09M shares, EIX reached a trading volume of 2361301 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Edison International [EIX]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for EIX shares is $70.69 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on EIX stock is a recommendation set at 2.40. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Wells Fargo have made an estimate for Edison International shares, keeping their opinion on the stock as Equal Weight, with their previous recommendation back on February 01, 2023. While these analysts kept the previous recommendation, UBS raised their target price from $69 to $75. The new note on the price target was released on January 03, 2023, representing the official price target for Edison International stock. Previously, the target price had yet another raise to $64, while Credit Suisse analysts kept a Neutral rating on EIX stock. On September 06, 2022, analysts decreased their price target for EIX shares from 69 to 62.

The Average True Range (ATR) for Edison International is set at 1.62, with the Price to Sales ratio for EIX stock in the period of the last 12 months amounting to 1.50. The Price to Book ratio for the last quarter was 1.95, with the Price to Cash per share for the same quarter was set at 2.47.

How has EIX stock performed recently?

Edison International [EIX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 6.00. With this latest performance, EIX shares gained by 8.38% in over the last four-week period, additionally plugging by 14.17% over the last 6 months – not to mention a rise of 0.39% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for EIX stock in for the last two-week period is set at 58.88, with the RSI for the last a single of trading hit 63.00, and the three-weeks RSI is set at 56.79 for Edison International [EIX]. The present Moving Average for the last 50 days of trading for this stock 67.54, while it was recorded at 69.08 for the last single week of trading, and 64.78 for the last 200 days.

Edison International [EIX]: Deeper insight into the fundamentals

Edison International’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.60 and a Current Ratio set at 0.70.

Earnings analysis for Edison International [EIX]

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for EIX. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Edison International go to 6.50%.

Insider trade positions for Edison International [EIX]

There are presently around $23,983 million, or 90.40% of EIX stock, in the hands of institutional investors. The top three institutional holders of EIX stocks are: VANGUARD GROUP INC with ownership of 48,365,315, which is approximately 3.557% of the company’s market cap and around 0.09% of the total institutional ownership; BLACKROCK INC., holding 39,992,117 shares of the stock with an approximate value of $2.79 billion in EIX stocks shares; and STATE STREET CORP, currently with $2.04 billion in EIX stock with ownership of nearly 0.049% of the company’s market capitalization.

Positions in Edison International stocks held by institutional investors increased at the end of Thursday and at the time of the Thursday reporting period, where 396 institutional holders increased their position in Edison International [NYSE:EIX] by around 19,282,576 shares. Additionally, 270 investors decreased positions by around 15,558,980 shares, while 122 investors held positions by with 308,749,381 shares. The mentioned changes placed institutional holdings at 343,590,937 shares, according to the latest SEC report filing. EIX stock had 90 new institutional investments in for a total of 1,807,345 shares, while 66 institutional investors sold positions of 2,607,849 shares during the same period.


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