Edison International (NYSE:EIX) does about 1.63M shares in volume on a normal day but saw 6254204 shares change hands in Friday trading. The company now has a market cap of 21.92B USD. Its current market price is $56.58, marking a decrease of -1.53% compared to the previous close of $57.46. The 52 week high reached by this stock is $73.32 whilst the lowest price level in 52 weeks is $54.98. The script in recent trading has seen the stock touch a high of $58.005 and a low of $56.555.
Edison International (EIX) has a 20-day trading average at $65.88 and the current price is -22.83% off the 52-week high compared with 2.91% distance from its 52-week low. The 50-day simple moving average of the closing price is $67.37 and its 200-day simple moving average is $66.05. If we look at the stock’s price movements over the week, volatility stands at 3.67%, which decreases to 2.67% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 21.15 to suggest the stock is oversold.
The consensus objective for the share price is $73.62, suggesting that the stock has a potential upside of 23.15% over the period. The median price target is 22.49% away from the current levels at $73.00.
The company shares received a number of brokerage firm price updates over the past month, with the latest being on September 06, 2022 when Morgan Stanley downgraded the stock to “Underweight” and issued a price target of between $69 and $62. UBS downgraded its price target at $75-$73.
The current price level is -14.88%, -16.12%, and -14.39% away from its SMA20, SMA50, and SMA200 respectively, with the EIX price moving above the 50-day SMA on September 30. Edison International (EIX) stock is down -12.77% over the week and -16.51% over the past month. Its price is -17.10% year-to-date and 2.00% over the past year.
The stock last released its quarterly earnings report for quarter ended 6/29/2022, with the company’s earnings per share (EPS) of $0.94 above consensus estimates by $0.02. EIX’s earnings per share are forecast to shrink by -2.00% this year and 7.80% over next year. Expected sales for next quarter are $3.29 billion, which analysts say will come at $15.58 billion for the current fiscal year and next year at $16.26 billion. In addition, estimates put the company’s current quarterly revenue at an average of $5.15 billion.
Its 12-month price target is $73.00. To reach the target analysts have set, the stock logically needs to grow 23.15 percent from here. Of course, the average price target is just what the average analysts believe a stock will be worth in the next 52 weeks, and is only one metric. There are analysts with lower targets than the average, including one bearish Wall Street research firm advocating investors to wait for the price to pull back to $62.00, given the recent momentum. And then, on the bullish side of things, one analyst is expecting the stock to peak at $82.00.
Outstanding shares total 381.43M with insiders holding 0.09% of the shares and institutional holders owning 89.58% of the company’s common stock. The company has a return on investment of 3.90% and return on equity of 3.90%. The price to earnings ratio (P/E ratio) amounts to 42.51 while the forward price to earnings ratio is 11.66. The beta has a value of 0.73. Price to book ratio is 1.56 and price to sales ratio is 1.32.
According to a U.S. Securities and Exchange Commission filing, Vanguard Total Stock Market Index has added its position in Edison International (EIX) to 11,308,254 shares, mirroring a recent increase by 0.20%. Vanguard Total Stock Market Index added 22461.0 shares of Edison International common stock bringing its total worth to about $766.36 million at the end of recent close, SEC documents show. Vanguard Total Stock Market Index isn’t the only investment manager who changed stakes and is followed by American Funds Investment Company, which added 0.12 million shares to end up with 11,073,714 shares worth $750.47 million. Vanguard Mid Cap Index Fund raise their holdings by 0.08% in the company over the course of the most recent quarter. It now holds a 2.30% position in Edison International thanks to 8.76 million shares amounting to $593.62 million.