Edison International (NYSE:EIX) finished Friday with a subtraction of -$0.3 to close at $63.29, a downside of -0.47 percent. An average of 2,447,280 shares of common stock have been traded in the last five days. There was a fall of -$4.78 in the past week, and it reached a new high 28 times over the past 12 months. The last 20 days have seen an average of 1,988,185 shares traded, while the 50-day average volume stands at 1,647,484.
EIX stock has decreased by -9.50% in the last month. The company shares reached their 1-month lowest point of $62.23 on 09/29/23. With the stock rallying to its 52-week high on 05/01/23, shares of the company touched a low of $54.45 and a high of $74.92 in 52 weeks. It has reached a new high 20 times so far this year and lost -0.52% or -$0.33 in price. In spite of this, the price is down -15.52% from the 52-week high.
Insider Transactions
EIX stock investors should be aware that Edison International (EIX) stock had its last reported insider trading activity 15 days ago on Sep 15. In this transaction, the insider spent $803,967. SENIOR VICE PRESIDENT, Murphy J Andrew, disposed of 22,471 shares at a price of $72.03 on Apr 05. The insider now owns more than $1,618,645 worth of shares.
Valuation Metrics
Edison International (EIX) has a trailing price-to-earnings (P/E) ratio of 25.61. The stock’s beta is 0.84. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 1.41, the price-to-book (PB) ratio at 1.76.
The company has a payout ratio of 177.58%. The company’s most recent quarterly dividend payment was $0.7375 a share, representing a down of -0.07% from $0.7380 last year. Its latest decrease dividend $0.0005 reported on Thursday August 24 2023.
Financial Health
The quick ratio of Edison International for the three months ended June 29 was 0.78, and the current ratio was 0.84, indicating that the company is not able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 1.92 and a total debt to equity ratio of 2.20 for the quarter ending June 29. Its gross profit as reported stood at $1.48 billion compared to revenue of $17.22 billion.
Earnings Surprise
For the three-month period that ended June 29, Edison International had $29.43 billion in total debt. In the quarter under review, the net income was down than the previous quarter. The company posted a net income of $354.0 million in the quarter, while revenues were grew 31.92%. The analyst consensus anticipated Edison International’s latest quarter earnings to come in at $0.96 per share, but it turned out to be $1.01, a 5.20% surprise. For the quarter, EBITDA amounted to $1.47 billion. Shareholders own equity worth $383.29 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Edison International (EIX) price momentum. RSI 9-day as of the close on 29 September was 14.88%, suggesting the stock is oversold, with historical volatility in this time frame at 3.95%.
As of today, EIX’s price is $65.12 -7.02% or -$4.78 from its 5-day moving average. EIX is currently trading -8.08% lower than its 20-day SMA and -13.76% lower than its 100-day SMA. However, the stock’s current price level is -12.28% below the SMA50 and -6.13% below the SMA200.
The stochastic %K and %D were 5.23% and 5.32%, respectively, and the average true range (ATR) was 1.34. With the 14-day stochastic at 10.72% and the average true range at 1.29, the RSI (14) stands at 23.13%. The stock has reached -2.89 on the 9-day MACD Oscillator while the 14-day reading was at -4.36.
Analyst Ratings
Barclays launched coverage on Edison International (NYSE: EIX) in its analyst report released on August 23, 2023. The firm assigned the stock an Equal weight rating. The consensus rating for Edison International (EIX) among analysts is Overweight. According to current brokerage recommendations, 1 brokerage firm advise that investors sell EIX, while 8 suggest investors hold. There are 1 analyst who rate the stock as underweight. The stock is rated overweight by 1 analysts, while 7 others rate it as a “buy”.
What is EIX’s price target for the next 12 months?
Analysts predict a range of price targets between $53.00 and $86.00, with a median target of $75.50. Taking a look at these predictions, the average price target given by analysts for Edison International (EIX) stock is $74.20.
