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Is a Correction Looming Ahead for Edison International (EIX)

Edison International (NYSE:EIX) went down by -1.68% from its latest closing price compared to the recent 1-year high of $73.32. The company’s stock price has collected -5.40% of loss in the last five trading sessions. Barron’s reported on 09/07/22 that Tesla, PG&E, and 3 More Stocks to Track in California’s Power Crisis

Is It Worth Investing in Edison International (NYSE :EIX) Right Now?

Edison International (NYSE:EIX) scored a price-to-earnings ratio above its average ratio, recording 34.67 x from its present earnings ratio. Plus, the 36-month beta value for EIX is at 0.78. Opinions of the stock are interesting as 7 analysts out of 16 who provided ratings for Edison International declared the stock was a “buy,” while 1 rated the stock as “overweight,” 6 rated it as “hold,” and 1 as “sell.”

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The average price from analysts is $68.54, which is $3.4 above the current price. EIX currently public float of 381.54M and currently shorts hold a 2.05% ratio of that float. Today, the average trading volume of EIX was 1.95M shares.

EIX’s Market Performance

EIX stocks went down by -5.40% for the week, with a monthly jump of 0.88% and a quarterly performance of 14.37%, while its annual performance rate touched 3.01%. The volatility ratio for the week stands at 2.18% while the volatility levels for the past 30 days are set at 2.21% for Edison International. The simple moving average for the period of the last 20 days is -0.77% for EIX stocks with a simple moving average of 0.69% for the last 200 days.

Analysts’ Opinion of EIX

Many brokerage firms have already submitted their reports for EIX stocks, with UBS repeating the rating for EIX by listing it as a “Buy.” The predicted price for EIX in the upcoming period, according to UBS is $75 based on the research report published on January 03rd of the current year 2023.

Credit Suisse, on the other hand, stated in their research note that they expect to see EIX reach a price target of $64. The rating they have provided for EIX stocks is “Neutral” according to the report published on October 03rd, 2022.

Morgan Stanley gave a rating of “Underweight” to EIX, setting the target price at $62 in the report published on September 06th of the previous year.

EIX Trading at 2.03% from the 50-Day Moving Average

After a stumble in the market that brought EIX to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -10.43% of loss for the given period.

Volatility was left at 2.21%, however, over the last 30 days, the volatility rate increased by 2.18%, as shares surge +1.11% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +11.25% upper at present.

During the last 5 trading sessions, EIX fell by -5.40%, which changed the moving average for the period of 200-days by -7.56% in comparison to the 20-day moving average, which settled at $66.21. In addition, Edison International saw 3.22% in overturn over a single year, with a tendency to cut further gains.

Insider Trading

Reports are indicating that there were more than several insider trading activities at EIX starting from CHANG VANESSA C L, who purchase 111 shares at the price of $69.30 back on May 02. After this action, CHANG VANESSA C L now owns 6,178 shares of Edison International, valued at $7,692 using the latest closing price.

CHANG VANESSA C L, the Director of Edison International, purchase 155 shares at $67.18 during a trade that took place back on Mar 24, which means that CHANG VANESSA C L is holding 6,011 shares at $10,413 based on the most recent closing price.

Stock Fundamentals for EIX

Current profitability levels for the company are sitting at:

  • +18.92 for the present operating margin
  • +23.50 for the gross margin

The net margin for Edison International stands at +5.49. Equity return is now at value 5.60, with 1.00 for asset returns.

The liquidity ratio also appears to be rather interesting for investors as it stands at 0.64.

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