In a challenging market environment, Edison International (NYSE:EIX) stock has touched a 52-week low, dipping to $62.95, with a steep 16.25% decline just in the past week. According to InvestingPro analysis, the stock's RSI indicates oversold territory, suggesting potential buying opportunities for value investors. The utility company, which has been navigating through a complex landscape of regulatory changes and economic pressures, has seen its shares retreat significantly over the past year. Investors have been cautious, reflecting a broader trend of risk aversion in the sector, which has contributed to the stock's downward trajectory. Despite these challenges, Edison International maintains a notable 5.09% dividend yield and has consistently paid dividends for 22 consecutive years. InvestingPro subscribers have access to 12 additional key insights about EIX, including detailed financial health scores and comprehensive valuation metrics in the Pro Research Report, helping investors make more informed decisions in this volatile market.
In other recent news, Edison International is navigating a multitude of developments. Amid ongoing wildfires in Los Angeles, the company's infrastructure and services have been affected, with the potential impact on the company's operations remaining uncertain. Meanwhile, analysts from Citi maintain a Buy rating on the company, noting that Edison International historically trades with low price volatility.
Barclays (LON:BARC) has upgraded Edison International's stock from Equalweight to Overweight, citing advancements in handling wildfire-related issues and regulatory proceedings, despite lowering the price target to $84.00. On the other hand, Ladenburg Thalmann downgraded the company's stock rating from Neutral to Sell due to concerns over the company's ability to achieve its long-term earnings growth target of 5%-7%.
Jefferies has initiated coverage on Edison International with a Buy rating, predicting an 18% total shareholder return based on an expected earnings per share growth rate of approximately 7% and an estimated 40-60% recovery from legacy wildfire costs. In terms of earnings, the company reported a Q3 2024 core earnings per share (EPS) of $1.51, with a year-to-date EPS of $3.88, and revised its 2024 core EPS guidance to a range of $4.80 to $5.00.
These recent developments underscore the dynamic landscape in which Edison International operates, with various factors influencing the company's performance and outlook.
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