Edison International (NYSE:EIX) Upgraded to Buy by ValuEngine

Edison International (NYSE:EIX) was upgraded by research analysts at ValuEngine from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday, November 15th.

Other equities research analysts also recently issued research reports about the stock. Mizuho reiterated a “buy” rating and issued a $87.00 target price (up previously from $84.00) on shares of Edison International in a research report on Wednesday, August 23rd. BMO Capital Markets reiterated a “buy” rating and issued a $85.00 target price on shares of Edison International in a research report on Thursday, August 17th. Jefferies Group restated a “buy” rating on shares of Edison International in a report on Thursday, August 17th. SunTrust Banks restated a “buy” rating and set a $89.00 price target on shares of Edison International in a report on Monday, October 2nd. Finally, Royal Bank Of Canada restated a “buy” rating and set a $84.00 price target on shares of Edison International in a report on Sunday, September 17th. Nine research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $85.08.

Shares of Edison International (NYSE EIX) opened at $80.76 on Wednesday. Edison International has a 1-year low of $68.01 and a 1-year high of $83.38. The company has a current ratio of 0.51, a quick ratio of 0.47 and a debt-to-equity ratio of 0.80. The firm has a market cap of $26,312.50, a P/E ratio of 18.40, a P/E/G ratio of 2.93 and a beta of 0.23.

Edison International (NYSE:EIX) last posted its quarterly earnings data on Monday, October 30th. The utilities provider reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.33 by $0.10. Edison International had a net margin of 13.18% and a return on equity of 10.84%. The firm had revenue of $3.67 billion during the quarter, compared to analyst estimates of $3.53 billion. During the same quarter last year, the business posted $1.29 EPS. The company’s revenue was down 2.5% on a year-over-year basis. equities research analysts predict that Edison International will post 4.33 EPS for the current fiscal year.

In other Edison International news, insider Ronald L. Litzinger sold 224,718 shares of the firm’s stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $82.00, for a total value of $18,426,876.00. Following the sale, the insider now directly owns 14,121 shares in the company, valued at approximately $1,157,922. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.41% of the company’s stock.

Institutional investors have recently modified their holdings of the company. Amica Retiree Medical Trust acquired a new stake in shares of Edison International during the 3rd quarter valued at about $138,000. Sun Life Financial INC lifted its holdings in Edison International by 16,935.7% during the 2nd quarter. Sun Life Financial INC now owns 2,385 shares of the utilities provider’s stock valued at $186,000 after purchasing an additional 2,371 shares during the last quarter. OxFORD Asset Management LLP bought a new position in Edison International during the 2nd quarter valued at about $204,000. TCI Wealth Advisors Inc. lifted its holdings in Edison International by 139.7% during the 3rd quarter. TCI Wealth Advisors Inc. now owns 2,630 shares of the utilities provider’s stock valued at $203,000 after purchasing an additional 1,533 shares during the last quarter. Finally, Shelton Capital Management bought a new position in Edison International during the 2nd quarter valued at about $206,000. Institutional investors and hedge funds own 81.36% of the company’s stock.

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Edison International Company Profile

Edison International is the holding company of Southern California Edison Company (SCE). As of December 31, 2016, SCE, a public utility, was primarily engaged in the business of supplying and delivering electricity to an approximately 50,000 square mile area of southern California. The Company is also the parent company of Edison Energy Group, Inc (Edison Energy Group), a holding company for subsidiaries engaged in pursuing competitive business opportunities across energy services and distributed solar to commercial and industrial customers.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Edison International (NYSE:EIX)

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