ValuEngine Lowers Edison International (EIX) to Hold

Edison International (NYSE:EIX) was downgraded by equities research analysts at ValuEngine from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday, December 5th.

Several other research analysts have also weighed in on EIX. Jefferies Group upgraded shares of Edison International from a “hold” rating to a “buy” rating and upped their target price for the stock from $85.00 to $90.00 in a research report on Friday, August 11th. Morgan Stanley upped their target price on shares of Edison International from $86.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 10th. SunTrust Banks restated a “buy” rating and set a $89.00 target price on shares of Edison International in a research report on Monday, October 2nd. BMO Capital Markets restated a “buy” rating and set a $85.00 target price on shares of Edison International in a research report on Thursday, August 17th. Finally, Mizuho restated a “buy” rating and set a $87.00 target price (up from $84.00) on shares of Edison International in a research report on Wednesday, August 23rd. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and five have given a buy rating to the company’s stock. Edison International currently has an average rating of “Hold” and a consensus target price of $81.64.

Shares of Edison International (EIX) traded down $0.70 during trading on Tuesday, hitting $63.24. 2,130,000 shares of the stock were exchanged, compared to its average volume of 4,060,000. The company has a current ratio of 0.51, a quick ratio of 0.47 and a debt-to-equity ratio of 0.80. Edison International has a twelve month low of $62.67 and a twelve month high of $83.38. The firm has a market capitalization of $20,600.00, a price-to-earnings ratio of 14.44, a price-to-earnings-growth ratio of 2.32 and a beta of 0.23.

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

In related news, insider Ronald L. Litzinger sold 224,718 shares of the company’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $82.00, for a total transaction of $18,426,876.00. Following the transaction, the insider now owns 14,121 shares of the company’s stock, valued at $1,157,922. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.41% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of Edison International by 1.8% during the second quarter. Vanguard Group Inc. now owns 27,363,702 shares of the utilities provider’s stock valued at $2,139,568,000 after buying an additional 487,713 shares during the period. BlackRock Inc. lifted its stake in shares of Edison International by 1.1% during the second quarter. BlackRock Inc. now owns 24,659,823 shares of the utilities provider’s stock valued at $1,928,152,000 after buying an additional 270,625 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Edison International by 3.6% during the second quarter. JPMorgan Chase & Co. now owns 15,314,368 shares of the utilities provider’s stock valued at $1,197,430,000 after buying an additional 526,261 shares during the period. Boston Partners lifted its stake in shares of Edison International by 4.2% during the second quarter. Boston Partners now owns 3,736,312 shares of the utilities provider’s stock valued at $292,142,000 after buying an additional 151,153 shares during the period. Finally, FIL Ltd lifted its stake in shares of Edison International by 12.1% during the second quarter. FIL Ltd now owns 2,789,016 shares of the utilities provider’s stock valued at $218,073,000 after buying an additional 301,131 shares during the period. 81.14% of the stock is currently owned by institutional investors and hedge funds.

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About Edison International

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.

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