Edison International (EIX) Lowered to “Strong Sell” at ValuEngine

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ValuEngine cut shares of Edison International (NYSE:EIX) from a sell rating to a strong sell rating in a research note issued to investors on Friday.

A number of other equities analysts have also recently commented on EIX. Zacks Investment Research cut shares of Edison International from a buy rating to a hold rating in a research note on Tuesday, October 16th. Bank of America cut shares of Edison International from a buy rating to a neutral rating and lifted their price objective for the stock from $72.00 to $75.00 in a research note on Thursday, October 11th. Argus lifted their price objective on shares of Edison International from $71.00 to $75.00 and gave the stock a buy rating in a research note on Thursday, August 2nd. SunTrust Banks dropped their price objective on shares of Edison International to $75.00 and set a buy rating for the company in a research note on Thursday, November 15th. Finally, Wells Fargo & Co lifted their price objective on shares of Edison International from $72.00 to $76.00 and gave the stock an outperform rating in a research note on Friday, July 27th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the stock. Edison International currently has a consensus rating of Hold and a consensus price target of $71.54.

Shares of NYSE:EIX opened at $53.91 on Friday. Edison International has a 52 week low of $45.50 and a 52 week high of $81.96. The firm has a market capitalization of $17.74 billion, a price-to-earnings ratio of 11.98, a price-to-earnings-growth ratio of 2.21 and a beta of 0.01. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.72 and a quick ratio of 0.66.

Edison International (NYSE:EIX) last issued its quarterly earnings data on Tuesday, October 30th. The utilities provider reported $1.56 EPS for the quarter, topping analysts’ consensus estimates of $1.31 by $0.25. Edison International had a net margin of 4.47% and a return on equity of 10.61%. The business had revenue of $4.27 billion during the quarter, compared to analysts’ expectations of $3.47 billion. During the same period last year, the company posted $1.43 EPS. The business’s revenue was up 16.3% on a year-over-year basis. As a group, research analysts expect that Edison International will post 4.14 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 31st. Investors of record on Friday, September 28th were paid a dividend of $0.605 per share. The ex-dividend date of this dividend was Thursday, September 27th. This represents a $2.42 dividend on an annualized basis and a dividend yield of 4.49%. Edison International’s dividend payout ratio is presently 53.78%.

Hedge funds have recently added to or reduced their stakes in the stock. Kiley Juergens Wealth Management LLC purchased a new position in shares of Edison International during the 2nd quarter worth about $110,000. Stelac Advisory Services LLC purchased a new position in shares of Edison International during the 3rd quarter worth about $129,000. Virtus ETF Advisers LLC boosted its stake in shares of Edison International by 696.8% during the 3rd quarter. Virtus ETF Advisers LLC now owns 2,000 shares of the utilities provider’s stock worth $135,000 after purchasing an additional 1,749 shares during the period. Gradient Investments LLC boosted its stake in shares of Edison International by 94.2% during the 3rd quarter. Gradient Investments LLC now owns 2,039 shares of the utilities provider’s stock worth $138,000 after purchasing an additional 989 shares during the period. Finally, Bbva Compass Bancshares Inc. purchased a new position in shares of Edison International during the 3rd quarter worth about $155,000. 81.93% of the stock is owned by hedge funds and other institutional investors.

About Edison International

Edison International, through its subsidiaries, engages in the generation, transmission, and distribution of electricity in the United States. It generates electricity through hydroelectric, diesel/liquid petroleum gas, natural gas, nuclear, and photovoltaic sources. The company supplies electricity primarily to residential, commercial, industrial, agricultural, and other customers, as well as public authorities through transmission and distribution networks.

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Analyst Recommendations for Edison International (NYSE:EIX)

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