Edison International (NYSE:EIX) Rating Lowered to “Neutral” at Guggenheim

Edison International (NYSE:EIX) was downgraded by analysts at Guggenheim from a “buy” rating to a “neutral” rating in a research report issued on Thursday, Marketbeat.com reports.

A number of other research firms have also recently issued reports on EIX. Royal Bank of Canada increased their target price on Edison International from $94.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. Jefferies Financial Group assumed coverage on shares of Edison International in a report on Thursday, November 7th. They set a “buy” rating and a $93.00 price objective on the stock. Wells Fargo & Company increased their target price on Edison International from $87.00 to $94.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. UBS Group decreased their price objective on Edison International from $87.00 to $69.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Finally, Morgan Stanley cut their target price on Edison International from $74.00 to $72.00 and set an “underweight” rating on the stock in a research note on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, Edison International presently has an average rating of “Moderate Buy” and a consensus target price of $82.88.

Edison International Stock Up 2.5 %

Shares of NYSE:EIX opened at $58.71 on Thursday. The company has a 50 day moving average price of $77.69 and a two-hundred day moving average price of $80.95. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.81 and a current ratio of 0.88. The company has a market capitalization of $22.73 billion, a PE ratio of 17.22, a PEG ratio of 1.20 and a beta of 0.93. Edison International has a 52 week low of $55.27 and a 52 week high of $88.77.

Edison International (NYSE:EIX) last released its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.38 by $0.13. The business had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.01 billion. Edison International had a net margin of 8.52% and a return on equity of 13.17%. The firm’s quarterly revenue was up 10.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.38 EPS. Analysts forecast that Edison International will post 4.94 earnings per share for the current year.

Insider Activity

In related news, VP Adam S. Umanoff sold 25,619 shares of Edison International stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $83.05, for a total transaction of $2,127,657.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.03% of the stock is owned by insiders.

Institutional Trading of Edison International

Hedge funds have recently made changes to their positions in the business. Blair William & Co. IL acquired a new stake in Edison International during the 2nd quarter valued at $223,000. Frank Rimerman Advisors LLC lifted its stake in shares of Edison International by 36,800.0% during the 2nd quarter. Frank Rimerman Advisors LLC now owns 2,952 shares of the utilities provider’s stock worth $212,000 after buying an additional 2,944 shares during the last quarter. Public Sector Pension Investment Board boosted its holdings in shares of Edison International by 50.2% during the 2nd quarter. Public Sector Pension Investment Board now owns 65,215 shares of the utilities provider’s stock worth $4,683,000 after buying an additional 21,784 shares during the period. Evergreen Capital Management LLC grew its stake in Edison International by 5.2% in the 2nd quarter. Evergreen Capital Management LLC now owns 4,302 shares of the utilities provider’s stock valued at $309,000 after buying an additional 212 shares during the last quarter. Finally, Bank of Montreal Can lifted its position in Edison International by 5.3% during the second quarter. Bank of Montreal Can now owns 695,620 shares of the utilities provider’s stock worth $50,022,000 after acquiring an additional 34,701 shares during the last quarter. 88.95% of the stock is owned by institutional investors and hedge funds.

Edison International Company Profile

Edison International, through its subsidiaries, engages in the generation and distribution of electric power. The company supplies and delivers electricity to approximately 50,000 square mile area of southern California to residential, commercial, industrial, public authorities, agricultural, and other sectors.