Edison International (EIX) Rating Lowered to Hold at ValuEngine

Edison International (NYSE:EIX) was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating in a report released on Tuesday.

A number of other equities research analysts have also recently issued reports on the stock. Bank of America reiterated a “buy” rating and set a $86.00 target price on shares of Edison International in a research report on Tuesday, October 24th. Morgan Stanley raised their price objective on shares of Edison International from $90.00 to $92.00 and gave the company an “equal weight” rating in a research report on Friday, September 8th. BidaskClub upgraded shares of Edison International from a “sell” rating to a “hold” rating in a research report on Tuesday, August 22nd. SunTrust Banks restated a “buy” rating and issued a $89.00 price objective on shares of Edison International in a research report on Monday, October 30th. Finally, Royal Bank Of Canada restated a “buy” rating and issued a $84.00 price objective on shares of Edison International in a research report on Sunday, September 17th. Eleven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $84.85.

Edison International (EIX) opened at $68.72 on Tuesday. The company has a market cap of $22,806.78, a PE ratio of 15.94, a PEG ratio of 2.54 and a beta of 0.23. Edison International has a 1-year low of $67.80 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.

Edison International (NYSE:EIX) last released 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. The company had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.53 billion. Edison International had a net margin of 13.18% and a return on equity of 10.84%. The firm’s revenue for the quarter was down 2.5% compared to the same quarter last year. During the same period last year, the firm earned $1.29 EPS. research analysts anticipate that Edison International will post 4.33 earnings per share for the current fiscal year.

In other Edison International news, insider Ronald L. Litzinger sold 224,718 shares of Edison International stock in a transaction that occurred 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 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 SEC, which is accessible through this link. Insiders own 0.41% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the stock. Prudential Financial Inc. increased its holdings in Edison International by 18.4% during the second quarter. Prudential Financial Inc. now owns 552,076 shares of the utilities provider’s stock worth $43,167,000 after buying an additional 85,968 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Edison International by 3.6% in 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 purchasing an additional 526,261 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of Edison International by 1.9% in the second quarter. Principal Financial Group Inc. now owns 655,277 shares of the utilities provider’s stock valued at $51,236,000 after purchasing an additional 12,086 shares during the last quarter. GAM Holding AG increased its holdings in shares of Edison International by 8.0% in the second quarter. GAM Holding AG now owns 43,152 shares of the utilities provider’s stock valued at $3,374,000 after purchasing an additional 3,198 shares during the last quarter. Finally, Aberdeen Asset Management PLC UK increased its holdings in shares of Edison International by 5.4% in the second quarter. Aberdeen Asset Management PLC UK now owns 505,199 shares of the utilities provider’s stock valued at $39,502,000 after purchasing an additional 25,936 shares during the last quarter. Institutional investors and hedge funds own 81.36% of the company’s stock.

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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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