ValuEngine Downgrades Edison International (EIX) to Strong Sell

ValuEngine downgraded shares of Edison International (NYSE:EIX) from a sell rating to a strong sell rating in a report issued on Friday.

EIX has been the topic of a number of other reports. Morgan Stanley reaffirmed a hold rating on shares of Edison International in a report on Monday, August 27th. Bank of America downgraded 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 report 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 report on Thursday, August 2nd. Zacks Investment Research reaffirmed a buy rating and set a $76.00 price objective on shares of Edison International in a report on Tuesday. Finally, Citigroup set a $72.00 price objective on shares of Edison International and gave the stock a hold rating in a report on Tuesday, October 9th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company. Edison International currently has an average rating of Hold and an average target price of $72.69.

NYSE EIX traded up $7.26 during mid-day trading on Friday, hitting $54.45. The company’s stock had a trading volume of 8,828,208 shares, compared to its average volume of 3,423,436. Edison International has a twelve month low of $45.50 and a twelve month high of $81.96. The company has a current ratio of 0.72, a quick ratio of 0.66 and a debt-to-equity ratio of 1.02. The company has a market cap of $17.55 billion, a P/E ratio of 12.10, a PEG ratio of 2.19 and a beta of 0.01.

Edison International (NYSE:EIX) last posted its quarterly earnings results on Tuesday, October 30th. The utilities provider reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.25. The business had revenue of $4.27 billion during the quarter, compared to the consensus estimate of $3.47 billion. Edison International had a net margin of 4.47% and a return on equity of 10.61%. Edison International’s revenue was up 16.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.43 EPS. Sell-side analysts predict that Edison International will post 4.14 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 31st. Investors of record on Friday, September 28th were issued a $0.605 dividend. This represents a $2.42 dividend on an annualized basis and a dividend yield of 4.44%. The ex-dividend date of this dividend was Thursday, September 27th. Edison International’s dividend payout ratio (DPR) is currently 53.78%.

Large investors have recently modified their holdings of the stock. Covalis Capital LLP purchased a new position in shares of Edison International in the 2nd quarter worth about $11,857,000. AMP Capital Investors Ltd boosted its holdings in shares of Edison International by 16.4% in the 2nd quarter. AMP Capital Investors Ltd now owns 673,119 shares of the utilities provider’s stock worth $42,588,000 after buying an additional 94,850 shares during the last quarter. Commonwealth Bank of Australia boosted its holdings in shares of Edison International by 35.3% in the 2nd quarter. Commonwealth Bank of Australia now owns 49,681 shares of the utilities provider’s stock worth $3,136,000 after buying an additional 12,971 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Edison International by 3.2% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,679,935 shares of the utilities provider’s stock worth $106,290,000 after buying an additional 52,371 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its holdings in shares of Edison International by 4.7% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,284,919 shares of the utilities provider’s stock worth $81,297,000 after buying an additional 57,319 shares during the last quarter. 81.24% of the stock is currently owned by institutional investors.

Edison International Company Profile

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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