Edison International (NYSE:EIX) Downgraded by Guggenheim to Neutral

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

EIX has been the topic of a number of other reports. UBS Group reduced their target price on shares of Edison International from $87.00 to $69.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Barclays reduced their target price on shares of Edison International from $76.00 to $67.00 and set an “overweight” rating on the stock in a research report on Thursday. Jefferies Financial Group started coverage on shares of Edison International in a research report on Thursday, November 7th. They issued a “buy” rating and a $93.00 target price on the stock. LADENBURG THALM/SH SH raised shares of Edison International from a “sell” rating to a “neutral” rating and set a $56.50 target price on the stock in a research report on Wednesday, January 15th. Finally, Royal Bank of Canada increased their price objective on shares of Edison International from $94.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. One 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, the company currently has a consensus rating of “Moderate Buy” and an average price target of $82.88.

Edison International Stock Down 6.6 %

Shares of Edison International stock opened at $58.12 on Thursday. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96. The company’s fifty day simple moving average is $78.19 and its two-hundred day simple moving average is $81.12. The company has a market cap of $22.50 billion, a P/E ratio of 17.04, a PEG ratio of 1.28 and a beta of 0.93. Edison International has a 12-month low of $55.27 and a 12-month high of $88.77.

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

Insider Buying and Selling at Edison International

In other news, VP Adam S. Umanoff sold 25,619 shares of the stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $83.05, for a total value of $2,127,657.95. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 1.03% of the company’s stock.

Hedge Funds Weigh In On Edison International

Several institutional investors have recently made changes to their positions in EIX. Blair William & Co. IL bought a new position in shares of Edison International in the 2nd quarter worth approximately $223,000. Frank Rimerman Advisors LLC lifted its stake in shares of Edison International by 36,800.0% in the 2nd quarter. Frank Rimerman Advisors LLC now owns 2,952 shares of the utilities provider’s stock worth $212,000 after purchasing an additional 2,944 shares during the period. Public Sector Pension Investment Board lifted its stake in shares of Edison International by 50.2% in the 2nd quarter. Public Sector Pension Investment Board now owns 65,215 shares of the utilities provider’s stock worth $4,683,000 after purchasing an additional 21,784 shares during the period. Evergreen Capital Management LLC lifted its stake in shares of Edison International by 5.2% in the 2nd quarter. Evergreen Capital Management LLC now owns 4,302 shares of the utilities provider’s stock worth $309,000 after purchasing an additional 212 shares during the period. Finally, Bank of Montreal Can lifted its stake in shares of Edison International by 5.3% in the 2nd quarter. Bank of Montreal Can now owns 695,620 shares of the utilities provider’s stock worth $50,022,000 after purchasing an additional 34,701 shares during the period. Institutional investors own 88.95% of the company’s stock.

About Edison International

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.