Edison International (EIX) Rating Increased to Sell at ValuEngine

ValuEngine upgraded shares of Edison International (NYSE:EIX) from a strong sell rating to a sell rating in a research report sent to investors on Thursday.

Other analysts have also issued reports about the stock. Zacks Investment Research upgraded shares of Edison International from a sell rating to a hold rating in a research report on Thursday, May 31st. Royal Bank of Canada restated a buy rating and set a $70.00 target price on shares of Edison International in a research report on Wednesday, March 14th. Morgan Stanley restated an equal weight rating and set a $69.00 target price (down from $72.00) on shares of Edison International in a research report on Thursday, March 8th. JPMorgan Chase & Co. boosted their target price on shares of Edison International from $65.00 to $68.00 and gave the company a neutral rating in a research report on Friday, June 1st. Finally, Wells Fargo & Co cut their target price on shares of Edison International from $74.00 to $72.00 and set a hold rating for the company in a research report on Monday, June 11th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the company’s stock. The company has a consensus rating of Hold and an average target price of $76.36.

Shares of Edison International opened at $63.27 on Thursday, according to Marketbeat. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.64 and a quick ratio of 0.59. The company has a market cap of $20.61 billion, a P/E ratio of 14.06, a price-to-earnings-growth ratio of 2.70 and a beta of 0.14. Edison International has a 12-month low of $57.63 and a 12-month high of $83.38.

Edison International (NYSE:EIX) last announced its earnings results on Tuesday, May 1st. The utilities provider reported $0.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.91 by ($0.11). The business had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.49 billion. Edison International had a net margin of 4.38% and a return on equity of 10.22%. The business’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.85 earnings per share. equities research analysts anticipate that Edison International will post 4.1 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 31st. Shareholders of record on Monday, July 2nd will be given a $0.605 dividend. The ex-dividend date is Friday, June 29th. This represents a $2.42 dividend on an annualized basis and a dividend yield of 3.82%. Edison International’s payout ratio is currently 53.78%.

Several institutional investors and hedge funds have recently bought and sold shares of the business. Baillie Gifford & Co. boosted its position in shares of Edison International by 0.5% in the first quarter. Baillie Gifford & Co. now owns 197,370 shares of the utilities provider’s stock worth $12,564,000 after purchasing an additional 910 shares during the period. Advisor Partners LLC lifted its holdings in shares of Edison International by 15.2% in the first quarter. Advisor Partners LLC now owns 6,963 shares of the utilities provider’s stock worth $443,000 after buying an additional 917 shares in the last quarter. Horizon Investment Services LLC lifted its holdings in shares of Edison International by 10.7% in the first quarter. Horizon Investment Services LLC now owns 9,879 shares of the utilities provider’s stock worth $629,000 after buying an additional 958 shares in the last quarter. Employees Retirement System of Texas lifted its holdings in shares of Edison International by 2.6% in the first quarter. Employees Retirement System of Texas now owns 40,000 shares of the utilities provider’s stock worth $2,546,000 after buying an additional 1,000 shares in the last quarter. Finally, IFM Investors Pty Ltd lifted its holdings in shares of Edison International by 10.9% in the first quarter. IFM Investors Pty Ltd now owns 10,320 shares of the utilities provider’s stock worth $657,000 after buying an additional 1,018 shares in the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

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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