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 research report issued on Thursday,Finviz reports.

Other equities analysts have also recently issued research reports about the stock. Jefferies Financial Group assumed coverage on shares of Edison International in a research note on Thursday, November 7th. They set a “buy” rating and a $93.00 price objective for the company. UBS Group reduced their price objective on shares of Edison International from $87.00 to $69.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Morgan Stanley reduced their price objective on shares of Edison International from $74.00 to $72.00 and set an “underweight” rating for the company in a research note on Friday, November 22nd. Royal Bank of Canada boosted their price objective on shares of Edison International from $94.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. Finally, Barclays reduced their price objective on shares of Edison International from $76.00 to $67.00 and set an “overweight” rating for the company in a research note on Thursday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $82.88.

Edison International Price Performance

EIX opened at $58.12 on Thursday. The company has a market capitalization of $22.50 billion, a price-to-earnings ratio of 17.04, a PEG ratio of 1.28 and a beta of 0.93. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96. The firm has a 50-day moving average price of $78.19 and a 200-day moving average price of $81.12. Edison International has a twelve month low of $55.27 and a twelve month high of $88.77.

Edison International (NYSE:EIX) last posted its earnings results on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.38 by $0.13. The firm had revenue of $5.20 billion during 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 revenue was up 10.6% on a year-over-year basis. During the same quarter last year, the company earned $1.38 earnings per share. Equities analysts expect that Edison International will post 4.94 EPS for the current year.

Insider Transactions at Edison International

In other news, VP Adam S. Umanoff sold 25,619 shares of the business’s 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.03% of the company’s stock.

Institutional Investors Weigh In On Edison International

A number of hedge funds have recently made changes to their positions in EIX. Highline Wealth Partners LLC bought a new stake in Edison International during the 3rd quarter valued at $26,000. Groupama Asset Managment raised its holdings in Edison International by 0.8% during the 3rd quarter. Groupama Asset Managment now owns 29,911 shares of the utilities provider’s stock valued at $26,000 after buying an additional 237 shares during the last quarter. Eastern Bank bought a new stake in Edison International during the 3rd quarter valued at $27,000. Larson Financial Group LLC raised its holdings in Edison International by 125.0% during the 3rd quarter. Larson Financial Group LLC now owns 351 shares of the utilities provider’s stock valued at $31,000 after buying an additional 195 shares during the last quarter. Finally, Prospera Private Wealth LLC bought a new stake in Edison International during the 3rd quarter valued at $32,000. 88.95% of the stock is currently owned by institutional investors.

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.