Edison International (NYSE:EIX) Downgraded to “Peer Perform” Rating by Wolfe Research

Wolfe Research cut shares of Edison International (NYSE:EIX) from an outperform rating to a peer perform rating in a research report released on Monday morning, MarketBeat.com reports.

Several other research firms also recently issued reports on EIX. Evercore ISI reissued an “outperform” rating on shares of Edison International in a research report on Thursday, May 15th. UBS Group raised shares of Edison International from a “neutral” rating to a “buy” rating and dropped their price objective for the company from $69.00 to $65.00 in a research note on Tuesday, February 18th. Morgan Stanley set a $52.00 target price on shares of Edison International and gave the stock an “underweight” rating in a research report on Thursday, May 22nd. Wells Fargo & Company lowered their target price on shares of Edison International from $94.00 to $75.00 and set an “overweight” rating on the stock in a report on Friday, February 28th. Finally, The Goldman Sachs Group cut their price target on Edison International from $88.00 to $68.00 and set a “neutral” rating for the company in a research note on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $76.89.

Edison International Stock Performance

Shares of EIX opened at $49.43 on Monday. Edison International has a one year low of $48.38 and a one year high of $88.77. The company has a market cap of $19.02 billion, a PE ratio of 14.50, a P/E/G ratio of 1.07 and a beta of 0.78. The stock has a 50-day moving average of $56.01 and a 200-day moving average of $61.96. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81.

Edison International (NYSE:EIX) last announced its quarterly earnings results on Tuesday, April 29th. The utilities provider reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.16. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The business had revenue of $3.81 billion for the quarter, compared to analyst estimates of $4.29 billion. During the same quarter in the prior year, the company earned $1.13 earnings per share. The company’s quarterly revenue was down 6.5% on a year-over-year basis. On average, equities research analysts predict that Edison International will post 4.95 EPS for the current fiscal year.

Hedge Funds Weigh In On Edison International

Hedge funds have recently modified their holdings of the company. Rakuten Securities Inc. grew its holdings in shares of Edison International by 4,633.3% in the first quarter. Rakuten Securities Inc. now owns 426 shares of the utilities provider’s stock valued at $25,000 after acquiring an additional 417 shares in the last quarter. Barnes Dennig Private Wealth Management LLC purchased a new position in Edison International in the first quarter worth $25,000. Investment Management Corp VA ADV boosted its position in Edison International by 159.6% in the first quarter. Investment Management Corp VA ADV now owns 431 shares of the utilities provider’s stock worth $25,000 after purchasing an additional 265 shares during the last quarter. Sierra Ocean LLC bought a new position in Edison International in the 4th quarter valued at $33,000. Finally, Bellwether Advisors LLC purchased a new stake in shares of Edison International during the 4th quarter valued at $34,000. Institutional investors own 88.95% of the company’s stock.

Edison International Company Profile

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.