Edison International (NYSE:EIX) Stock Rating Lowered by Wolfe Research

Edison International (NYSE:EIX) was downgraded by equities researchers at Wolfe Research from an “outperform” rating to a “peer perform” rating in a report issued on Monday, MarketBeat reports.

Other analysts have also issued reports about the company. Morgan Stanley set a $52.00 price objective on Edison International and gave the stock an “underweight” rating in a research report on Thursday, May 22nd. Barclays lifted their price target on shares of Edison International from $64.00 to $67.00 and gave the stock an “overweight” rating in a research report on Thursday, May 1st. Mizuho lowered their target price on shares of Edison International from $75.00 to $66.00 and set an “outperform” rating for the company in a report on Monday, March 3rd. The Goldman Sachs Group lowered their target price on shares of Edison International from $88.00 to $68.00 and set a “neutral” rating for the company in a report on Tuesday, March 4th. Finally, Wells Fargo & Company reduced their price target on Edison International from $94.00 to $75.00 and set an “overweight” rating on the stock in a research report on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, Edison International currently has a consensus rating of “Moderate Buy” and an average price target of $76.89.

Edison International Stock Performance

Shares of Edison International stock opened at $50.42 on Monday. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81. The firm has a market cap of $19.40 billion, a P/E ratio of 14.78, a P/E/G ratio of 1.07 and a beta of 0.78. The firm has a 50 day simple moving average of $55.86 and a 200 day simple moving average of $61.88. Edison International has a fifty-two week low of $48.38 and a fifty-two week high of $88.77.

Edison International (NYSE:EIX) last released its earnings results on Tuesday, April 29th. The utilities provider reported $1.37 EPS for the quarter, beating the consensus estimate of $1.21 by $0.16. The company had revenue of $3.81 billion during the quarter, compared to analysts’ expectations of $4.29 billion. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The business’s revenue for the quarter was down 6.5% on a year-over-year basis. During the same period last year, the firm earned $1.13 EPS. Sell-side analysts predict that Edison International will post 4.95 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Edison International

Institutional investors and hedge funds have recently modified their holdings of the business. Charles Schwab Investment Management Inc. boosted its holdings in shares of Edison International by 3.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,416,770 shares of the utilities provider’s stock valued at $192,955,000 after buying an additional 76,654 shares during the period. Tounjian Advisory Partners LLC acquired a new position in shares of Edison International in the first quarter valued at approximately $1,151,000. Proficio Capital Partners LLC acquired a new position in Edison International in the 4th quarter worth $6,859,000. RWC Asset Management LLP boosted its stake in Edison International by 207.1% in the 4th quarter. RWC Asset Management LLP now owns 398,812 shares of the utilities provider’s stock worth $31,841,000 after purchasing an additional 268,951 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in Edison International by 46.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 37,399 shares of the utilities provider’s stock worth $2,984,000 after purchasing an additional 11,840 shares during the period. 88.95% of the stock is currently owned by institutional investors and hedge funds.

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.