Edison International (NYSE:EIX) was downgraded by research analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued on Tuesday.

Other research analysts have also recently issued research reports about the stock. SunTrust Banks reiterated a “buy” rating and set a $89.00 price target on shares of Edison International in a report on Monday, October 30th. Bank of America reiterated a “buy” rating and set a $86.00 price target on shares of Edison International in a report on Tuesday, October 24th. Mizuho reiterated a “buy” rating and set a $87.00 price target (up previously from $84.00) on shares of Edison International in a report on Wednesday, August 23rd. BMO Capital Markets reiterated a “buy” rating and set a $85.00 price target on shares of Edison International in a report on Thursday, August 17th. Finally, Jefferies Group reiterated a “buy” rating on shares of Edison International in a report on Thursday, August 17th. Ten investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Edison International currently has a consensus rating of “Hold” and an average price target of $85.08.

Shares of Edison International (NYSE:EIX) traded down $10.26 on Tuesday, reaching $70.00. 17,106,900 shares of the company traded hands, compared to its average volume of 1,740,757. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.47 and a current ratio of 0.51. Edison International has a 1 year low of $68.76 and a 1 year high of $83.38. The stock has a market cap of $26,312.51, a P/E ratio of 18.40, a P/E/G ratio of 2.93 and a beta of 0.23.

Edison International (NYSE:EIX) last posted its quarterly earnings results on Monday, October 30th. The utilities provider reported $1.43 EPS for the quarter, topping the consensus estimate of $1.33 by $0.10. Edison International had a net margin of 13.18% and a return on equity of 10.84%. The company had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $3.53 billion. During the same quarter in the previous year, the business posted $1.29 EPS. The firm’s revenue was down 2.5% on a year-over-year basis. research analysts predict that Edison International will post 4.33 earnings per share for the current year.

In other news, insider Ronald L. Litzinger sold 224,718 shares of the company’s stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $82.00, for a total value of $18,426,876.00. Following the completion of the transaction, the insider now owns 14,121 shares in the company, valued at approximately $1,157,922. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.41% of the company’s stock.

Institutional investors have recently modified their holdings of the company. Prudential Financial Inc. boosted its holdings in shares of Edison International by 18.4% in the 2nd quarter. Prudential Financial Inc. now owns 552,076 shares of the utilities provider’s stock valued at $43,167,000 after buying an additional 85,968 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Edison International by 3.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 15,314,368 shares of the utilities provider’s stock worth $1,197,430,000 after purchasing an additional 526,261 shares during the period. Principal Financial Group Inc. boosted its stake in Edison International by 1.9% during the 2nd quarter. Principal Financial Group Inc. now owns 655,277 shares of the utilities provider’s stock worth $51,236,000 after purchasing an additional 12,086 shares during the period. GAM Holding AG boosted its stake in Edison International by 8.0% during the 2nd quarter. GAM Holding AG now owns 43,152 shares of the utilities provider’s stock worth $3,374,000 after purchasing an additional 3,198 shares during the period. Finally, Aberdeen Asset Management PLC UK boosted its stake in Edison International by 5.4% during the 2nd quarter. Aberdeen Asset Management PLC UK now owns 505,199 shares of the utilities provider’s stock worth $39,502,000 after purchasing an additional 25,936 shares during the period. Institutional investors and hedge funds own 81.36% of the company’s stock.

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Edison International Company Profile

Edison International is the holding company of Southern California Edison Company (SCE). As of December 31, 2016, SCE, a public utility, was primarily engaged in the business of supplying and delivering electricity to an approximately 50,000 square mile area of southern California. The Company is also the parent company of Edison Energy Group, Inc (Edison Energy Group), a holding company for subsidiaries engaged in pursuing competitive business opportunities across energy services and distributed solar to commercial and industrial customers.

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Analyst Recommendations for Edison International (NYSE:EIX)

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