Edison International (NYSE:EIX) was downgraded by equities researchers at Bank of America from a “buy” rating to a “neutral” rating in a research note issued on Thursday, MarketBeat reports. They presently have a $75.00 price target on the utilities provider’s stock, up from their previous price target of $72.00. Bank of America’s price objective indicates a potential upside of 9.25% from the company’s current price.

Several other research analysts have also commented on EIX. Morgan Stanley cut their price objective on Edison International from $70.00 to $67.00 and set an “equal weight” rating for the company in a report on Wednesday, June 13th. Zacks Investment Research raised Edison International from a “sell” rating to a “hold” rating in a report on Wednesday, June 20th. ValuEngine raised Edison International from a “strong sell” rating to a “sell” rating in a report on Thursday, June 28th. TheStreet raised Edison International from a “c” rating to a “b-” rating in a report on Thursday, July 5th. Finally, Citigroup cut their price objective on Edison International from $72.00 to $65.00 and set a “hold” rating for the company in a report on Monday, July 9th. Eleven analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $73.92.

EIX stock opened at $68.65 on Thursday. The company has a quick ratio of 0.61, a current ratio of 0.66 and a debt-to-equity ratio of 0.99. The stock has a market cap of $22.05 billion, a price-to-earnings ratio of 15.26, a P/E/G ratio of 2.84 and a beta of 0.08. Edison International has a twelve month low of $57.63 and a twelve month high of $83.38.

Edison International (NYSE:EIX) last posted its earnings results on Thursday, July 26th. The utilities provider reported $0.84 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.83 by $0.01. Edison International had a return on equity of 10.27% and a net margin of 4.34%. The business had revenue of $2.82 billion during the quarter, compared to analyst estimates of $2.97 billion. During the same quarter in the previous year, the firm earned $0.85 EPS. The company’s quarterly revenue was down 5.1% compared to the same quarter last year. Sell-side analysts expect that Edison International will post 4.08 EPS for the current fiscal year.

Institutional investors and hedge funds have recently modified their holdings of the business. Covalis Capital LLP purchased a new stake in Edison International in the second quarter worth approximately $11,857,000. AMP Capital Investors Ltd boosted its stake in Edison International by 16.4% in the second quarter. AMP Capital Investors Ltd now owns 673,119 shares of the utilities provider’s stock worth $42,588,000 after buying an additional 94,850 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Edison International by 3.2% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,679,935 shares of the utilities provider’s stock worth $106,290,000 after buying an additional 52,371 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its stake in Edison International by 4.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,284,919 shares of the utilities provider’s stock worth $81,297,000 after buying an additional 57,319 shares in the last quarter. Finally, Commonwealth Bank of Australia boosted its stake in Edison International by 35.3% in the second quarter. Commonwealth Bank of Australia now owns 49,681 shares of the utilities provider’s stock worth $3,136,000 after buying an additional 12,971 shares in the last quarter. 81.83% of the stock is owned by institutional investors and hedge funds.

Edison International Company Profile

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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