Edison International (EIX) Price Target Lowered to $78.00 at Deutsche Bank

Edison International (NYSE:EIX) had its price objective trimmed by Deutsche Bank to $78.00 in a report issued on Wednesday. The firm currently has a hold rating on the utilities provider’s stock.

A number of other brokerages have also commented on EIX. ValuEngine upgraded shares of Edison International from a hold rating to a buy rating in a research note on Wednesday, November 15th. Royal Bank Of Canada reissued a buy rating and issued a $84.00 price objective on shares of Edison International in a report on Sunday, September 17th. Morgan Stanley boosted their price objective on shares of Edison International from $90.00 to $92.00 and gave the company an equal weight rating in a report on Friday, September 8th. Mizuho reissued a buy rating and issued a $87.00 price objective (up previously from $84.00) on shares of Edison International in a report on Wednesday, August 23rd. Finally, Bank of America reissued a buy rating and issued a $86.00 price objective on shares of Edison International in a report on Tuesday, October 24th. Eleven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock currently has a consensus rating of Hold and an average price target of $84.54.

Shares of Edison International (NYSE:EIX) traded down $1.28 on Wednesday, reaching $68.72. 10,027,600 shares of the company were exchanged, compared to its average volume of 1,776,035. Edison International has a twelve month low of $67.80 and a twelve month high of $83.38. The firm has a market cap of $22,806.78, a price-to-earnings ratio of 15.94, a P/E/G ratio of 2.54 and a beta of 0.23. 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 (NYSE:EIX) last announced its quarterly earnings results on Monday, October 30th. The utilities provider reported $1.43 EPS for the quarter, beating the Zacks’ 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 business had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.53 billion. During the same quarter in the prior year, the business earned $1.29 EPS. Edison International’s quarterly revenue was down 2.5% on a year-over-year basis. analysts anticipate that Edison International will post 4.33 earnings per share for the current year.

In other Edison International news, insider Ronald L. Litzinger sold 224,718 shares of the company’s stock in a transaction that occurred 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 directly owns 14,121 shares in the company, valued at approximately $1,157,922. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.41% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Wetherby Asset Management Inc. increased its position in Edison International by 0.3% in the 2nd quarter. Wetherby Asset Management Inc. now owns 3,824 shares of the utilities provider’s stock valued at $299,000 after acquiring an additional 12 shares during the period. HL Financial Services LLC increased its position in shares of Edison International by 2.7% during the second quarter. HL Financial Services LLC now owns 2,681 shares of the utilities provider’s stock worth $210,000 after buying an additional 70 shares during the period. Cutter & CO Brokerage Inc. increased its position in shares of Edison International by 1.6% during the second quarter. Cutter & CO Brokerage Inc. now owns 4,635 shares of the utilities provider’s stock worth $362,000 after buying an additional 75 shares during the period. Veritable L.P. increased its position in shares of Edison International by 0.8% during the second quarter. Veritable L.P. now owns 10,853 shares of the utilities provider’s stock worth $849,000 after buying an additional 84 shares during the period. Finally, Stratos Wealth Partners LTD. increased its position in shares of Edison International by 2.7% during the second quarter. Stratos Wealth Partners LTD. now owns 3,717 shares of the utilities provider’s stock worth $291,000 after buying an additional 97 shares during the period. Hedge funds and other institutional investors own 81.36% of the company’s stock.

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About Edison International

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.

Analyst Recommendations for Edison International (NYSE:EIX)

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