LADENBURG THALM/SH SH Upgrades Edison International (NYSE:EIX) to “Neutral”

Edison International (NYSE:EIX) was upgraded by stock analysts at LADENBURG THALM/SH SH from a “sell” rating to a “neutral” rating in a research report issued on Wednesday, Marketbeat reports. The brokerage currently has a $56.50 target price on the utilities provider’s stock. LADENBURG THALM/SH SH’s target price would indicate a potential downside of 7.62% from the stock’s previous close.

Several other research analysts have also commented on the stock. Wells Fargo & Company lifted their price objective on shares of Edison International from $87.00 to $94.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Morgan Stanley dropped their price target on shares of Edison International from $74.00 to $72.00 and set an “underweight” rating for the company in a research note on Friday, November 22nd. Jefferies Financial Group began coverage on shares of Edison International in a report on Thursday, November 7th. They set a “buy” rating and a $93.00 price target on the stock. Barclays decreased their price objective on shares of Edison International from $84.00 to $76.00 and set an “overweight” rating for the company in a research note on Monday. Finally, Royal Bank of Canada upped their target price on Edison International from $94.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $83.58.

Edison International Stock Down 0.2 %

Shares of NYSE EIX opened at $61.16 on Wednesday. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96. Edison International has a 12-month low of $55.27 and a 12-month high of $88.77. The firm’s 50-day moving average price is $80.31 and its 200-day moving average price is $81.48. The stock has a market capitalization of $23.68 billion, a price-to-earnings ratio of 17.94, a P/E/G ratio of 1.34 and a beta of 0.93.

Edison International (NYSE:EIX) last issued its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.38 by $0.13. The business had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.01 billion. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The company’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.38 earnings per share. On average, equities research analysts anticipate that Edison International will post 4.94 EPS for the current fiscal year.

Insider Buying and Selling at Edison International

In other news, VP Adam S. Umanoff sold 25,619 shares of the firm’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $83.05, for a total transaction of $2,127,657.95. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 1.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Edison International

A number of hedge funds have recently added to or reduced their stakes in EIX. Highline Wealth Partners LLC bought a new stake in shares of Edison International in the 3rd quarter valued at about $26,000. Groupama Asset Managment increased its holdings in Edison International by 0.8% during the third quarter. Groupama Asset Managment now owns 29,911 shares of the utilities provider’s stock valued at $26,000 after buying an additional 237 shares during the period. Ashton Thomas Private Wealth LLC bought a new position in Edison International in the second quarter worth approximately $27,000. Eastern Bank bought a new position in Edison International in the third quarter worth approximately $27,000. Finally, Larson Financial Group LLC lifted its holdings in Edison International by 125.0% during the third quarter. Larson Financial Group LLC now owns 351 shares of the utilities provider’s stock worth $31,000 after buying an additional 195 shares during the period. 88.95% of the stock is owned by hedge funds and other institutional investors.

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.