Edison International (NYSE:EIX) Reaches New 52-Week Low – Here’s What Happened

Edison International (NYSE:EIX) shares reached a new 52-week low on Tuesday . The company traded as low as $48.38 and last traded at $49.43, with a volume of 10206171 shares changing hands. The stock had previously closed at $53.76.

Analyst Upgrades and Downgrades

EIX has been the topic of a number of research analyst reports. UBS Group upgraded Edison International from a “neutral” rating to a “buy” rating and dropped their price target for the company from $69.00 to $65.00 in a research note on Tuesday, February 18th. The Goldman Sachs Group dropped their price objective on shares of Edison International from $88.00 to $68.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 4th. Barclays increased their price target on shares of Edison International from $64.00 to $67.00 and gave the company an “overweight” rating in a report on Thursday, May 1st. Wolfe Research cut shares of Edison International from an “outperform” rating to a “peer perform” rating in a report on Monday. Finally, Wells Fargo & Company lowered their target price on Edison International from $94.00 to $75.00 and set an “overweight” rating on the stock in a research note on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Edison International presently has a consensus rating of “Moderate Buy” and a consensus price target of $76.89.

Edison International Stock Performance

The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96. The stock has a market cap of $19.02 billion, a price-to-earnings ratio of 14.50, a P/E/G ratio of 1.07 and a beta of 0.78. The company has a 50 day simple moving average of $56.01 and a 200 day simple moving average of $61.96.

Edison International (NYSE:EIX) last released its quarterly earnings data on Tuesday, April 29th. The utilities provider reported $1.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.21 by $0.16. The business had revenue of $3.81 billion during the quarter, compared to analysts’ expectations of $4.29 billion. Edison International had a net margin of 8.52% and a return on equity of 13.17%. The firm’s quarterly revenue was down 6.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.13 EPS. As a group, equities research analysts forecast that Edison International will post 4.95 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Sierra Ocean LLC acquired a new position in shares of Edison International in the fourth quarter valued at approximately $33,000. Bellwether Advisors LLC acquired a new position in Edison International in the 4th quarter valued at approximately $34,000. Rakuten Securities Inc. increased its position in Edison International by 4,633.3% in the 1st quarter. Rakuten Securities Inc. now owns 426 shares of the utilities provider’s stock valued at $25,000 after acquiring an additional 417 shares during the period. Barnes Dennig Private Wealth Management LLC acquired a new stake in Edison International in the first quarter valued at $25,000. Finally, Investment Management Corp VA ADV increased its holdings in Edison International by 159.6% in the first quarter. Investment Management Corp VA ADV now owns 431 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 265 shares during the period. Institutional investors and hedge funds own 88.95% of the company’s stock.

About Edison International

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.