Edison International (NYSE:EIX) Sets New 52-Week Low – Time to Sell?

Edison International (NYSE:EIX) shares reached a new 52-week low during trading on Tuesday . The stock traded as low as $47.73 and last traded at $48.57, with a volume of 184767 shares. The stock had previously closed at $48.35.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Morgan Stanley cut their price objective on shares of Edison International from $52.00 to $51.00 and set an “underweight” rating for the company in a report on Wednesday. JPMorgan Chase & Co. cut their price objective on shares of Edison International from $75.00 to $71.00 and set a “neutral” rating for the company in a report on Monday, May 19th. Barclays raised their price objective on shares of Edison International from $64.00 to $67.00 and gave the stock an “overweight” rating in a report on Thursday, May 1st. Wells Fargo & Company cut their price objective on shares of Edison International from $94.00 to $75.00 and set an “overweight” rating for the company in a report on Friday, February 28th. Finally, Wolfe Research downgraded shares of Edison International from an “outperform” rating to a “peer perform” rating in a report on Monday, June 9th. One analyst has rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $76.82.

Edison International Stock Performance

The company has a market cap of $19.43 billion, a PE ratio of 7.16, a PEG ratio of 1.16 and a beta of 0.78. The business’s 50-day moving average is $55.27 and its 200 day moving average is $60.46. The company has a debt-to-equity ratio of 2.06, a quick ratio of 0.89 and a current ratio of 0.96.

Edison International (NYSE:EIX) last issued its earnings results on Tuesday, April 29th. The utilities provider reported $1.37 EPS for the quarter, topping analysts’ consensus estimates of $1.21 by $0.16. The company had revenue of $3.81 billion for the quarter, compared to analysts’ expectations of $4.29 billion. Edison International had a net margin of 16.84% and a return on equity of 13.21%. The firm’s revenue was down 6.5% compared to the same quarter last year. During the same quarter last year, the company earned $1.13 EPS. On average, equities research analysts predict that Edison International will post 4.95 EPS for the current fiscal year.

Hedge Funds Weigh In On Edison International

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

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.