Zacks Research Equities Analysts Raise Earnings Estimates for Edison International (NYSE:EIX)

Edison International (NYSE:EIX) – Analysts at Zacks Research upped their Q1 2024 EPS estimates for Edison International in a report issued on Wednesday, April 10th. Zacks Research analyst A. Dutta now forecasts that the utilities provider will post earnings per share of $1.23 for the quarter, up from their prior estimate of $1.17. The consensus estimate for Edison International’s current full-year earnings is $5.01 per share. Zacks Research also issued estimates for Edison International’s Q2 2024 earnings at $1.11 EPS, Q3 2024 earnings at $1.38 EPS, Q4 2024 earnings at $1.18 EPS, FY2024 earnings at $4.90 EPS, Q1 2025 earnings at $1.46 EPS, Q2 2025 earnings at $1.24 EPS, Q3 2025 earnings at $1.61 EPS, FY2025 earnings at $5.59 EPS and Q1 2026 earnings at $1.55 EPS.

Edison International (NYSE:EIX) last posted its earnings results on Thursday, February 22nd. The utilities provider reported $1.28 EPS for the quarter, beating analysts’ consensus estimates of $1.16 by $0.12. Edison International had a net margin of 8.35% and a return on equity of 12.63%. The company had revenue of $3.71 billion during the quarter, compared to analysts’ expectations of $4.19 billion. During the same quarter in the prior year, the company posted $1.14 earnings per share.

Several other brokerages have also recently issued reports on EIX. Barclays raised their target price on shares of Edison International from $69.00 to $70.00 and gave the stock an “equal weight” rating in a report on Monday, February 26th. Mizuho dropped their target price on shares of Edison International from $76.00 to $75.00 and set a “buy” rating on the stock in a research report on Thursday, January 25th. StockNews.com upgraded shares of Edison International from a “sell” rating to a “hold” rating in a research report on Saturday, February 24th. The Goldman Sachs Group started coverage on shares of Edison International in a research note on Wednesday. They issued a “neutral” rating and a $78.00 price target on the stock. Finally, Guggenheim raised shares of Edison International from a “neutral” rating to a “buy” rating and raised their price target for the stock from $66.00 to $84.00 in a research note on Monday, January 22nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $73.60.

Edison International Trading Down 0.3 %

Shares of Edison International stock opened at $68.63 on Friday. The company has a debt-to-equity ratio of 1.86, a current ratio of 0.79 and a quick ratio of 0.73. The firm has a fifty day moving average price of $68.16 and a 200 day moving average price of $67.23. Edison International has a 1 year low of $58.82 and a 1 year high of $74.92. The stock has a market cap of $26.40 billion, a PE ratio of 22.00 and a beta of 0.96.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. RVW Wealth LLC acquired a new position in Edison International during the 3rd quarter worth approximately $25,000. Able Wealth Management LLC purchased a new stake in Edison International in the 4th quarter valued at $25,000. Bruce G. Allen Investments LLC purchased a new stake in Edison International in the 4th quarter valued at $27,000. Global Trust Asset Management LLC purchased a new stake in Edison International in the 1st quarter valued at $28,000. Finally, WASHINGTON TRUST Co raised its position in Edison International by 117.4% in the 4th quarter. WASHINGTON TRUST Co now owns 500 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 270 shares during the last quarter. Institutional investors and hedge funds own 88.95% of the company’s stock.

Edison International Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, March 28th will be issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 4.55%. The ex-dividend date of this dividend is Wednesday, March 27th. Edison International’s dividend payout ratio (DPR) is currently 100.00%.

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.