Zacks: Analysts Anticipate Edison International (NYSE:EIX) Will Post Earnings of $0.62 Per Share

Equities analysts predict that Edison International (NYSE:EIXGet Rating) will announce earnings per share (EPS) of $0.62 for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Edison International’s earnings, with estimates ranging from $0.39 to $0.73. Edison International reported earnings of $0.79 per share in the same quarter last year, which suggests a negative year-over-year growth rate of 21.5%. The firm is scheduled to issue its next quarterly earnings report after the market closes on Monday, January 1st.

On average, analysts expect that Edison International will report full year earnings of $4.43 per share for the current financial year, with EPS estimates ranging from $4.25 to $4.55. For the next fiscal year, analysts anticipate that the firm will report earnings of $4.75 per share, with EPS estimates ranging from $4.64 to $4.82. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for Edison International.

Edison International (NYSE:EIXGet Rating) last announced its earnings results on Thursday, February 24th. The utilities provider reported $1.16 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.05 by $0.11. Edison International had a return on equity of 11.73% and a net margin of 5.88%. The company had revenue of $3.33 billion for the quarter, compared to analyst estimates of $3.23 billion. During the same period in the prior year, the company posted $1.19 EPS. Edison International’s quarterly revenue was up 5.5% on a year-over-year basis.

Several equities research analysts have recently weighed in on EIX shares. Wells Fargo & Company boosted their target price on shares of Edison International from $70.00 to $79.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 30th. Morgan Stanley boosted their price objective on Edison International from $54.00 to $58.00 and gave the company an “equal weight” rating in a report on Tuesday, March 22nd. Argus increased their target price on Edison International from $68.00 to $73.00 and gave the stock a “buy” rating in a report on Wednesday, December 29th. StockNews.com assumed coverage on Edison International in a report on Thursday, March 31st. They issued a “hold” rating for the company. Finally, Royal Bank of Canada raised their price objective on Edison International from $73.00 to $82.00 and gave the stock an “outperform” rating in a research note on Thursday. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Edison International has a consensus rating of “Buy” and a consensus price target of $69.88.

A number of large investors have recently added to or reduced their stakes in the stock. First Personal Financial Services acquired a new stake in Edison International in the fourth quarter worth $26,000. Dixon Hughes Goodman Wealth Advisors LLC bought a new position in shares of Edison International during the fourth quarter worth about $32,000. EverSource Wealth Advisors LLC acquired a new stake in shares of Edison International in the 4th quarter worth about $33,000. First Horizon Advisors Inc. lifted its position in Edison International by 3,057.1% in the 3rd quarter. First Horizon Advisors Inc. now owns 884 shares of the utilities provider’s stock valued at $44,000 after purchasing an additional 856 shares during the last quarter. Finally, Dark Forest Capital Management LP bought a new stake in Edison International in the 3rd quarter valued at about $48,000. Institutional investors and hedge funds own 84.74% of the company’s stock.

EIX opened at $71.84 on Thursday. Edison International has a 12-month low of $54.14 and a 12-month high of $72.64. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.64 and a quick ratio of 0.59. The stock has a market capitalization of $27.36 billion, a PE ratio of 36.10, a P/E/G ratio of 4.11 and a beta of 0.68. The firm’s fifty day moving average price is $65.69 and its 200 day moving average price is $64.20.

The business also recently declared a quarterly dividend, which will be paid on Saturday, April 30th. Stockholders of record on Thursday, March 31st will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.90%. The ex-dividend date of this dividend is Wednesday, March 30th. Edison International’s payout ratio is 140.70%.

About Edison International (Get Rating)

Edison International, through its subsidiaries, generates and distributes electric power. It delivers electricity to 15 million residential, commercial, industrial, public authorities, agricultural, and other customers across Southern, Central, and Coastal California. The company also provides energy solutions to commercial and industrial users.

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Earnings History and Estimates for Edison International (NYSE:EIX)

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