KeyCorp Comments on Edison International’s Q3 2022 Earnings (NYSE:EIX)

Edison International (NYSE:EIXGet Rating) – Research analysts at KeyCorp upped their Q3 2022 earnings per share (EPS) estimates for shares of Edison International in a note issued to investors on Tuesday, June 14th. KeyCorp analyst S. Karp now forecasts that the utilities provider will post earnings per share of $1.72 for the quarter, up from their prior forecast of $1.65. The consensus estimate for Edison International’s current full-year earnings is $4.44 per share. KeyCorp also issued estimates for Edison International’s FY2025 earnings at $5.42 EPS and FY2026 earnings at $5.77 EPS.

Several other brokerages have also commented on EIX. Citigroup lifted their target price on Edison International from $67.00 to $79.00 in a research report on Wednesday, May 4th. Morgan Stanley decreased their target price on Edison International from $65.00 to $64.00 and set an “equal weight” rating for the company in a research report on Monday, May 23rd. StockNews.com started coverage on Edison International in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Royal Bank of Canada raised their price target on Edison International from $73.00 to $82.00 and gave the stock an “outperform” rating in a report on Thursday, April 14th. Finally, Mizuho downgraded Edison International from a “buy” rating to a “neutral” rating and cut their price target for the stock from $82.00 to $72.00 in a report on Tuesday, May 10th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $72.63.

Shares of EIX opened at $60.98 on Wednesday. The firm has a market cap of $23.22 billion, a price-to-earnings ratio of 39.86, a PEG ratio of 3.87 and a beta of 0.64. The stock has a 50 day moving average of $69.11 and a 200-day moving average of $66.39. The company has a current ratio of 0.63, a quick ratio of 0.58 and a debt-to-equity ratio of 1.59. Edison International has a 52 week low of $54.14 and a 52 week high of $73.32.

Edison International (NYSE:EIXGet Rating) last issued its earnings results on Tuesday, May 3rd. The utilities provider reported $1.07 EPS for the quarter, topping the consensus estimate of $0.74 by $0.33. The company had revenue of $3.97 billion during the quarter, compared to analyst estimates of $3.34 billion. Edison International had a return on equity of 12.27% and a net margin of 4.22%. The business’s revenue was up 34.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.79 EPS.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. SFE Investment Counsel raised its stake in Edison International by 0.5% during the 1st quarter. SFE Investment Counsel now owns 32,695 shares of the utilities provider’s stock valued at $2,292,000 after acquiring an additional 155 shares in the last quarter. Conning Inc. raised its stake in Edison International by 4.1% during the 4th quarter. Conning Inc. now owns 4,093 shares of the utilities provider’s stock valued at $279,000 after acquiring an additional 163 shares in the last quarter. Deseret Mutual Benefit Administrators raised its stake in Edison International by 6.4% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 2,758 shares of the utilities provider’s stock valued at $188,000 after acquiring an additional 165 shares in the last quarter. Aberdeen Wealth Management LLC raised its stake in Edison International by 4.3% during the 1st quarter. Aberdeen Wealth Management LLC now owns 4,072 shares of the utilities provider’s stock valued at $285,000 after acquiring an additional 169 shares in the last quarter. Finally, Cypress Wealth Services LLC raised its stake in Edison International by 4.5% during the 4th quarter. Cypress Wealth Services LLC now owns 4,046 shares of the utilities provider’s stock valued at $276,000 after acquiring an additional 173 shares in the last quarter. 87.89% of the stock is currently owned by institutional investors and hedge funds.

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.

Further Reading

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

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