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

Edison International (NYSE:EIX) – Stock analysts at Zacks Research lifted their Q1 2024 earnings per share (EPS) estimates for shares of Edison International in a research report issued to clients and investors on Wednesday, April 10th. Zacks Research analyst A. Dutta now forecasts that the utilities provider will post earnings of $1.23 per share for the quarter, up from their previous forecast 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.

A number of other research firms also recently weighed in on EIX. Guggenheim upgraded Edison International from a “neutral” rating to a “buy” rating and upped their target price for the company from $66.00 to $84.00 in a research report on Monday, January 22nd. The Goldman Sachs Group assumed coverage on Edison International in a research report on Wednesday. They set a “neutral” rating and a $78.00 target price for the company. Mizuho cut their target price on Edison International from $76.00 to $75.00 and set a “buy” rating for the company in a research report on Thursday, January 25th. StockNews.com upgraded Edison International from a “sell” rating to a “hold” rating in a research report on Saturday, February 24th. Finally, Royal Bank of Canada cut their target price on Edison International from $81.00 to $80.00 and set an “outperform” rating for the company in a research report on Thursday, March 7th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat, Edison International has an average rating of “Hold” and an average price target of $73.60.

Edison International Stock Performance

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

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

Institutional Investors Weigh In On Edison International

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Capital Research Global Investors boosted its position in shares of Edison International by 23.0% during the 4th quarter. Capital Research Global Investors now owns 19,999,563 shares of the utilities provider’s stock valued at $1,429,769,000 after purchasing an additional 3,734,550 shares in the last quarter. Norges Bank bought a new position in Edison International in the fourth quarter worth approximately $222,895,000. Deutsche Bank AG boosted its holdings in Edison International by 266.3% in the third quarter. Deutsche Bank AG now owns 4,309,133 shares of the utilities provider’s stock worth $272,725,000 after acquiring an additional 3,132,877 shares in the last quarter. Invesco Ltd. boosted its holdings in Edison International by 36.8% in the first quarter. Invesco Ltd. now owns 5,732,894 shares of the utilities provider’s stock worth $401,877,000 after acquiring an additional 1,541,989 shares in the last quarter. Finally, Morgan Stanley boosted its holdings in Edison International by 33.5% in the fourth quarter. Morgan Stanley now owns 5,362,970 shares of the utilities provider’s stock worth $341,192,000 after acquiring an additional 1,345,379 shares in the last quarter. Institutional investors and hedge funds own 88.95% of the company’s stock.

Edison International Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th will be paid a $0.78 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $3.12 annualized dividend and a dividend yield of 4.55%. Edison International’s payout ratio is 100.00%.

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.