FY2024 EPS Estimates for Edison International (NYSE:EIX) Cut by Analyst

Edison International (NYSE:EIX) – Investment analysts at Seaport Res Ptn lowered their FY2024 earnings estimates for shares of Edison International in a research note issued on Wednesday, April 24th. Seaport Res Ptn analyst A. Storozynski now forecasts that the utilities provider will earn $4.90 per share for the year, down from their previous estimate of $5.00. The consensus estimate for Edison International’s current full-year earnings is $4.94 per share. Seaport Res Ptn also issued estimates for Edison International’s FY2025 earnings at $5.70 EPS and FY2026 earnings at $5.99 EPS.

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

A number of other brokerages also recently issued reports on EIX. Guggenheim raised shares of Edison International from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $66.00 to $84.00 in a research report on Monday, January 22nd. TheStreet lowered shares of Edison International from a “b” rating to a “c+” rating in a research report on Thursday, February 22nd. Mizuho dropped their price objective on shares of Edison International from $76.00 to $75.00 and set a “buy” rating on the stock in a report on Thursday, January 25th. Barclays upped their target price on Edison International from $69.00 to $70.00 and gave the company an “equal weight” rating in a research report on Monday, February 26th. Finally, StockNews.com raised Edison International from a “sell” rating to a “hold” rating in a report on Saturday, February 24th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Edison International presently has an average rating of “Hold” and a consensus price target of $73.60.

Edison International Price Performance

Shares of EIX stock opened at $70.16 on Friday. The stock’s 50-day moving average is $68.98 and its 200 day moving average is $67.70. 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. The company has a market cap of $26.99 billion, a P/E ratio of 22.49 and a beta of 0.96.

Institutional Trading of Edison International

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Able Wealth Management LLC acquired a new stake in Edison International during the 4th quarter worth $25,000. Bruce G. Allen Investments LLC acquired a new stake in Edison International in the 4th quarter valued at about $27,000. Global Trust Asset Management LLC purchased a new position in Edison International in the 1st quarter worth approximately $28,000. WASHINGTON TRUST Co boosted its holdings in shares of Edison International by 117.4% during the 4th quarter. WASHINGTON TRUST Co now owns 500 shares of the utilities provider’s stock worth $36,000 after purchasing an additional 270 shares during the last quarter. Finally, Northwest Financial Advisors acquired a new position in shares of Edison International during the 4th quarter worth approximately $40,000. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Edison International Dividend Announcement

The business also recently declared 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 annualized dividend and a yield of 4.45%. The ex-dividend date of this dividend is Wednesday, March 27th. Edison International’s payout ratio is presently 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.