FY2024 EPS Estimates for Edison International Raised by Zacks Research (NYSE:EIX)

Edison International (NYSE:EIX) – Equities researchers at Zacks Research raised their FY2024 earnings per share estimates for shares of Edison International in a research note issued on Wednesday, August 14th. Zacks Research analyst A. Dutta now forecasts that the utilities provider will post earnings of $5.03 per share for the year, up from their previous forecast of $4.92. The consensus estimate for Edison International’s current full-year earnings is $4.92 per share. Zacks Research also issued estimates for Edison International’s Q4 2024 earnings at $1.23 EPS, Q1 2025 earnings at $1.25 EPS, Q3 2025 earnings at $1.98 EPS, FY2025 earnings at $5.55 EPS, Q1 2026 earnings at $1.55 EPS, Q2 2026 earnings at $1.41 EPS and FY2026 earnings at $5.84 EPS.

EIX has been the subject of a number of other research reports. Morgan Stanley cut their target price on shares of Edison International from $64.00 to $61.00 and set an “underweight” rating for the company in a research report on Monday, June 24th. UBS Group lowered Edison International from a “buy” rating to a “neutral” rating and lowered their target price for the company from $83.00 to $82.00 in a report on Friday, July 19th. Evercore ISI upped their price target on Edison International from $82.00 to $88.00 and gave the stock an “outperform” rating in a report on Wednesday. Mizuho raised their price objective on shares of Edison International from $75.00 to $85.00 and gave the stock a “buy” rating in a research note on Friday, May 17th. Finally, Wells Fargo & Company upped their target price on shares of Edison International from $86.00 to $87.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $80.09.

Edison International Stock Performance

Shares of Edison International stock traded up $0.15 on Friday, reaching $83.31. The stock had a trading volume of 81,192 shares, compared to its average volume of 2,021,177. The company has a debt-to-equity ratio of 2.04, a quick ratio of 0.96 and a current ratio of 1.03. The business’s 50-day moving average price is $75.55 and its two-hundred day moving average price is $72.06. The stock has a market cap of $32.05 billion, a P/E ratio of 36.47 and a beta of 0.91. Edison International has a fifty-two week low of $58.82 and a fifty-two week high of $83.80.

Edison International (NYSE:EIX) last released its quarterly earnings data on Thursday, July 25th. The utilities provider reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.18. Edison International had a return on equity of 13.01% and a net margin of 6.60%. The firm had revenue of $4.34 billion for the quarter, compared to the consensus estimate of $4.12 billion. During the same quarter in the prior year, the company posted $1.01 earnings per share. The firm’s revenue was up 9.4% on a year-over-year basis.

Edison International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Monday, July 8th were given a dividend of $0.78 per share. The ex-dividend date of this dividend was Monday, July 8th. This represents a $3.12 annualized dividend and a dividend yield of 3.75%. Edison International’s dividend payout ratio (DPR) is currently 136.84%.

Insider Activity at Edison International

In other Edison International news, CEO J Andrew Murphy sold 32,505 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $80.12, for a total transaction of $2,604,300.60. Following the completion of the transaction, the chief executive officer now owns 19,660 shares in the company, valued at $1,575,159.20. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, VP Natalie K. Schilling sold 2,341 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $80.00, for a total value of $187,280.00. Following the sale, the vice president now owns 6,338 shares in the company, valued at approximately $507,040. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO J Andrew Murphy sold 32,505 shares of the stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $80.12, for a total transaction of $2,604,300.60. Following the sale, the chief executive officer now owns 19,660 shares of the company’s stock, valued at approximately $1,575,159.20. The disclosure for this sale can be found here. Insiders have sold a total of 73,845 shares of company stock valued at $5,823,662 over the last quarter. 1.03% of the stock is owned by company insiders.

Hedge Funds Weigh In On Edison International

A number of institutional investors and hedge funds have recently added to or reduced their stakes in EIX. Capital Research Global Investors boosted its holdings in shares of Edison International by 23.0% in the 4th quarter. Capital Research Global Investors now owns 19,999,563 shares of the utilities provider’s stock worth $1,429,769,000 after acquiring an additional 3,734,550 shares in the last quarter. Norges Bank acquired a new position in Edison International in the fourth quarter worth $210,327,000. M&G Plc bought a new stake in shares of Edison International during the first quarter worth $85,436,000. Capital International Investors increased its stake in shares of Edison International by 6.4% in the first quarter. Capital International Investors now owns 13,297,917 shares of the utilities provider’s stock valued at $940,562,000 after buying an additional 795,950 shares in the last quarter. Finally, Morningstar Investment Services LLC raised its holdings in shares of Edison International by 98.1% in the fourth quarter. Morningstar Investment Services LLC now owns 1,347,664 shares of the utilities provider’s stock valued at $96,492,000 after buying an additional 667,273 shares during the last quarter. 88.95% of the stock is currently owned by institutional investors and hedge funds.

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.