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

Edison International (NYSE:EIXFree Report) – Equities researchers at Zacks Research upped their Q2 2024 earnings estimates for shares of Edison International in a research report issued to clients and investors on Tuesday, January 30th. Zacks Research analyst A. Dutta now forecasts that the utilities provider will post earnings per share of $1.05 for the quarter, up from their prior forecast of $1.04. The consensus estimate for Edison International’s current full-year earnings is $4.70 per share. Zacks Research also issued estimates for Edison International’s Q3 2024 earnings at $1.45 EPS.

Edison International (NYSE:EIXGet Free Report) last released its quarterly earnings results on Wednesday, November 1st. The utilities provider reported $1.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.46 by ($0.08). Edison International had a return on equity of 12.79% and a net margin of 8.75%. The firm had revenue of $4.70 billion for the quarter, compared to the consensus estimate of $5.71 billion. During the same quarter in the previous year, the business posted $1.48 EPS. The firm’s revenue for the quarter was down 10.1% compared to the same quarter last year.

Several other analysts also recently commented on EIX. StockNews.com raised shares of Edison International from a “sell” rating to a “hold” rating in a research report on Friday, January 5th. JPMorgan Chase & Co. reduced their price target on shares of Edison International from $79.00 to $75.00 and set a “neutral” rating for the company in a research report on Tuesday, October 17th. Guggenheim upgraded Edison International from a “neutral” rating to a “buy” rating and raised their price objective for the company from $66.00 to $84.00 in a research note on Monday, January 22nd. Barclays lowered their target price on Edison International from $72.00 to $69.00 and set an “equal weight” rating on the stock in a research note on Monday, January 22nd. Finally, Mizuho lowered their target price on Edison International from $76.00 to $75.00 and set a “buy” rating on the stock in a research note on Thursday, January 25th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Edison International has an average rating of “Hold” and a consensus price target of $72.91.

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Edison International Stock Up 1.2 %

Edison International stock opened at $68.30 on Thursday. The company has a debt-to-equity ratio of 1.89, a quick ratio of 0.75 and a current ratio of 0.80. Edison International has a 52-week low of $58.82 and a 52-week high of $74.92. The firm has a 50 day moving average price of $69.18 and a two-hundred day moving average price of $67.91. The firm has a market cap of $26.20 billion, a price-to-earnings ratio of 21.28, a PEG ratio of 3.60 and a beta of 0.94.

Edison International Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 31st. Investors of record on Friday, December 29th were issued a $0.78 dividend. The ex-dividend date was Thursday, December 28th. This is a boost from Edison International’s previous quarterly dividend of $0.74. This represents a $3.12 dividend on an annualized basis and a yield of 4.57%. Edison International’s payout ratio is currently 97.20%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Parallel Advisors LLC increased its stake in Edison International by 5.0% in the 2nd quarter. Parallel Advisors LLC now owns 3,306 shares of the utilities provider’s stock worth $230,000 after acquiring an additional 156 shares during the last quarter. Bleakley Financial Group LLC grew its position in Edison International by 2.4% in the 2nd quarter. Bleakley Financial Group LLC now owns 7,052 shares of the utilities provider’s stock valued at $490,000 after acquiring an additional 162 shares during the last quarter. First Trust Direct Indexing L.P. grew its position in Edison International by 2.5% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 6,604 shares of the utilities provider’s stock valued at $418,000 after acquiring an additional 162 shares during the last quarter. Axxcess Wealth Management LLC grew its position in Edison International by 2.6% in the 3rd quarter. Axxcess Wealth Management LLC now owns 6,461 shares of the utilities provider’s stock valued at $409,000 after acquiring an additional 164 shares during the last quarter. Finally, CarsonAllaria Wealth Management Ltd. grew its position in Edison International by 3.9% in the 3rd quarter. CarsonAllaria Wealth Management Ltd. now owns 4,432 shares of the utilities provider’s stock valued at $281,000 after acquiring an additional 165 shares during the last quarter. 88.17% of the stock is owned by hedge funds and other institutional investors.

Edison International Company Profile

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Edison International, through its subsidiaries, generates and distributes electric power. The company supplies electricity to approximately 50,000 square mile area of southern California to residential, commercial, industrial, public authorities, agricultural, and other sectors. It also provides decarbonization and energy solutions to commercial, institutional, and industrial customers in North America and Europe.

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

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