Zacks Research Has Negative Forecast for EIX FY2024 Earnings

Edison International (NYSE:EIX) – Research analysts at Zacks Research decreased their FY2024 earnings per share estimates for shares of Edison International in a research note issued on Monday, December 9th. Zacks Research analyst A. Dutta now forecasts that the utilities provider will earn $4.94 per share for the year, down from their previous estimate of $4.99. The consensus estimate for Edison International’s current full-year earnings is $4.95 per share. Zacks Research also issued estimates for Edison International’s Q4 2025 earnings at $1.35 EPS, FY2025 earnings at $5.60 EPS and FY2026 earnings at $5.89 EPS.

Several other brokerages have also weighed in on EIX. Royal Bank of Canada increased their price objective on shares of Edison International from $94.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. Morgan Stanley cut their price objective on shares of Edison International from $74.00 to $72.00 and set an “underweight” rating for the company in a research report on Friday, November 22nd. Argus upped their target price on Edison International from $82.00 to $97.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. UBS Group lifted their price target on Edison International from $86.00 to $89.00 and gave the stock a “neutral” rating in a report on Wednesday, September 4th. Finally, Jefferies Financial Group began coverage on Edison International in a report on Thursday, November 7th. They issued a “buy” rating and a $93.00 price objective on the stock. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat, Edison International has a consensus rating of “Moderate Buy” and a consensus price target of $88.75.

Edison International Stock Performance

Shares of NYSE EIX opened at $81.57 on Thursday. Edison International has a 12 month low of $63.15 and a 12 month high of $88.77. The stock has a 50 day moving average of $84.57 and a 200-day moving average of $81.05. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96. The company has a market capitalization of $31.58 billion, a P/E ratio of 23.92, a P/E/G ratio of 2.01 and a beta of 0.92.

Edison International (NYSE:EIX) last announced its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.38 by $0.13. Edison International had a net margin of 8.52% and a return on equity of 13.17%. The company had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.01 billion. During the same quarter last year, the firm posted $1.38 EPS. The company’s quarterly revenue was up 10.6% on a year-over-year basis.

Edison International Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, October 7th were given a dividend of $0.78 per share. The ex-dividend date was Monday, October 7th. This represents a $3.12 annualized dividend and a dividend yield of 3.82%. Edison International’s dividend payout ratio is 91.50%.

Insider Activity at Edison International

In related news, VP Adam S. Umanoff sold 25,619 shares of the company’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $83.05, for a total transaction of $2,127,657.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.03% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Highline Wealth Partners LLC bought a new stake in shares of Edison International during the 3rd quarter valued at approximately $26,000. Eastern Bank bought a new stake in shares of Edison International during the third quarter worth $27,000. Larson Financial Group LLC increased its holdings in shares of Edison International by 125.0% during the third quarter. Larson Financial Group LLC now owns 351 shares of the utilities provider’s stock worth $31,000 after buying an additional 195 shares in the last quarter. Prospera Private Wealth LLC bought a new position in shares of Edison International in the 3rd quarter valued at $32,000. Finally, Ashton Thomas Private Wealth LLC bought a new stake in Edison International during the 2nd quarter worth $27,000. Institutional investors and hedge funds own 88.95% of the company’s stock.

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.