Zacks Research Has Negative Outlook of EIX FY2024 Earnings

Edison International (NYSE:EIX) – Zacks Research lowered their FY2024 earnings per share estimates for Edison International in a research note issued on Monday, December 9th. Zacks Research analyst A. Dutta now expects that the utilities provider will post earnings per share of $4.94 for the year, down from their prior estimate of $4.99. The consensus estimate for Edison International’s current full-year earnings is $4.94 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.

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

Other research analysts have also issued reports about the stock. Morgan Stanley decreased their price target on shares of Edison International from $74.00 to $72.00 and set an “underweight” rating for the company in a report on Friday, November 22nd. UBS Group upped their target price on Edison International from $86.00 to $89.00 and gave the company a “neutral” rating in a report on Wednesday, September 4th. Jefferies Financial Group started coverage on Edison International in a research report on Thursday, November 7th. They set a “buy” rating and a $93.00 price target on the stock. Barclays boosted their price objective on Edison International from $89.00 to $91.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Finally, Argus increased their target price on Edison International from $82.00 to $97.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, Edison International currently has an average rating of “Moderate Buy” and a consensus target price of $88.75.

Edison International Stock Performance

Edison International stock opened at $81.89 on Thursday. The company has a market cap of $31.70 billion, a PE ratio of 24.01, a P/E/G ratio of 1.95 and a beta of 0.92. Edison International has a 12 month low of $63.15 and a 12 month high of $88.77. The company has a fifty day moving average price of $84.35 and a two-hundred day moving average price of $81.06. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81.

Edison International Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, January 7th will be issued a $0.8275 dividend. The ex-dividend date is Tuesday, January 7th. This is a boost from Edison International’s previous quarterly dividend of $0.78. This represents a $3.31 annualized dividend and a dividend yield of 4.04%. Edison International’s dividend payout ratio (DPR) is 91.50%.

Insider Activity

In other Edison International 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 value of $2,127,657.95. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.03% of the stock is owned by insiders.

Institutional Investors Weigh In On Edison International

Institutional investors and hedge funds have recently modified their holdings of the stock. State Street Corp raised its holdings in Edison International by 0.7% during the 3rd quarter. State Street Corp now owns 32,549,936 shares of the utilities provider’s stock worth $2,834,774,000 after buying an additional 224,337 shares during the period. FMR LLC raised its holdings in shares of Edison International by 8.7% during the third quarter. FMR LLC now owns 21,800,874 shares of the utilities provider’s stock valued at $1,898,638,000 after acquiring an additional 1,741,835 shares during the period. Geode Capital Management LLC lifted its position in shares of Edison International by 2.2% in the 3rd quarter. Geode Capital Management LLC now owns 9,620,520 shares of the utilities provider’s stock valued at $835,142,000 after acquiring an additional 210,461 shares in the last quarter. Clearbridge Investments LLC boosted its stake in Edison International by 0.5% in the 2nd quarter. Clearbridge Investments LLC now owns 5,015,988 shares of the utilities provider’s stock worth $360,198,000 after purchasing an additional 24,834 shares during the period. Finally, American Century Companies Inc. grew its position in Edison International by 1.8% during the 2nd quarter. American Century Companies Inc. now owns 3,864,399 shares of the utilities provider’s stock worth $277,503,000 after purchasing an additional 67,089 shares in the last quarter. 88.95% of the stock is 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.