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

Edison International (NYSE:EIX - Free Report) - Analysts at Zacks Research lifted their Q1 2024 earnings per share (EPS) estimates for shares of Edison International in a report issued on Wednesday, April 10th. Zacks Research analyst A. Dutta now anticipates that the utilities provider will earn $1.23 per share for the quarter, up from their previous estimate of $1.17. The consensus estimate for Edison International's current full-year earnings is $5.01 per share. Zacks Research also issued estimates for Edison International's Q2 2024 earnings at $1.11 EPS, Q3 2024 earnings at $1.38 EPS, Q4 2024 earnings at $1.18 EPS, FY2024 earnings at $4.90 EPS, Q1 2025 earnings at $1.46 EPS, Q2 2025 earnings at $1.24 EPS, Q3 2025 earnings at $1.61 EPS, FY2025 earnings at $5.59 EPS and Q1 2026 earnings at $1.55 EPS.

Several other equities analysts also recently commented on the company. Guggenheim upgraded Edison International from a "neutral" rating to a "buy" rating and increased their target price for the company from $66.00 to $84.00 in a research report on Monday, January 22nd. StockNews.com upgraded Edison International from a "sell" rating to a "hold" rating in a research report on Saturday, February 24th. The Goldman Sachs Group assumed coverage on Edison International in a research report on Wednesday. They set a "neutral" rating and a $78.00 price objective for the company. TheStreet downgraded Edison International from a "b" rating to a "c+" rating in a research report on Thursday, February 22nd. Finally, Royal Bank of Canada lowered their price objective on Edison International from $81.00 to $80.00 and set an "outperform" rating for the company in a research report on Thursday, March 7th. One equities research 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. According to data from MarketBeat.com, Edison International currently has a consensus rating of "Hold" and a consensus price target of $73.60.

Edison International Price Performance

NYSE:EIX traded down $0.21 during trading hours on Friday, hitting $68.63. The company's stock had a trading volume of 1,304,239 shares, compared to its average volume of 2,229,661. The stock has a fifty day simple moving average of $68.16 and a 200-day simple moving average of $67.23. The company has a market capitalization of $26.40 billion, a P/E ratio of 22.00 and a beta of 0.96. The company has a debt-to-equity ratio of 1.86, a current ratio of 0.79 and a quick ratio of 0.73. Edison International has a twelve month low of $58.82 and a twelve month high of $74.92.

Edison International (NYSE:EIX - Get Free Report) last released its quarterly earnings data on Thursday, February 22nd. The utilities provider reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.12. The business had revenue of $3.71 billion for the quarter, compared to analyst estimates of $4.19 billion. Edison International had a return on equity of 12.63% and a net margin of 8.35%. During the same period last year, the firm posted $1.14 earnings per share.

Institutional Investors Weigh In On Edison International

Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in Edison International by 1.7% in the first quarter. Vanguard Group Inc. now owns 44,530,226 shares of the utilities provider's stock worth $3,121,569,000 after purchasing an additional 731,841 shares during the last quarter. Capital Research Global Investors lifted its position in shares of Edison International by 23.0% during the 4th quarter. Capital Research Global Investors now owns 19,999,563 shares of the utilities provider's stock valued at $1,429,769,000 after buying an additional 3,734,550 shares during the last quarter. Pzena Investment Management LLC lifted its position in shares of Edison International by 1.5% during the 3rd quarter. Pzena Investment Management LLC now owns 13,316,887 shares of the utilities provider's stock valued at $842,826,000 after buying an additional 197,259 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of Edison International by 4.4% during the 4th quarter. Wellington Management Group LLP now owns 10,276,016 shares of the utilities provider's stock valued at $734,632,000 after buying an additional 433,845 shares during the last quarter. Finally, Clearbridge Investments LLC lifted its position in shares of Edison International by 8.9% during the 3rd quarter. Clearbridge Investments LLC now owns 6,830,749 shares of the utilities provider's stock valued at $432,318,000 after buying an additional 558,351 shares during the last quarter. Institutional investors own 88.95% of the company's stock.

Edison International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, March 28th will be paid a dividend of $0.78 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $3.12 annualized dividend and a yield of 4.55%. Edison International's dividend payout ratio is currently 100.00%.

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.