Edison International (NYSE:EIX - Free Report) - Equities research analysts at Seaport Res Ptn reduced their FY2024 earnings per share (EPS) estimates for shares of Edison International in a research report issued on Wednesday, April 24th. Seaport Res Ptn analyst A. Storozynski now forecasts that the utilities provider will post earnings of $4.90 per share for the year, down from their previous forecast of $5.00. The consensus estimate for Edison International's current full-year earnings is $4.94 per share. Seaport Res Ptn also issued estimates for Edison International's FY2025 earnings at $5.70 EPS and FY2026 earnings at $5.99 EPS.
EIX has been the topic of several other reports. TheStreet cut Edison International from a "b" rating to a "c+" rating in a research note on Thursday, February 22nd. Barclays raised their price objective on shares of Edison International from $69.00 to $70.00 and gave the company an "equal weight" rating in a research report on Monday, February 26th. StockNews.com upgraded shares of Edison International from a "sell" rating to a "hold" rating in a research report on Saturday, February 24th. Guggenheim raised Edison International from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $66.00 to $84.00 in a research note on Monday, January 22nd. Finally, The Goldman Sachs Group initiated coverage on Edison International in a research note on Wednesday, April 10th. They issued a "neutral" rating and a $78.00 target price on the stock. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Edison International presently has a consensus rating of "Hold" and an average price target of $73.60.
Check Out Our Latest Analysis on EIX
Edison International Trading Down 1.4 %
Edison International stock traded down $0.97 during mid-day trading on Friday, hitting $70.16. The company's stock had a trading volume of 2,624,967 shares, compared to its average volume of 2,184,634. The firm has a market capitalization of $26.99 billion, a PE ratio of 22.49 and a beta of 0.96. Edison International has a 1 year low of $58.82 and a 1 year high of $74.92. The company has a current ratio of 0.79, a quick ratio of 0.73 and a debt-to-equity ratio of 1.86. The stock's fifty day moving average is $68.91 and its two-hundred day moving average is $67.65.
Edison International (NYSE:EIX - Get Free Report) last posted its quarterly earnings data on Thursday, February 22nd. The utilities provider reported $1.28 EPS for the quarter, topping the consensus estimate of $1.16 by $0.12. Edison International had a return on equity of 12.63% and a net margin of 8.35%. The company had revenue of $3.71 billion during the quarter, compared to analyst estimates of $4.19 billion. During the same period in the previous year, the business earned $1.14 EPS.
Hedge Funds Weigh In On Edison International
A number of large investors have recently bought and sold shares of the business. Capital Research Global Investors increased its stake in shares of Edison International by 23.0% in the fourth quarter. Capital Research Global Investors now owns 19,999,563 shares of the utilities provider's stock valued at $1,429,769,000 after purchasing an additional 3,734,550 shares during the period. Deutsche Bank AG increased its stake in shares of Edison International by 266.3% in the third quarter. Deutsche Bank AG now owns 4,309,133 shares of the utilities provider's stock valued at $272,725,000 after purchasing an additional 3,132,877 shares during the period. Norges Bank acquired a new stake in shares of Edison International in the fourth quarter valued at approximately $210,327,000. Morningstar Investment Services LLC increased its stake 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 purchasing an additional 667,273 shares during the period. Finally, California Public Employees Retirement System increased its stake in shares of Edison International by 62.1% in the fourth quarter. California Public Employees Retirement System now owns 1,514,003 shares of the utilities provider's stock valued at $108,236,000 after purchasing an additional 580,117 shares during the period. Institutional investors own 88.95% of the company's stock.
Edison International Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th will be issued a $0.78 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $3.12 dividend on an annualized basis and a yield of 4.45%. Edison International's dividend payout ratio is currently 100.00%.
Edison International Company Profile
(
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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.
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