Seaport Res Ptn Issues Pessimistic Estimate for EIX Earnings

Edison International (NYSE:EIX) – Stock analysts at Seaport Res Ptn dropped their FY2024 EPS estimates for Edison International in a note issued to investors on Thursday, October 31st. Seaport Res Ptn analyst A. Storozynski now forecasts that the utilities provider will post earnings per share of $4.89 for the year, down from their previous estimate of $4.90. 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 $6.02 EPS, FY2026 earnings at $6.34 EPS and FY2027 earnings at $6.40 EPS.

Several other equities research analysts have also commented on the stock. Argus boosted their price target on shares of Edison International from $82.00 to $97.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. Royal Bank of Canada upped their price target on shares of Edison International from $94.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Bank of America started coverage on Edison International in a report on Thursday, September 12th. They issued a “buy” rating and a $95.00 price objective on the stock. Barclays boosted their price objective on Edison International from $89.00 to $91.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Finally, Wells Fargo & Company lifted their price target on Edison International from $87.00 to $94.00 and gave the stock an “overweight” rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Edison International currently has a consensus rating of “Moderate Buy” and an average target price of $88.36.

Edison International Stock Down 1.5 %

Edison International stock opened at $81.13 on Friday. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.96. The stock has a market capitalization of $31.41 billion, a PE ratio of 23.79, a price-to-earnings-growth ratio of 1.94 and a beta of 0.91. The business has a 50 day simple moving average of $85.39 and a 200-day simple moving average of $78.73. Edison International has a 12 month low of $62.21 and a 12 month high of $88.77.

Edison International (NYSE:EIX) last announced its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.38 by $0.13. The firm 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%. Edison International’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.38 EPS.

Edison International Dividend Announcement

The company also recently disclosed 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. This represents a $3.12 annualized dividend and a yield of 3.85%. The ex-dividend date was Monday, October 7th. Edison International’s payout ratio is currently 91.50%.

Insiders Place Their Bets

In other news, CEO J Andrew Murphy sold 1,362 shares of Edison International stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $85.00, for a total transaction of $115,770.00. Following the sale, the chief executive officer now owns 19,850 shares of the company’s stock, valued at approximately $1,687,250. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.03% of the stock is owned by insiders.

Institutional Trading of Edison International

A number of hedge funds and other institutional investors have recently modified their holdings of EIX. CreativeOne Wealth LLC purchased a new position in Edison International during the first quarter worth about $230,000. Swedbank AB increased its holdings in Edison International by 76.3% in the 2nd quarter. Swedbank AB now owns 446,637 shares of the utilities provider’s stock valued at $32,073,000 after purchasing an additional 193,307 shares during the last quarter. Intech Investment Management LLC increased its holdings in Edison International by 44.9% in the 1st quarter. Intech Investment Management LLC now owns 46,263 shares of the utilities provider’s stock valued at $3,272,000 after purchasing an additional 14,346 shares during the last quarter. Sei Investments Co. raised its position in Edison International by 14.5% in the first quarter. Sei Investments Co. now owns 321,567 shares of the utilities provider’s stock valued at $22,744,000 after purchasing an additional 40,646 shares during the period. Finally, Janus Henderson Group PLC lifted its stake in Edison International by 150.6% during the first quarter. Janus Henderson Group PLC now owns 169,742 shares of the utilities provider’s stock worth $12,004,000 after purchasing an additional 102,000 shares in the last quarter. 88.95% of the stock is owned by institutional investors and hedge funds.

Edison International Company Profile

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.