KeyCorp Analysts Increase Earnings Estimates for EIX

Edison International (NYSE:EIX) – Research analysts at KeyCorp upped their FY2024 EPS estimates for Edison International in a research report issued on Tuesday, December 3rd. KeyCorp analyst S. Karp now forecasts that the utilities provider will post earnings per share of $4.95 for the year, up from their prior forecast of $4.89. The consensus estimate for Edison International’s current full-year earnings is $4.94 per share. KeyCorp also issued estimates for Edison International’s FY2025 earnings at $5.63 EPS, FY2026 earnings at $5.94 EPS, FY2027 earnings at $6.38 EPS and FY2028 earnings at $6.83 EPS.

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

Other equities research analysts have also recently issued research reports about the company. Bank of America started coverage on Edison International in a research note on Thursday, September 12th. They issued a “buy” rating and a $95.00 price target on the stock. Royal Bank of Canada boosted their target price 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 lowered their price target on shares of Edison International from $74.00 to $72.00 and set an “underweight” rating on the stock in a research report on Friday, November 22nd. Wells Fargo & Company lifted their price objective on shares of Edison International from $87.00 to $94.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Finally, UBS Group increased their target price on shares of Edison International from $86.00 to $89.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 4th. One analyst has rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $88.75.

Edison International Stock Down 1.2 %

Shares of EIX stock opened at $83.94 on Friday. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.81 and a current ratio of 0.88. The firm’s 50-day moving average is $84.81 and its 200-day moving average is $80.81. The stock has a market cap of $32.50 billion, a price-to-earnings ratio of 24.62, a PEG ratio of 2.03 and a beta of 0.92. Edison International has a 52-week low of $63.15 and a 52-week high of $88.77.

Institutional Trading of Edison International

Hedge funds have recently added to or reduced their stakes in the stock. Highline Wealth Partners LLC bought a new position in shares of Edison International in the 3rd quarter valued at $26,000. Groupama Asset Managment raised its position in Edison International by 0.8% in the third quarter. Groupama Asset Managment now owns 29,911 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 237 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Edison International during the second quarter valued at about $27,000. Eastern Bank bought a new stake in shares of Edison International during the third quarter worth about $27,000. Finally, Country Trust Bank acquired a new stake in Edison International during the 2nd quarter worth approximately $29,000. Institutional investors and hedge funds own 88.95% of the company’s stock.

Insider Activity

In related news, VP Adam S. Umanoff sold 25,619 shares of the company’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $83.05, for a total transaction of $2,127,657.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.03% of the company’s stock.

Edison International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, October 7th were issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.72%. The ex-dividend date of this dividend was Monday, October 7th. Edison International’s dividend payout ratio is presently 91.50%.

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.