Edison International (NYSE:EIX) Forecasted to Earn FY2024 Earnings of $4.96 Per Share

Edison International (NYSE:EIX) – Investment analysts at Zacks Research dropped their FY2024 earnings per share estimates for Edison International in a research note issued to investors on Monday, September 2nd. Zacks Research analyst A. Dutta now anticipates that the utilities provider will earn $4.96 per share for the year, down from their previous forecast of $5.03. 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 Q2 2025 earnings at $1.20 EPS.

A number of other analysts have also weighed in on the company. UBS Group increased their price objective on Edison International from $86.00 to $89.00 and gave the company a “neutral” rating in a research note on Wednesday. Mizuho increased their price objective on Edison International from $75.00 to $85.00 and gave the company a “buy” rating in a research note on Friday, May 17th. Guggenheim increased their price objective on Edison International from $80.00 to $83.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Argus increased their price objective on Edison International from $78.00 to $82.00 and gave the company a “buy” rating in a research note on Wednesday, June 12th. Finally, Morgan Stanley increased their price objective on Edison International from $62.00 to $68.00 and gave the company an “underweight” rating in a research note on Friday, August 23rd. One analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $82.36.

Edison International Stock Down 0.1 %

Shares of EIX opened at $87.64 on Thursday. The firm has a market cap of $33.84 billion, a P/E ratio of 38.44 and a beta of 0.91. The stock has a 50 day simple moving average of $79.44 and a two-hundred day simple moving average of $74.09. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.03 and a quick ratio of 0.96. Edison International has a 1 year low of $58.82 and a 1 year high of $88.77.

Edison International (NYSE:EIX) last issued its earnings results on Thursday, July 25th. The utilities provider reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.18. The business had revenue of $4.34 billion during the quarter, compared to analyst estimates of $4.12 billion. Edison International had a return on equity of 13.01% and a net margin of 6.60%. Edison International’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.01 earnings per share.

Edison International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Monday, July 8th were issued a dividend of $0.78 per share. The ex-dividend date was Monday, July 8th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.56%. Edison International’s dividend payout ratio is presently 136.84%.

Insider Activity at Edison International

In other Edison International news, CEO J Andrew Murphy sold 28,995 shares of the stock in a transaction on Friday, July 26th. The stock was sold at an average price of $78.43, for a total value of $2,274,077.85. Following the completion of the transaction, the chief executive officer now owns 19,660 shares in the company, valued at $1,541,933.80. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Edison International news, VP Natalie K. Schilling sold 2,341 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $80.00, for a total value of $187,280.00. Following the completion of the transaction, the vice president now owns 6,338 shares in the company, valued at $507,040. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO J Andrew Murphy sold 28,995 shares of the stock in a transaction on Friday, July 26th. The stock was sold at an average price of $78.43, for a total value of $2,274,077.85. Following the completion of the transaction, the chief executive officer now owns 19,660 shares of the company’s stock, valued at approximately $1,541,933.80. The disclosure for this sale can be found here. Insiders sold a total of 89,099 shares of company stock worth $7,223,342 over the last quarter. 1.03% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Edison International

A number of institutional investors have recently added to or reduced their stakes in the company. Benjamin F. Edwards & Company Inc. increased its holdings in shares of Edison International by 258.5% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 11,001 shares of the utilities provider’s stock valued at $786,000 after acquiring an additional 7,932 shares in the last quarter. Axxcess Wealth Management LLC increased its holdings in shares of Edison International by 3.4% during the fourth quarter. Axxcess Wealth Management LLC now owns 6,681 shares of the utilities provider’s stock valued at $478,000 after acquiring an additional 220 shares in the last quarter. Sapient Capital LLC bought a new position in shares of Edison International during the fourth quarter valued at $217,000. Lincoln National Corp increased its holdings in shares of Edison International by 4.7% during the fourth quarter. Lincoln National Corp now owns 14,175 shares of the utilities provider’s stock valued at $1,013,000 after acquiring an additional 636 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Edison International by 1.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,204,214 shares of the utilities provider’s stock valued at $157,579,000 after acquiring an additional 38,738 shares in the last quarter. Institutional investors own 88.95% of the company’s stock.

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.