What is Seaport Res Ptn’s Estimate for EIX FY2024 Earnings?

Edison International (NYSE:EIX) – Research analysts at Seaport Res Ptn decreased their FY2024 earnings per share estimates for Edison International in a research report issued on Thursday, October 31st. Seaport Res Ptn analyst A. Storozynski now anticipates that the utilities provider will earn $4.89 per share for the year, down from their prior 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.

Edison International (NYSE:EIX) last issued 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. The company had revenue of $5.20 billion for the quarter, compared to the consensus estimate 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 was up 10.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.38 EPS.

A number of other equities research analysts also recently commented on EIX. Argus increased their price objective on shares of Edison International from $82.00 to $97.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. Morgan Stanley raised their price target on Edison International from $68.00 to $72.00 and gave the company an “underweight” rating in a research note on Wednesday, September 25th. Barclays upped their price objective on Edison International from $89.00 to $91.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Evercore ISI raised their target price on Edison International from $82.00 to $88.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 14th. Finally, Guggenheim upped their price target on Edison International from $80.00 to $83.00 and gave the company a “buy” rating in a report on Friday, July 26th. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Edison International has an average rating of “Moderate Buy” and an average price target of $88.36.

Edison International Stock Down 1.5 %

EIX stock opened at $81.13 on Friday. The company’s 50 day moving average price is $85.39 and its 200 day moving average price is $78.73. The firm has a market capitalization of $31.41 billion, a price-to-earnings ratio of 23.79, a PEG ratio of 1.94 and a beta of 0.91. Edison International has a fifty-two week low of $62.21 and a fifty-two week high of $88.77. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.96 and a current ratio of 0.88.

Edison International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, October 7th were paid a $0.78 dividend. The ex-dividend date was Monday, October 7th. This represents a $3.12 dividend on an annualized basis and a yield of 3.85%. Edison International’s dividend payout ratio is presently 91.50%.

Insider Activity

In related news, CEO J Andrew Murphy sold 1,362 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $85.00, for a total transaction of $115,770.00. Following the transaction, the chief executive officer now owns 19,850 shares of the company’s stock, valued at $1,687,250. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 1.03% of the company’s stock.

Institutional Investors Weigh In On Edison International

Several hedge funds have recently modified their holdings of EIX. Wealth Enhancement Advisory Services LLC lifted its position in Edison International by 12.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 22,508 shares of the utilities provider’s stock valued at $1,592,000 after purchasing an additional 2,431 shares during the period. Norden Group LLC acquired a new stake in shares of Edison International in the 1st quarter valued at approximately $369,000. First Trust Direct Indexing L.P. boosted its stake in shares of Edison International by 15.1% in the first quarter. First Trust Direct Indexing L.P. now owns 8,248 shares of the utilities provider’s stock valued at $583,000 after buying an additional 1,084 shares in the last quarter. Van ECK Associates Corp grew its holdings in Edison International by 42.3% during the first quarter. Van ECK Associates Corp now owns 121,939 shares of the utilities provider’s stock worth $8,625,000 after acquiring an additional 36,227 shares during the period. Finally, Mission Wealth Management LP raised its position in Edison International by 10.0% in the first quarter. Mission Wealth Management LP now owns 9,345 shares of the utilities provider’s stock worth $661,000 after acquiring an additional 853 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.