KeyCorp Raises Earnings Estimates for Edison International

Edison International (NYSE:EIX) – KeyCorp raised their FY2024 earnings estimates for shares of Edison International in a report issued on Tuesday, December 3rd. KeyCorp analyst S. Karp now anticipates that the utilities provider will earn $4.95 per share for the year, up from their prior forecast of $4.89. The consensus estimate for Edison International’s current full-year earnings is $4.95 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 issued its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates of $1.38 by $0.13. Edison International had a net margin of 8.52% and a return on equity of 13.17%. The business had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.01 billion. During the same quarter last year, the business posted $1.38 earnings per share. Edison International’s revenue for the quarter was up 10.6% compared to the same quarter last year.

Several other brokerages have also issued reports on EIX. UBS Group boosted their price objective on Edison International from $86.00 to $89.00 and gave the company a “neutral” rating in a research report on Wednesday, September 4th. Morgan Stanley lowered their target price on Edison International from $74.00 to $72.00 and set an “underweight” rating for the company in a report on Friday, November 22nd. Barclays boosted their price target on Edison International from $89.00 to $91.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Bank of America started coverage on Edison International in a report on Thursday, September 12th. They set a “buy” rating and a $95.00 price objective for the company. Finally, Argus lifted their price target on shares of Edison International from $82.00 to $97.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Edison International presently has a consensus rating of “Moderate Buy” and a consensus target price of $88.75.

Edison International Price Performance

Shares of EIX opened at $83.95 on Friday. The stock’s 50-day moving average price is $84.75 and its two-hundred day moving average price is $80.90. Edison International has a 1 year low of $63.15 and a 1 year high of $88.77. The stock has a market cap of $32.50 billion, a P/E ratio of 24.62, a price-to-earnings-growth ratio of 2.02 and a beta of 0.92. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Lake Street Advisors Group LLC grew its stake in Edison International by 4.3% during the third quarter. Lake Street Advisors Group LLC now owns 3,015 shares of the utilities provider’s stock worth $263,000 after purchasing an additional 124 shares during the period. Baker Tilly Wealth Management LLC boosted its holdings in shares of Edison International by 2.8% during the 3rd quarter. Baker Tilly Wealth Management LLC now owns 4,779 shares of the utilities provider’s stock worth $416,000 after buying an additional 129 shares in the last quarter. SFE Investment Counsel grew its position in shares of Edison International by 0.3% during the 3rd quarter. SFE Investment Counsel now owns 42,730 shares of the utilities provider’s stock worth $3,721,000 after buying an additional 130 shares during the period. Equitable Trust Co. increased its stake in shares of Edison International by 0.9% in the 2nd quarter. Equitable Trust Co. now owns 15,424 shares of the utilities provider’s stock valued at $1,108,000 after acquiring an additional 132 shares in the last quarter. Finally, TIAA Trust National Association increased its stake in shares of Edison International by 2.0% in the 2nd quarter. TIAA Trust National Association now owns 6,723 shares of the utilities provider’s stock valued at $483,000 after acquiring an additional 134 shares in the last quarter. 88.95% of the stock is owned by institutional investors.

Insider Transactions at Edison International

In other Edison International news, VP Adam S. Umanoff sold 25,619 shares of the company’s stock in a transaction 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 sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.03% of the stock is currently owned by insiders.

Edison International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, October 7th were issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 3.72%. The ex-dividend date was Monday, October 7th. Edison International’s dividend payout ratio (DPR) is currently 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.