Zacks: Analysts Anticipate Edison International (NYSE:EIX) to Post $1.16 EPS

Brokerages expect Edison International (NYSE:EIX) to announce earnings per share (EPS) of $1.16 for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Edison International’s earnings, with the lowest EPS estimate coming in at $0.93 and the highest estimate coming in at $1.43. Edison International reported earnings per share of $1.58 in the same quarter last year, which suggests a negative year over year growth rate of 26.6%. The business is expected to announce its next earnings report after the market closes on Tuesday, July 28th.

On average, analysts expect that Edison International will report full-year earnings of $4.44 per share for the current fiscal year, with EPS estimates ranging from $4.44 to $4.45. For the next fiscal year, analysts expect that the firm will post earnings of $4.51 per share, with EPS estimates ranging from $4.42 to $4.63. Zacks’ EPS calculations are an average based on a survey of sell-side research firms that cover Edison International.

Edison International (NYSE:EIX) last announced its quarterly earnings data on Thursday, April 30th. The utilities provider reported $0.63 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.77 by ($0.14). Edison International had a net margin of 10.15% and a return on equity of 11.33%. The business had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $3.20 billion. During the same period in the prior year, the firm posted $0.63 EPS. Edison International’s revenue for the quarter was down 1.2% compared to the same quarter last year.

Several equities research analysts have recently commented on the company. Barclays decreased their price target on Edison International from $68.00 to $52.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 26th. Wells Fargo & Co decreased their price target on Edison International from $75.00 to $65.00 and set an “equal weight” rating on the stock in a research note on Friday, May 1st. Seaport Global Securities assumed coverage on Edison International in a research note on Monday, June 15th. They set a “buy” rating and a $70.00 price target on the stock. Royal Bank of Canada reissued a “buy” rating and set a $68.00 price target on shares of Edison International in a research note on Thursday, April 30th. Finally, ValuEngine lowered Edison International from a “hold” rating to a “sell” rating in a research note on Thursday, April 30th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $70.80.

Shares of NYSE:EIX traded up $0.84 during trading on Tuesday, hitting $55.54. 1,758,120 shares of the stock were exchanged, compared to its average volume of 4,131,364. The company has a fifty day moving average price of $57.50 and a two-hundred day moving average price of $64.51. The company has a market cap of $20.19 billion, a PE ratio of 16.10, a P/E/G ratio of 3.82 and a beta of 0.48. The company has a current ratio of 0.79, a quick ratio of 0.73 and a debt-to-equity ratio of 1.23. Edison International has a 12-month low of $43.63 and a 12-month high of $78.93.

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Monday, July 6th will be issued a $0.6375 dividend. The ex-dividend date is Thursday, July 2nd. This represents a $2.55 annualized dividend and a yield of 4.59%. Edison International’s dividend payout ratio (DPR) is presently 54.26%.

A number of institutional investors and hedge funds have recently modified their holdings of EIX. WASHINGTON TRUST Co acquired a new position in Edison International in the 1st quarter valued at $32,000. Ellevest Inc. raised its holdings in Edison International by 1,415.0% in the 1st quarter. Ellevest Inc. now owns 606 shares of the utilities provider’s stock valued at $33,000 after acquiring an additional 566 shares during the last quarter. FDx Advisors Inc. raised its holdings in Edison International by 250.7% in the 1st quarter. FDx Advisors Inc. now owns 13,514 shares of the utilities provider’s stock valued at $35,000 after acquiring an additional 9,661 shares during the last quarter. Orion Portfolio Solutions LLC acquired a new position in Edison International in the 4th quarter valued at $39,000. Finally, Front Row Advisors LLC increased its holdings in shares of Edison International by 552.8% during the 1st quarter. Front Row Advisors LLC now owns 692 shares of the utilities provider’s stock worth $41,000 after buying an additional 586 shares during the last quarter. Institutional investors own 87.40% of the company’s stock.

Edison International Company Profile

Edison International, through its subsidiaries, engages in the generation, transmission, and distribution of electricity in the United States. It generates electricity through hydroelectric, diesel/liquid petroleum gas, natural gas, nuclear, and photovoltaic sources. The company supplies electricity primarily to residential, commercial, industrial, agricultural, and other customers, as well as public authorities through transmission and distribution networks.

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Earnings History and Estimates for Edison International (NYSE:EIX)

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