Q3 2024 Earnings Forecast for Edison International (NYSE:EIX) Issued By Zacks Research

Edison International (NYSE:EIX) – Research analysts at Zacks Research reduced their Q3 2024 EPS estimates for Edison International in a research note issued to investors on Wednesday, August 14th. Zacks Research analyst A. Dutta now expects that the utilities provider will post earnings of $1.44 per share for the quarter, down from their prior estimate of $1.47. The consensus estimate for Edison International’s current full-year earnings is $4.92 per share. Zacks Research also issued estimates for Edison International’s Q2 2025 earnings at $1.18 EPS and Q4 2025 earnings at $1.14 EPS.

A number of other equities analysts have also issued reports on EIX. Argus boosted their target price on shares of Edison International from $78.00 to $82.00 and gave the stock a “buy” rating in a research report on Wednesday, June 12th. Morgan Stanley dropped their target price on shares of Edison International from $64.00 to $61.00 and set an “underweight” rating on the stock in a research report on Monday, June 24th. Guggenheim boosted their target price on shares of Edison International from $80.00 to $83.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Mizuho boosted their target price on shares of Edison International from $75.00 to $85.00 and gave the stock a “buy” rating in a research report on Friday, May 17th. Finally, Evercore ISI boosted their target price on shares of Edison International from $82.00 to $88.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 14th. One analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Edison International has an average rating of “Hold” and an average target price of $80.09.

Edison International Price Performance

Shares of Edison International stock opened at $83.71 on Monday. The firm has a fifty day simple moving average of $76.14 and a 200-day simple moving average of $72.46. The company has a current ratio of 1.03, a quick ratio of 0.96 and a debt-to-equity ratio of 2.04. Edison International has a 1-year low of $58.82 and a 1-year high of $84.13. The stock has a market capitalization of $32.21 billion, a price-to-earnings ratio of 36.71 and a beta of 0.91.

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

Institutional Investors Weigh In On Edison International

Several institutional investors and hedge funds have recently made changes to their positions in the company. Capital Research Global Investors lifted its position in Edison International by 1.7% during the 1st quarter. Capital Research Global Investors now owns 20,344,752 shares of the utilities provider’s stock worth $1,438,984,000 after buying an additional 345,189 shares in the last quarter. Pzena Investment Management LLC lifted its position in Edison International by 2.3% during the 1st quarter. Pzena Investment Management LLC now owns 13,605,080 shares of the utilities provider’s stock worth $962,287,000 after buying an additional 305,459 shares in the last quarter. Capital International Investors lifted its position in Edison International by 6.4% during the 1st quarter. Capital International Investors now owns 13,297,917 shares of the utilities provider’s stock worth $940,562,000 after buying an additional 795,950 shares in the last quarter. Wellington Management Group LLP lifted its position in Edison International by 4.4% during the 4th quarter. Wellington Management Group LLP now owns 10,276,016 shares of the utilities provider’s stock worth $734,632,000 after buying an additional 433,845 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in Edison International by 4.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,261,803 shares of the utilities provider’s stock worth $376,166,000 after buying an additional 202,541 shares in the last quarter. Institutional investors and hedge funds own 88.95% of the company’s stock.

Insider Buying and Selling at Edison International

In other news, SVP Caroline Choi sold 10,004 shares of the business’s stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $75.77, for a total value of $758,003.08. Following the sale, the senior vice president now owns 26,918 shares in the company, valued at approximately $2,039,576.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Caroline Choi sold 10,004 shares of the business’s stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $75.77, for a total value of $758,003.08. Following the sale, the senior vice president now owns 26,918 shares in the company, valued at approximately $2,039,576.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO J Andrew Murphy sold 28,995 shares of the business’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $78.43, for a total transaction of $2,274,077.85. Following the completion of the sale, the chief executive officer now owns 19,660 shares in the company, valued at approximately $1,541,933.80. The disclosure for this sale can be found here. Insiders have sold 73,845 shares of company stock valued at $5,823,662 in the last 90 days. 1.03% of the stock is currently owned by company insiders.

Edison International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Monday, July 8th were issued a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 3.73%. The ex-dividend date was Monday, July 8th. Edison International’s dividend payout ratio (DPR) is presently 136.84%.

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.