Zacks Research Analysts Decrease Earnings Estimates for Edison International (NYSE:EIX)

Edison International (NYSE:EIX) – Stock analysts at Zacks Research lowered their Q2 2024 earnings per share (EPS) estimates for shares of Edison International in a research note issued to investors on Tuesday, May 21st. Zacks Research analyst A. Dutta now expects that the utilities provider will post earnings per share of $1.04 for the quarter, down from their prior estimate of $1.11. 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 Q3 2024 earnings at $1.46 EPS, Q4 2024 earnings at $1.29 EPS, FY2024 earnings at $4.91 EPS, Q1 2025 earnings at $1.22 EPS, Q2 2025 earnings at $1.21 EPS, FY2025 earnings at $5.24 EPS and Q1 2026 earnings at $1.47 EPS.

Edison International (NYSE:EIX) last posted its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.01. The business had revenue of $4.08 billion for the quarter, compared to analysts’ expectations of $4.16 billion. Edison International had a return on equity of 12.48% and a net margin of 6.14%. The firm’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter last year, the business earned $1.09 earnings per share.

A number of other brokerages have also recently issued reports on EIX. StockNews.com raised shares of Edison International from a “sell” rating to a “hold” rating in a research note on Saturday, February 24th. The Goldman Sachs Group initiated coverage on Edison International in a research note on Wednesday, April 10th. They issued a “neutral” rating and a $78.00 price target on the stock. Royal Bank of Canada decreased their price objective on Edison International from $81.00 to $80.00 and set an “outperform” rating for the company in a research note on Thursday, March 7th. Wells Fargo & Company raised Edison International from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $72.00 to $86.00 in a research note on Tuesday, May 14th. Finally, TheStreet lowered Edison International from a “b” rating to a “c+” rating in a research report on Thursday, February 22nd. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $76.00.

Edison International Stock Up 0.4 %

Shares of NYSE EIX opened at $74.58 on Thursday. Edison International has a 1 year low of $58.82 and a 1 year high of $76.83. The firm’s 50-day moving average is $71.45 and its 200-day moving average is $69.11. The company has a current ratio of 1.00, a quick ratio of 0.93 and a debt-to-equity ratio of 2.04. The firm has a market capitalization of $28.69 billion, a PE ratio of 32.71 and a beta of 0.95.

Institutional Trading of Edison International

Several hedge funds and other institutional investors have recently modified their holdings of EIX. Able Wealth Management LLC bought a new position in shares of Edison International during the fourth quarter worth about $25,000. Bruce G. Allen Investments LLC acquired a new stake in shares of Edison International in the fourth quarter valued at approximately $27,000. Global Trust Asset Management LLC bought a new stake in shares of Edison International in the first quarter worth $28,000. WASHINGTON TRUST Co boosted its holdings in Edison International by 117.4% during the fourth quarter. WASHINGTON TRUST Co now owns 500 shares of the utilities provider’s stock worth $36,000 after purchasing an additional 270 shares during the last quarter. Finally, Northwest Financial Advisors acquired a new position in Edison International during the fourth quarter worth $40,000. Institutional investors and hedge funds own 88.95% of the company’s stock.

Insider Transactions at Edison International

In other Edison International news, CEO J Andrew Murphy sold 9,794 shares of Edison International stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $75.07, for a total value of $735,235.58. Following the transaction, the chief executive officer now owns 19,660 shares of the company’s stock, valued at $1,475,876.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 1.03% of the stock is currently owned by insiders.

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.