Edison International (NYSE:EIX) Expected to Post Quarterly Sales of $3.08 Billion


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Wall Street analysts predict that Edison International (NYSE:EIX) will post sales of $3.08 billion for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Edison International’s earnings, with the lowest sales estimate coming in at $3.03 billion and the highest estimate coming in at $3.12 billion. Edison International reported sales of $2.97 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 3.7%. The firm is scheduled to report its next earnings results after the market closes on Thursday, February 25th.

According to Zacks, analysts expect that Edison International will report full-year sales of $13.47 billion for the current financial year, with estimates ranging from $13.40 billion to $13.54 billion. For the next year, analysts expect that the firm will post sales of $13.82 billion, with estimates ranging from $13.62 billion to $14.05 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Edison International.

Several brokerages have weighed in on EIX. Barclays boosted their price objective on Edison International from $57.00 to $69.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 18th. Wells Fargo & Company upgraded Edison International from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $65.00 to $71.00 in a research report on Wednesday, January 6th. Morgan Stanley lowered their price objective on Edison International from $69.00 to $66.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 20th. Finally, KeyCorp boosted their price objective on Edison International from $68.00 to $70.00 and gave the company an “overweight” rating in a research report on Tuesday, January 12th. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $68.93.

EIX stock traded up $0.57 during midday trading on Tuesday, hitting $55.92. The company had a trading volume of 2,760,006 shares, compared to its average volume of 1,912,755. The company has a current ratio of 0.68, a quick ratio of 0.63 and a debt-to-equity ratio of 1.21. Edison International has a 52 week low of $43.63 and a 52 week high of $77.81. The stock’s 50 day moving average price is $59.36 and its 200 day moving average price is $57.80. The stock has a market cap of $21.17 billion, a price-to-earnings ratio of 56.36, a PEG ratio of 4.59 and a beta of 0.52.

The company also recently declared a quarterly dividend, which was paid on Sunday, January 31st. Investors of record on Thursday, December 31st were paid a $0.6625 dividend. This represents a $2.65 annualized dividend and a yield of 4.74%. This is a boost from Edison International’s previous quarterly dividend of $0.64. The ex-dividend date of this dividend was Wednesday, December 30th. Edison International’s dividend payout ratio is presently 56.38%.

A number of hedge funds have recently modified their holdings of the stock. National Pension Service grew its stake in Edison International by 8.2% in the fourth quarter. National Pension Service now owns 555,456 shares of the utilities provider’s stock worth $34,894,000 after purchasing an additional 42,007 shares during the period. Verition Fund Management LLC purchased a new stake in Edison International in the fourth quarter worth $31,423,000. Safeguard Investment Advisory Group LLC purchased a new stake in Edison International in the fourth quarter worth $30,000. Truist Financial Corp grew its stake in Edison International by 161.9% in the fourth quarter. Truist Financial Corp now owns 59,115 shares of the utilities provider’s stock worth $3,713,000 after purchasing an additional 36,540 shares during the period. Finally, Hoese & Co LLP purchased a new stake in Edison International in the fourth quarter worth $63,000. 87.58% of the stock is currently owned by institutional investors.

Edison International Company Profile

Edison International, through its subsidiaries, engages in the generation, transmission, and distribution of electricity in the United States. The company generates electricity through hydroelectric, diesel/liquid petroleum gas, natural gas, nuclear, and photovoltaic sources. It 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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