KeyCorp Has Bullish Forecast for EIX FY2024 Earnings

Edison International (NYSE:EIX - Free Report) - Research analysts at KeyCorp upped their FY2024 EPS estimates for Edison International in a research note issued to investors on Tuesday, December 3rd. KeyCorp analyst S. Karp now anticipates that the utilities provider will post earnings of $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 $4.94 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 - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share for the quarter, topping analysts' consensus estimates of $1.38 by $0.13. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The company had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.01 billion. During the same period last year, the business earned $1.38 EPS. The business's quarterly revenue was up 10.6% on a year-over-year basis.

EIX has been the topic of a number of other reports. Morgan Stanley reduced their price target on shares of Edison International from $74.00 to $72.00 and set an "underweight" rating on the stock in a research report on Friday, November 22nd. Evercore ISI boosted their price target 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. UBS Group lifted their target price on Edison International from $86.00 to $89.00 and gave the stock a "neutral" rating in a research note on Wednesday, September 4th. Argus lifted their price objective on shares of Edison International from $82.00 to $97.00 and gave the stock a "buy" rating in a research note on Wednesday, September 11th. Finally, Jefferies Financial Group began coverage on Edison International in a research report on Thursday, November 7th. They issued a "buy" rating and a $93.00 target price for the company. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat, Edison International presently has a consensus rating of "Moderate Buy" and an average price target of $88.75.

Edison International Stock Performance

Shares of NYSE EIX traded down $0.97 during trading hours on Friday, reaching $83.95. The stock had a trading volume of 2,040,992 shares, compared to its average volume of 2,036,141. The company has a market cap of $32.50 billion, a price-to-earnings ratio of 24.48, a PEG ratio of 2.03 and a beta of 0.92. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81. The business's fifty day moving average is $84.81 and its two-hundred day moving average is $80.81. Edison International has a twelve month low of $63.15 and a twelve month high of $88.77.

Edison International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, October 7th were issued a dividend of $0.78 per share. The ex-dividend date was Monday, October 7th. This represents a $3.12 dividend on an annualized basis and a yield of 3.72%. Edison International's dividend payout ratio (DPR) is 91.50%.

Insiders Place Their Bets

In other news, VP Adam S. Umanoff sold 25,619 shares of the stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $83.05, for a total value of $2,127,657.95. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.03% of the stock is owned by corporate insiders.

Institutional Trading of Edison International

A number of large investors have recently modified their holdings of EIX. Tidal Investments LLC grew its position in Edison International by 2.6% in the third quarter. Tidal Investments LLC now owns 18,719 shares of the utilities provider's stock worth $1,630,000 after acquiring an additional 476 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of Edison International in the 3rd quarter worth about $188,000. World Investment Advisors LLC purchased a new position in shares of Edison International in the 3rd quarter worth about $221,000. Sanctuary Advisors LLC increased its position in shares of Edison International by 11.9% during the 3rd quarter. Sanctuary Advisors LLC now owns 31,940 shares of the utilities provider's stock valued at $2,762,000 after purchasing an additional 3,389 shares during the last quarter. Finally, Virtu Financial LLC purchased a new position in shares of Edison International during the 3rd quarter valued at about $1,791,000. Institutional investors own 88.95% of the company's stock.

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.