What is Zacks Research's Estimate for EIX FY2024 Earnings?

Edison International (NYSE:EIX - Free Report) - Investment analysts at Zacks Research dropped their FY2024 earnings estimates for Edison International in a report released on Monday, December 9th. Zacks Research analyst A. Dutta now expects that the utilities provider will post earnings per share of $4.94 for the year, down from their previous forecast of $4.99. The consensus estimate for Edison International's current full-year earnings is $4.95 per share. Zacks Research also issued estimates for Edison International's Q4 2025 earnings at $1.35 EPS, FY2025 earnings at $5.60 EPS and FY2026 earnings at $5.89 EPS.

Several other equities analysts have also recently weighed in on the company. UBS Group lifted their target price on Edison International from $86.00 to $89.00 and gave the company a "neutral" rating in a research note on Wednesday, September 4th. Morgan Stanley lowered their price objective 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 increased 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. Bank of America started coverage on shares of Edison International in a research note on Thursday, September 12th. They set a "buy" rating and a $95.00 target price for the company. Finally, Wells Fargo & Company upped their price target on shares of Edison International from $87.00 to $94.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $88.75.

Edison International Stock Up 0.0 %

Shares of EIX stock traded up $0.04 on Thursday, reaching $81.62. 1,430,027 shares of the company's stock traded hands, compared to its average volume of 2,033,000. The company has a market capitalization of $31.60 billion, a P/E ratio of 23.96, a price-to-earnings-growth ratio of 2.01 and a beta of 0.92. Edison International has a 12-month low of $63.15 and a 12-month high of $88.77. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.81 and a current ratio of 0.88. The business's 50 day moving average price is $84.46 and its two-hundred day moving average price is $81.06.

Edison International (NYSE:EIX - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.51 EPS for the quarter, topping analysts' consensus estimates of $1.38 by $0.13. Edison International had a net margin of 8.52% and a return on equity of 13.17%. The firm had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.01 billion. During the same quarter last year, the business posted $1.38 EPS. The company's revenue was up 10.6% on a year-over-year basis.

Institutional Investors Weigh In On Edison International

Several hedge funds and other institutional investors have recently made changes to their positions in EIX. Sequoia Financial Advisors LLC grew its holdings in Edison International by 4.7% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 7,456 shares of the utilities provider's stock valued at $535,000 after buying an additional 338 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of Edison International by 19.3% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 26,856 shares of the utilities provider's stock worth $1,929,000 after acquiring an additional 4,348 shares during the last quarter. ORG Partners LLC acquired a new stake in shares of Edison International in the second quarter worth $394,000. Swedbank AB increased its position in Edison International by 76.3% during the second quarter. Swedbank AB now owns 446,637 shares of the utilities provider's stock worth $32,073,000 after acquiring an additional 193,307 shares during the period. Finally, Assenagon Asset Management S.A. raised its stake in Edison International by 1,687.6% during the 2nd quarter. Assenagon Asset Management S.A. now owns 211,347 shares of the utilities provider's stock valued at $15,177,000 after purchasing an additional 199,524 shares during the last quarter. 88.95% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Edison International news, VP Adam S. Umanoff sold 25,619 shares of the business's stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $83.05, for a total transaction of $2,127,657.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.03% of the company's stock.

Edison International Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, January 7th will be given a dividend of $0.8275 per share. This represents a $3.31 dividend on an annualized basis and a yield of 4.06%. This is a boost from Edison International's previous quarterly dividend of $0.78. Edison International's dividend payout ratio is presently 91.50%.

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.