FY2026 EPS Estimates for Edison International (NYSE:EIX) Decreased by Analyst

Posted by Defense World Staff on Jun 26th, 2023

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Edison International (NYSE:EIX – Get Rating) – Equities research analysts at Seaport Res Ptn dropped their FY2026 EPS estimates for shares of Edison International in a report issued on Friday, June 23rd. Seaport Res Ptn analyst A. Storozynski now forecasts that the utilities provider will post earnings per share of $6.25 for the year, down from their prior forecast of $6.81. The consensus estimate for Edison International’s current full-year earnings is $4.72 per share.

Several other equities analysts have also weighed in on EIX. Morgan Stanley increased their price objective on shares of Edison International from $50.00 to $57.00 and gave the company an “underweight” rating in a research report on Thursday, April 20th. Guggenheim boosted their price objective on Edison International from $75.00 to $81.00 in a report on Wednesday, May 3rd. Wells Fargo & Company increased their target price on Edison International from $73.00 to $77.00 and gave the stock an “equal weight” rating in a research note on Monday, April 10th. LADENBURG THALM/SH SH boosted their price target on Edison International from $66.00 to $67.00 in a research note on Wednesday, May 17th. Finally, StockNews.com began coverage on Edison International in a report on Thursday, May 18th. They set a “hold” rating for the company. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $73.08.

Edison International Stock Down 1.9 %

EIX opened at $67.76 on Monday. The stock’s fifty day simple moving average is $70.09 and its 200 day simple moving average is $68.51. Edison International has a 1-year low of $54.45 and a 1-year high of $74.92. The stock has a market cap of $25.95 billion, a PE ratio of 30.94, a price-to-earnings-growth ratio of 3.75 and a beta of 0.81. The company has a current ratio of 0.86, a quick ratio of 0.80 and a debt-to-equity ratio of 1.89.

Edison International (NYSE:EIX – Get Rating) last posted its quarterly earnings results on Tuesday, May 2nd. The utilities provider reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.05. Edison International had a return on equity of 12.48% and a net margin of 6.12%. The business had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $4 billion. During the same quarter last year, the company posted $1.07 earnings per share. Edison International’s quarterly revenue was down .1% 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 the stock. Argent Advisors Inc. boosted its stake in shares of Edison International by 1.0% during the first quarter. Argent Advisors Inc. now owns 14,757 shares of the utilities provider’s stock valued at $1,042,000 after purchasing an additional 146 shares in the last quarter. Cohen Capital Management Inc. raised its holdings in Edison International by 0.5% in the 1st quarter. Cohen Capital Management Inc. now owns 35,583 shares of the utilities provider’s stock valued at $2,512,000 after buying an additional 161 shares during the last quarter. Securian Asset Management Inc. boosted its position in Edison International by 0.5% during the 4th quarter. Securian Asset Management Inc. now owns 31,240 shares of the utilities provider’s stock worth $1,987,000 after buying an additional 169 shares during the period. Capital Analysts LLC grew its holdings in Edison International by 64.0% during the 1st quarter. Capital Analysts LLC now owns 438 shares of the utilities provider’s stock worth $31,000 after acquiring an additional 171 shares during the last quarter. Finally, Pinnacle Associates Ltd. increased its position in Edison International by 5.2% in the 1st quarter. Pinnacle Associates Ltd. now owns 3,554 shares of the utilities provider’s stock valued at $251,000 after acquiring an additional 176 shares during the period. 88.83% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, SVP J Andrew Murphy sold 22,471 shares of the business’s stock in a transaction on Wednesday, April 5th. The stock was sold at an average price of $72.03, for a total transaction of $1,618,586.13. Following the completion of the transaction, the senior vice president now owns 12,989 shares of the company’s stock, valued at approximately $935,597.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.03% of the company’s stock.

Edison International Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 31st. Shareholders of record on Wednesday, July 5th will be given a dividend of $0.738 per share. This is an increase from Edison International’s previous quarterly dividend of $0.74. This represents a $2.95 annualized dividend and a yield of 4.36%. The ex-dividend date is Monday, July 3rd. Edison International’s payout ratio is currently 134.70%.

About Edison International

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Edison International is a renewable energy company, which through its subsidiaries, generates and distributes electric power, and invests in energy services and technologies. The company was founded on July 4, 1886, and is headquartered in Rosemead, CA.