KeyCorp Issues Pessimistic Estimate for EIX Earnings

Edison International (NYSE:EIX) – Equities researchers at KeyCorp dropped their Q4 2024 earnings per share estimates for shares of Edison International in a research report issued to clients and investors on Tuesday, December 3rd. KeyCorp analyst S. Karp now anticipates that the utilities provider will post earnings of $1.09 per share for the quarter, down from their prior estimate of $1.11. The consensus estimate for Edison International’s current full-year earnings is $4.94 per share.

EIX has been the topic of a number of other research reports. UBS Group boosted 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. Bank of America began coverage on Edison International in a research note on Thursday, September 12th. They issued a “buy” rating and a $95.00 price objective on the stock. Barclays upped their price objective on Edison International from $89.00 to $91.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Royal Bank of Canada increased their target price on Edison International from $94.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Finally, Argus increased their target price on Edison International from $82.00 to $97.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $88.75.

Edison International Price Performance

Shares of NYSE EIX opened at $84.33 on Thursday. Edison International has a twelve month low of $63.15 and a twelve month high of $88.77. The stock’s 50 day moving average price is $84.84 and its 200-day moving average price is $80.78. The company has a market capitalization of $32.65 billion, a PE ratio of 24.73, a PEG ratio of 2.03 and a beta of 0.92. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96.

Edison International (NYSE:EIX) last issued 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 return on equity of 13.17% and a net margin of 8.52%. The firm had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.01 billion. During the same period in the previous year, the company posted $1.38 EPS. The company’s revenue for the quarter was up 10.6% on a year-over-year basis.

Edison International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, October 7th were paid a $0.78 dividend. The ex-dividend date of this dividend was Monday, October 7th. This represents a $3.12 dividend on an annualized basis and a yield of 3.70%. Edison International’s dividend payout ratio is presently 91.50%.

Insider Activity

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 transaction of $2,127,657.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.03% of the company’s stock.

Institutional Trading of Edison International

A number of institutional investors have recently modified their holdings of the company. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Edison International during the third quarter valued at approximately $1,387,000. Swedbank AB increased its holdings in shares of Edison International by 76.3% in the 2nd quarter. Swedbank AB now owns 446,637 shares of the utilities provider’s stock worth $32,073,000 after buying an additional 193,307 shares during the last quarter. Baker Avenue Asset Management LP bought a new position in Edison International during the 3rd quarter valued at about $2,291,000. Bank of Montreal Can boosted its holdings in shares of Edison International by 5.3% in the second quarter. Bank of Montreal Can now owns 695,620 shares of the utilities provider’s stock valued at $50,022,000 after purchasing an additional 34,701 shares during the period. Finally, TIAA Trust National Association lifted its holdings in Edison International by 2.0% during the second quarter. TIAA Trust National Association now owns 6,723 shares of the utilities provider’s stock worth $483,000 after buying an additional 134 shares during the period. 88.95% of the stock is currently owned by hedge funds and other institutional investors.

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.