What is Seaport Res Ptn’s Forecast for EIX FY2024 Earnings?

Edison International (NYSE:EIX) – Investment analysts at Seaport Res Ptn dropped their FY2024 EPS estimates for Edison International in a report released on Thursday, October 31st. Seaport Res Ptn analyst A. Storozynski now expects that the utilities provider will earn $4.89 per share for the year, down from their prior estimate of $4.90. The consensus estimate for Edison International’s current full-year earnings is $4.94 per share. Seaport Res Ptn also issued estimates for Edison International’s FY2025 earnings at $6.02 EPS, FY2026 earnings at $6.34 EPS and FY2027 earnings at $6.40 EPS.

Edison International (NYSE:EIX) last issued its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.12. The firm had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.01 billion. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The business’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.38 earnings per share.

A number of other research analysts have also weighed in on the company. Royal Bank of Canada raised their price objective on Edison International from $94.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. Guggenheim raised their price objective on Edison International from $80.00 to $83.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Argus lifted their price target on Edison International from $82.00 to $97.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. Barclays lifted their price target on Edison International from $89.00 to $91.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Finally, UBS Group lifted their price target on Edison International from $86.00 to $89.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 4th. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $88.36.

Edison International Trading Down 1.0 %

Shares of Edison International stock opened at $82.42 on Friday. The firm has a market cap of $31.91 billion, a price-to-earnings ratio of 24.17, a PEG ratio of 1.94 and a beta of 0.91. The business has a 50-day moving average price of $85.47 and a 200-day moving average price of $78.64. The company has a quick ratio of 0.96, a current ratio of 0.88 and a debt-to-equity ratio of 1.96. Edison International has a twelve month low of $62.21 and a twelve month high of $88.77.

Hedge Funds Weigh In On Edison International

Several institutional investors and hedge funds have recently bought and sold shares of the company. Summit Global Investments purchased a new position in Edison International in the third quarter worth $226,000. Consolidated Planning Corp boosted its holdings in Edison International by 48.3% in the third quarter. Consolidated Planning Corp now owns 5,358 shares of the utilities provider’s stock valued at $467,000 after purchasing an additional 1,744 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Edison International by 6.4% in the third quarter. Principal Financial Group Inc. now owns 459,194 shares of the utilities provider’s stock worth $39,991,000 after acquiring an additional 27,667 shares during the period. Cozad Asset Management Inc. acquired a new position in shares of Edison International in the third quarter worth about $220,000. Finally, Centennial Wealth Advisory LLC raised its position in shares of Edison International by 3.3% in the third quarter. Centennial Wealth Advisory LLC now owns 5,378 shares of the utilities provider’s stock worth $468,000 after acquiring an additional 172 shares during the period. 88.95% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO J Andrew Murphy sold 23,896 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $85.45, for a total value of $2,041,913.20. Following the completion of the transaction, the chief executive officer now owns 19,850 shares of the company’s stock, valued at $1,696,182.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.03% of the stock is currently owned by insiders.

Edison International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, October 7th were paid a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 3.79%. The ex-dividend date was Monday, October 7th. Edison International’s dividend payout ratio (DPR) is 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.