Q1 2022 EPS Estimates for Edison International Lowered by Analyst (NYSE:EIX)

Edison International (NYSE:EIX – Get Rating) – Stock analysts at KeyCorp lowered their Q1 2022 earnings per share (EPS) estimates for Edison International in a report released on Tuesday, April 19th. KeyCorp analyst S. Karp now expects that the utilities provider will earn $0.70 per share for the quarter, down from their previous estimate of $0.73. KeyCorp also issued estimates for Edison International’s FY2022 earnings at $4.50 EPS, FY2023 earnings at $4.79 EPS and FY2024 earnings at $5.10 EPS.

Edison International (NYSE:EIX – Get Rating) last announced its quarterly earnings results on Thursday, February 24th. The utilities provider reported $1.16 EPS for the quarter, beating the Zacks’ consensus estimate of $1.05 by $0.11. The firm had revenue of $3.33 billion for the quarter, compared to analyst estimates of $3.23 billion. Edison International had a return on equity of 11.73% and a net margin of 5.88%. The business’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period last year, the firm posted $1.19 earnings per share.

A number of other equities analysts have also commented on the company. Morgan Stanley lifted their price objective on Edison International from $58.00 to $66.00 and gave the stock an “equal weight” rating in a research note on Wednesday. StockNews.com initiated coverage on Edison International in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Argus lifted their price objective on Edison International from $68.00 to $73.00 and gave the stock a “buy” rating in a research note on Wednesday, December 29th. Royal Bank of Canada lifted their target price on Edison International from $73.00 to $82.00 and gave the stock an “outperform” rating in a report on Thursday, April 14th. Finally, Wells Fargo & Company lifted their target price on Edison International from $70.00 to $79.00 and gave the stock an “overweight” rating in a report on Wednesday, March 30th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $71.57.

Edison International stock opened at $71.62 on Thursday. The stock’s 50 day moving average is $66.82 and its 200 day moving average is $64.71. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.64 and a quick ratio of 0.59. The firm has a market cap of $27.27 billion, a P/E ratio of 35.99, a P/E/G ratio of 4.11 and a beta of 0.68. Edison International has a one year low of $54.14 and a one year high of $73.32.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in EIX. Signaturefd LLC increased its holdings in shares of Edison International by 43.7% during the third quarter. Signaturefd LLC now owns 2,121 shares of the utilities provider’s stock valued at $118,000 after acquiring an additional 645 shares in the last quarter. Commonwealth Equity Services LLC boosted its position in shares of Edison International by 14.4% during the third quarter. Commonwealth Equity Services LLC now owns 96,220 shares of the utilities provider’s stock valued at $5,337,000 after buying an additional 12,104 shares during the last quarter. GWM Advisors LLC purchased a new position in shares of Edison International during the third quarter valued at approximately $770,000. Nordea Investment Management AB boosted its position in shares of Edison International by 90.2% during the third quarter. Nordea Investment Management AB now owns 1,450,042 shares of the utilities provider’s stock valued at $81,593,000 after buying an additional 687,520 shares during the last quarter. Finally, Independent Advisor Alliance boosted its position in shares of Edison International by 7.0% during the third quarter. Independent Advisor Alliance now owns 4,628 shares of the utilities provider’s stock valued at $257,000 after buying an additional 303 shares during the last quarter. Hedge funds and other institutional investors own 84.74% of the company’s stock.

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, April 30th. Stockholders of record on Thursday, March 31st will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Wednesday, March 30th. This represents a $2.80 annualized dividend and a dividend yield of 3.91%. Edison International’s dividend payout ratio is 140.70%.

Edison International Company Profile (Get Rating)

Edison International, through its subsidiaries, generates and distributes electric power. It delivers electricity to 15 million residential, commercial, industrial, public authorities, agricultural, and other customers across Southern, Central, and Coastal California. The company also provides energy solutions to commercial and industrial users.

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