KeyCorp Comments on Edison International’s Q2 2024 Earnings (NYSE:EIX)

Edison International (NYSE:EIX) – Stock analysts at KeyCorp issued their Q2 2024 earnings per share (EPS) estimates for Edison International in a report issued on Sunday, July 21st. KeyCorp analyst S. Karp expects that the utilities provider will earn $1.06 per share for the quarter. The consensus estimate for Edison International’s current full-year earnings is $4.92 per share. KeyCorp also issued estimates for Edison International’s Q3 2024 earnings at $1.43 EPS, Q4 2024 earnings at $1.28 EPS and FY2028 earnings at $6.89 EPS.

Several other analysts have also weighed in on EIX. UBS Group lowered Edison International from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $83.00 to $82.00 in a report on Friday, July 19th. Mizuho boosted their price objective on Edison International from $75.00 to $85.00 and gave the stock a “buy” rating in a research report on Friday, May 17th. Argus boosted their price objective on Edison International from $78.00 to $82.00 and gave the stock a “buy” rating in a research report on Wednesday, June 12th. Wells Fargo & Company upgraded Edison International from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $72.00 to $86.00 in a research report on Tuesday, May 14th. Finally, The Goldman Sachs Group began coverage on Edison International in a research report on Wednesday, April 10th. They issued a “neutral” rating and a $78.00 target price for the company. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $77.82.

Edison International Trading Up 0.5 %

Shares of EIX opened at $76.43 on Wednesday. The company has a market capitalization of $29.41 billion, a P/E ratio of 33.52 and a beta of 0.91. Edison International has a one year low of $58.82 and a one year high of $77.59. The company has a debt-to-equity ratio of 2.04, a quick ratio of 0.93 and a current ratio of 1.00. The stock has a 50-day moving average price of $73.77 and a 200 day moving average price of $70.84.

Edison International (NYSE:EIX) last issued its earnings results on Tuesday, April 30th. The utilities provider reported $1.13 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.01. The company had revenue of $4.08 billion during the quarter, compared to the consensus estimate of $4.16 billion. Edison International had a return on equity of 12.48% and a net margin of 6.14%. The company’s revenue was up 2.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.09 earnings per share.

Institutional Investors Weigh In On Edison International

A number of hedge funds have recently bought and sold shares of the company. Able Wealth Management LLC bought a new stake in shares of Edison International in the fourth quarter valued at about $25,000. Global Trust Asset Management LLC acquired a new stake in shares of Edison International in the first quarter valued at approximately $28,000. Country Trust Bank bought a new position in Edison International in the second quarter valued at approximately $29,000. OFI Invest Asset Management bought a new position in Edison International in the second quarter valued at approximately $32,000. Finally, WASHINGTON TRUST Co boosted its stake in Edison International by 117.4% in the fourth quarter. WASHINGTON TRUST Co now owns 500 shares of the utilities provider’s stock valued at $36,000 after acquiring an additional 270 shares during the last quarter. 88.95% of the stock is currently owned by institutional investors.

Insider Transactions at Edison International

In other news, SVP Caroline Choi sold 10,004 shares of the company’s stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $75.77, for a total value of $758,003.08. Following the transaction, the senior vice president now directly owns 26,918 shares of the company’s stock, valued at $2,039,576.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Edison International news, SVP Caroline Choi sold 10,004 shares of the stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $75.77, for a total transaction of $758,003.08. Following the transaction, the senior vice president now directly owns 26,918 shares of the company’s stock, valued at $2,039,576.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO J Andrew Murphy sold 58,099 shares of the stock in a transaction on Friday, May 10th. The stock was sold at an average price of $75.01, for a total transaction of $4,358,005.99. Following the transaction, the chief executive officer now directly owns 19,660 shares in the company, valued at $1,474,696.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 77,897 shares of company stock valued at $5,851,245. 1.03% of the stock is owned by insiders.

Edison International Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Monday, July 8th will be paid a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 4.08%. The ex-dividend date of this dividend is Monday, July 8th. Edison International’s dividend payout ratio (DPR) is currently 136.84%.

Edison International Company Profile

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.