Edison International (NYSE:EIX) – Equities researchers at KeyCorp decreased their FY2020 EPS estimates for Edison International in a research report issued to clients and investors on Monday, July 20th. KeyCorp analyst S. Karp now anticipates that the utilities provider will post earnings per share of $4.34 for the year, down from their prior estimate of $4.44. KeyCorp currently has a “Overweight” rating and a $69.00 target price on the stock. KeyCorp also issued estimates for Edison International’s Q4 2020 earnings at $1.10 EPS, FY2021 earnings at $4.59 EPS, FY2022 earnings at $4.92 EPS, FY2023 earnings at $5.27 EPS and FY2024 earnings at $5.58 EPS.
Edison International (NYSE:EIX) last posted its earnings results on Thursday, April 30th. The utilities provider reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.14). Edison International had a net margin of 10.15% and a return on equity of 11.33%. The firm had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $3.20 billion. During the same quarter in the prior year, the company posted $0.63 earnings per share. The firm’s revenue was down 1.2% compared to the same quarter last year.
EIX opened at $56.02 on Thursday. Edison International has a 1 year low of $43.63 and a 1 year high of $78.93. The firm has a market capitalization of $20.37 billion, a PE ratio of 16.24, a price-to-earnings-growth ratio of 3.84 and a beta of 0.48. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.79 and a quick ratio of 0.73. The business’s 50-day moving average is $56.84 and its two-hundred day moving average is $62.53.
Institutional investors and hedge funds have recently made changes to their positions in the business. Norges Bank acquired a new stake in Edison International during the 4th quarter worth $369,085,000. Capital International Investors increased its stake in Edison International by 26.0% in the 4th quarter. Capital International Investors now owns 21,741,987 shares of the utilities provider’s stock valued at $1,639,563,000 after buying an additional 4,492,182 shares during the last quarter. Clearbridge Investments LLC increased its stake in Edison International by 45.8% in the 1st quarter. Clearbridge Investments LLC now owns 6,132,666 shares of the utilities provider’s stock valued at $336,009,000 after buying an additional 1,926,165 shares during the last quarter. Pictet Asset Management Ltd. increased its stake in shares of Edison International by 42.3% during the 1st quarter. Pictet Asset Management Ltd. now owns 6,319,529 shares of the utilities provider’s stock worth $346,247,000 after purchasing an additional 1,878,746 shares during the last quarter. Finally, Macquarie Group Ltd. increased its stake in shares of Edison International by 15.6% during the 4th quarter. Macquarie Group Ltd. now owns 12,840,224 shares of the utilities provider’s stock worth $968,282,000 after purchasing an additional 1,728,507 shares during the last quarter. Hedge funds and other institutional investors own 87.36% of the company’s stock.
The business also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Monday, July 6th will be paid a $0.6375 dividend. This represents a $2.55 annualized dividend and a dividend yield of 4.55%. The ex-dividend date is Thursday, July 2nd. Edison International’s payout ratio is presently 54.26%.
About Edison International
Edison International, through its subsidiaries, engages in the generation, transmission, and distribution of electricity in the United States. It generates electricity through hydroelectric, diesel/liquid petroleum gas, natural gas, nuclear, and photovoltaic sources. The company supplies electricity primarily to residential, commercial, industrial, agricultural, and other customers, as well as public authorities through transmission and distribution networks.
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