KeyCorp Comments on Edison International’s FY2022 Earnings (NYSE:EIX)

Edison International (NYSE:EIXGet Rating) – Equities research analysts at KeyCorp increased their FY2022 earnings per share estimates for shares of Edison International in a note issued to investors on Tuesday, November 8th. KeyCorp analyst S. Karp now expects that the utilities provider will earn $4.58 per share for the year, up from their prior estimate of $4.51. The consensus estimate for Edison International’s current full-year earnings is $4.53 per share. KeyCorp also issued estimates for Edison International’s Q4 2022 earnings at $1.11 EPS, FY2023 earnings at $4.85 EPS and FY2024 earnings at $5.15 EPS.

A number of other research firms have also recently weighed in on EIX. StockNews.com cut Edison International from a “hold” rating to a “sell” rating in a report on Thursday, November 3rd. JPMorgan Chase & Co. lowered their target price on Edison International from $74.00 to $70.00 and set a “neutral” rating on the stock in a report on Tuesday, October 25th. Barclays lowered their target price on Edison International from $73.00 to $67.00 and set an “equal weight” rating on the stock in a report on Monday, July 18th. Evercore ISI lowered their target price on Edison International to $71.00 in a report on Tuesday, August 9th. Finally, Guggenheim lowered their target price on Edison International from $82.00 to $66.00 in a report on Monday, October 24th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $67.58.

Edison International Stock Performance

Shares of EIX stock opened at $60.29 on Thursday. The company has a market cap of $23.02 billion, a price-to-earnings ratio of 31.90, a price-to-earnings-growth ratio of 4.96 and a beta of 0.73. The company has a current ratio of 0.60, a quick ratio of 0.55 and a debt-to-equity ratio of 1.64. The stock has a 50 day simple moving average of $61.32 and a 200-day simple moving average of $64.62. Edison International has a 12-month low of $54.45 and a 12-month high of $73.32.

Edison International Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, October 31st. Investors of record on Friday, September 30th were paid a $0.70 dividend. The ex-dividend date of this dividend was Thursday, September 29th. This represents a $2.80 dividend on an annualized basis and a yield of 4.64%. Edison International’s dividend payout ratio (DPR) is 148.15%.

Hedge Funds Weigh In On Edison International

A number of hedge funds have recently bought and sold shares of EIX. Godsey & Gibb Associates acquired a new position in Edison International in the first quarter valued at approximately $25,000. San Luis Wealth Advisors LLC bought a new stake in shares of Edison International during the first quarter valued at approximately $25,000. Prospera Financial Services Inc bought a new stake in shares of Edison International during the first quarter valued at approximately $27,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its holdings in shares of Edison International by 128.5% during the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 457 shares of the utilities provider’s stock valued at $29,000 after buying an additional 257 shares during the last quarter. Finally, Hazlett Burt & Watson Inc. bought a new stake in shares of Edison International during the first quarter valued at approximately $34,000. 87.21% of the stock is currently owned by institutional investors and hedge funds.

About Edison International

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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.

Further Reading

Earnings History and Estimates for Edison International (NYSE:EIX)

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