Edison International [EIX] earnings preview: what to look & expect from their March quarter

Earnings from Edison International [EIX] are scheduled on April 27, 2021, after the market closes. It is expected that the company will report strong earnings for the quarter ending Mar 2021.


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EIX Stock Earnings Outlook For The Current Quarter

The consensus estimates for the quarter suggest that the company would earn $0.76 per share on revenue of $3.2B. Taking a look at the future, the company is projected to report revenue of $3.25B at an earnings per share of $1.05 for the Jun 2021 quarter. The estimates represent year-over-year improvements of 4.20% in revenue and 4.40% in earnings per share for the company.

EIX Stock Earnings Forecast For The Current Year

For the full financial year, Edison International [NYSE:EIX] is forecasted to generate revenue of $14.04B. The figure is about $460.0 million above what the company actually reported for the fiscal year 2020. In terms of EPS, it is estimated to be $4.5 in 2021, which is -$0.02 lower than the figure in FY20. Based on current estimates, earnings are expected to grow -0.40% this year, 4.40% next year, and 4.50% annually over the next five years. With regard to sales, forecasts suggest an incline of 3.40% in current fiscal year and 4.20% over following year.

EIX Stock Price Performance

At a recent check today, Edison International [NYSE:EIX] finished down -0.24% at $58.73. The stock’s day high price was $59.19, and its lowest was $58.64. Its price fall -3.68% in the last five days. Since the beginning of the year, Edison International’s shares are down nearly -6.29%. However, the share price is -11.92% below its one year high. The top price reached by the shares of the company was $63.59 on 01/13/21, while the 52-week low came on 02/26/21, when the shares were $53.92. In the past year, shares of the company have fallen -0.64%. At 50 days, the moving average achieved is $58.55 while at 200 days, the moving average is $57.70. There were 0.19 million shares traded in the last session, down from 1.5 million in the previous session.

Edison International [NYSE:EIX] Stock Valuation Metrics

With a prevailing 12-month PE ratio of 29.87, Edison International [EIX] does not qualify as a good candidate for the list of underestimated low-priced stocks that should be purchased sooner rather than later. By this measure, the company’s stock is trading at a premium to the industry average of 16.91 times trailing earnings. Investors may find it helpful to look at historical price-sales ratios, and in the case of this stock, 1.65 PS value ratio is reported for the last one year of reported earnings. This is above the average return 1.52 for the industry, which means EIX offers an unattractive investment opportunity than its competitors do.

EIX Share Price Support And Resistance Levels

Based on the daily chart, the immediate backing lies around the 58.79 level, and the violation of this level will cause a further drop to 58.61 level. At the upper end, 59.71 remains a key resistance. As the stock increases, it may find resistance at 59.45. In the 14-day chart, the Relative Strength Index standing at 42.34 suggests a technical neutral stance while the MACD standing at -1.39 indicates price will decrease in the next trading period. Stochastic %K at 7.07% suggests buying the stock while Percent R indicator at 95.41% suggests bearish price movement.

How much is the short interest in Edison International?

There have been a drop in short interest in the Edison International Financial stock, with short interest up by 70000.0 shares to 5.13 million shares on Mar 14, 2021. According to data provided by Yahoo Finance, the short interest on Apr 14, 2021 stood at 5.2 million shares. This -1.36% decrease suggests some bullish sentiment was experienced by the stock. Shorted shares accounted for just 1.68% of the overall float in the stock, while the stock’s days to cover moved to 2.65.

How do analysts view Edison International?

In regard to the share price forecast for Edison International stock, the analysts, as surveyed by FactSet, forecast the price to reach $70.00 in the next twelve months, representing almost an 16.1% growth from its recent price of $58.73. Among Edison International stock projections, $79.00 is the highest analyst target for the stock, while $64.00 is the lowest. Despite this, 16 analysts who share their consensus rating for EIX in 2021 agree that the stock is an Overweight. The latest rating change took place on 4/21/21, when Keybanc Ratings launched coverage of the stock at “Overweight” and assigned a price target of $66.0.

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