Here's Why You Add Edison International (EIX) Stock Now
Zacks Investment Research | Jul 05, 2019 08:09AM ET
Earnings estimates for Edison International (NYSE:EIX) have been revised upward in the past 60 days, which reflects analysts’ optimism on the stock. The Zacks Consensus Estimate for 2019 and 2020 earnings has moved up 8.2% and 0.6% to $4.72 and $4.74 per share, respectively.
Let’s focus on the factors that make the stockan appropriate pick at the moment.
Capital Investment
The company is focused on transmission and distribution of infrastructural development programs along with grid modernization and expansion of operations. Notably, Edison International is the parent holding company of Southern (NYSE:SO) California Edison (“SCE”). Currently, SCE intends to invest $8.90-$9.10 billion between 2019 and 2020.
Price Performance
Shares of the company have gained on a long-term basis. In the past five years, the stock has rallied 21.1% compared with the Zacks Investment Research
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