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Here's Why Edison International (EIX) is a Strong Growth Stock

Zacks Equity Research
·2-min read

Taking full advantage of the stock market and investing with confidence are common goals for new and old investors alike.

Many investors also have a go-to methodology that helps guide their buy and sell decisions. One way to find winning stocks based on your preferred way of investing is to use the Zacks Style Scores, which are indicators that rate stocks based on three widely-followed investing types: value, growth, and momentum.

Why This 1 Growth Stock Should Be On Your Watchlist

Growth investors build their portfolios around companies that are financially strong and have a bright future, and the Growth Style Score helps take projected and historical earnings, sales, and cash flow into account to uncover stocks that will see long-term, sustainable growth.

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Edison International (EIX)

Incorporated in 1987, California-based Edison International (EIX) is the parent holding company of Southern California Edison (SCE). Edison International is also the parent company of subsidiaries that are engaged in competitive businesses related to the delivery or use of electricity.

EIX sits at a Zacks Rank #3 (Hold), holds a Growth Style Score of B, and has a VGM Score of A. Earnings and sales are forecasted to increase 5.7% and 5.5% year-over-year, respectively.

One analyst revised their earnings estimate upwards in the last 60 days for fiscal 2024. The Zacks Consensus Estimate has increased $0.02 to $5.03 per share. EIX boasts an average earnings surprise of 3.2%.

Looking at cash flow, Edison International is expected to report cash flow growth of 3% this year; EIX has generated cash flow growth of 8.6% over the past three to five years.

With solid fundamentals, a good Zacks Rank, and top-tier Growth and VGM Style Scores, EIX should be on investors' short lists.

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Edison International (EIX) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research