Edison International (NYSE:EIX) Releases FY 2024 Earnings Guidance

Edison International (NYSE:EIX) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 4.800-5.000 for the period, compared to the consensus estimate of 4.940. The company issued revenue guidance of -. Edison International also updated its FY24 guidance to $4.80-5.00 EPS.

Wall Street Analyst Weigh In

EIX has been the topic of a number of research analyst reports. Evercore ISI boosted their price objective on shares of Edison International from $82.00 to $88.00 and gave the company an “outperform” rating in a report on Wednesday, August 14th. Morgan Stanley boosted their price target on Edison International from $68.00 to $72.00 and gave the company an “underweight” rating in a research note on Wednesday, September 25th. Wells Fargo & Company raised their price objective on Edison International from $87.00 to $94.00 and gave the stock an “overweight” rating in a research note on Wednesday. Bank of America began coverage on Edison International in a research report on Thursday, September 12th. They issued a “buy” rating and a $95.00 target price on the stock. Finally, Guggenheim raised their price target on shares of Edison International from $80.00 to $83.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $88.36.

Edison International Price Performance

Shares of EIX stock traded down $0.82 during mid-day trading on Thursday, hitting $82.42. 3,176,352 shares of the stock were exchanged, compared to its average volume of 1,999,104. The company has a quick ratio of 0.96, a current ratio of 1.03 and a debt-to-equity ratio of 2.04. Edison International has a 52-week low of $62.21 and a 52-week high of $88.77. The firm has a fifty day moving average of $85.47 and a 200 day moving average of $78.64. The company has a market cap of $31.83 billion, a PE ratio of 24.17, a price-to-earnings-growth ratio of 1.94 and a beta of 0.91.

Edison International (NYSE:EIX) last issued its earnings results on Tuesday, October 29th. The utilities provider reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.12. The business had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.01 billion. Edison International had a net margin of 6.60% and a return on equity of 13.01%. The company’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same period in the prior year, the business earned $1.38 earnings per share. Research analysts anticipate that Edison International will post 4.95 earnings per share for the current year.

Edison International Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, October 7th will be issued a $0.78 dividend. The ex-dividend date is Monday, October 7th. This represents a $3.12 annualized dividend and a dividend yield of 3.79%. Edison International’s dividend payout ratio is presently 91.50%.

Insider Buying and Selling at Edison International

In related news, CEO J Andrew Murphy sold 23,896 shares of Edison International stock in a transaction on Monday, August 26th. The stock was sold at an average price of $85.45, for a total value of $2,041,913.20. Following the completion of the transaction, the chief executive officer now directly owns 19,850 shares in the company, valued at approximately $1,696,182.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.03% of the stock is currently owned by corporate insiders.

About Edison International

Edison International, through its subsidiaries, engages in the generation and distribution of electric power. The company supplies and delivers electricity to approximately 50,000 square mile area of southern California to residential, commercial, industrial, public authorities, agricultural, and other sectors.