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

Edison International (NYSE:EIX) updated its FY 2024 earnings guidance on Tuesday. The company provided EPS guidance of 4.800-5.000 for the period, compared to the consensus EPS 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

A number of equities research analysts have recently issued reports on EIX shares. Evercore ISI boosted their target price on Edison International from $82.00 to $88.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 14th. Morgan Stanley boosted their price target on shares of Edison International from $68.00 to $72.00 and gave the company an “underweight” rating in a report on Wednesday, September 25th. Wells Fargo & Company increased their price objective on Edison International from $87.00 to $94.00 and gave the stock an “overweight” rating in a report on Wednesday. Royal Bank of Canada raised their target price on Edison International from $94.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Finally, Barclays upped their price objective on shares of Edison International from $89.00 to $91.00 and gave the stock an “equal weight” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $88.36.

Edison International Stock Performance

Edison International stock traded up $0.10 on Wednesday, hitting $83.24. The company’s stock had a trading volume of 2,449,660 shares, compared to its average volume of 1,993,498. The company has a quick ratio of 0.96, a current ratio of 1.03 and a debt-to-equity ratio of 2.04. The company has a fifty day moving average price of $85.50 and a 200-day moving average price of $78.61. Edison International has a one year low of $62.21 and a one year high of $88.77. The firm has a market cap of $32.15 billion, a P/E ratio of 33.43, a price-to-earnings-growth ratio of 1.94 and a beta of 0.91.

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

Edison International Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, October 7th will be issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 3.75%. The ex-dividend date of this dividend is Monday, October 7th. Edison International’s dividend payout ratio is currently 125.30%.

Insider Buying and Selling at Edison International

In related news, CEO J Andrew Murphy sold 23,896 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $85.45, for a total transaction of $2,041,913.20. Following the completion of the sale, the chief executive officer now directly owns 19,850 shares of the company’s stock, valued at $1,696,182.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.20% of the company’s stock.

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.