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

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

Analyst Ratings Changes

Several research analysts recently commented on EIX shares. Barclays raised their price target on shares of Edison International from $89.00 to $91.00 and gave the company an “equal weight” rating in a report on Wednesday. Morgan Stanley lifted their target price 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. UBS Group increased their price target on Edison International from $86.00 to $89.00 and gave the company a “neutral” rating in a report on Wednesday, September 4th. Wells Fargo & Company boosted 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. Finally, Argus increased their target price on Edison International from $82.00 to $97.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $88.36.

Edison International Price Performance

Shares of NYSE:EIX traded down $0.82 during midday trading on Thursday, reaching $82.42. The company’s stock had a trading volume of 3,176,352 shares, compared to its average volume of 1,999,104. Edison International has a fifty-two week low of $62.21 and a fifty-two week high of $88.77. The company has a market capitalization of $31.83 billion, a P/E ratio of 24.17, a P/E/G ratio of 1.94 and a beta of 0.91. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.03 and a quick ratio of 0.96. The business’s fifty day simple moving average is $85.47 and its 200-day simple moving average is $78.64.

Edison International (NYSE:EIX) last announced its quarterly earnings results 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 net margin of 6.60% and a return on equity of 13.01%. The business had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.01 billion. During the same period last year, the company posted $1.38 EPS. Edison International’s revenue for the quarter was up 10.6% on a year-over-year basis. As a group, equities research analysts expect that Edison International will post 4.95 EPS for the current fiscal year.

Edison International Announces Dividend

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

Insider Buying and Selling at Edison International

In other 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 transaction of $2,041,913.20. Following the completion of the sale, the chief executive officer now owns 19,850 shares of the company’s stock, 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.03% 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.