Edison International (NYSE:EIX) Releases 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.

Edison International Price Performance

Shares of EIX stock traded down $1.04 on Friday, reaching $81.36. The company’s stock had a trading volume of 1,104,492 shares, compared to its average volume of 1,994,605. The company has a market capitalization of $31.50 billion, a P/E ratio of 23.84, a PEG ratio of 1.94 and a beta of 0.91. The company has a quick ratio of 0.96, a current ratio of 0.88 and a debt-to-equity ratio of 1.96. The stock’s 50 day simple moving average is $85.47 and its 200-day simple moving average is $78.64. Edison International has a 12-month low of $62.21 and a 12-month high of $88.77.

Edison International (NYSE:EIX) last posted its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.38 by $0.13. Edison International had a net margin of 8.52% and a return on equity of 13.17%. The firm had revenue of $5.20 billion for the quarter, compared to analysts’ expectations of $5.01 billion. During the same quarter last year, the company posted $1.38 EPS. The business’s quarterly revenue was up 10.6% on a year-over-year basis. As a group, equities analysts predict that Edison International will post 4.94 earnings per share for the current fiscal year.

Edison International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, October 7th were paid a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 3.83%. The ex-dividend date was Monday, October 7th. Edison International’s dividend payout ratio is currently 91.50%.

Wall Street Analyst Weigh In

EIX has been the subject of a number of research reports. Royal Bank of Canada upped their price objective on shares of Edison International from $94.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. Guggenheim boosted their price target on shares of Edison International from $80.00 to $83.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Bank of America began coverage on Edison International in a research note on Thursday, September 12th. They set a “buy” rating and a $95.00 price objective on the stock. UBS Group boosted their target price on Edison International from $86.00 to $89.00 and gave the company a “neutral” rating in a research note on Wednesday, September 4th. Finally, Evercore ISI raised their price target on Edison International from $82.00 to $88.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 14th. One investment 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 presently has an average rating of “Moderate Buy” and an average target price of $88.36.

Insider Activity at Edison International

In other Edison International news, CEO J Andrew Murphy sold 1,362 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $85.00, for a total transaction of $115,770.00. Following the transaction, the chief executive officer now directly owns 19,850 shares of the company’s stock, valued at approximately $1,687,250. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.03% of the stock is 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.