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 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.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on EIX shares. 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 price objective for the company. 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 increased their price objective on shares of Edison International from $80.00 to $83.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Evercore ISI upped their price target on shares of Edison International from $82.00 to $88.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 14th. Finally, Morgan Stanley lifted 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. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $87.55.

Edison International Stock Down 1.6 %

Shares of EIX traded down $1.34 during trading hours on Tuesday, hitting $83.14. 2,384,084 shares of the company were exchanged, compared to its average volume of 1,991,201. Edison International has a 52 week low of $62.09 and a 52 week high of $88.77. The firm’s 50 day moving average is $85.54 and its 200-day moving average is $78.48. The company has a debt-to-equity ratio of 2.04, a quick ratio of 0.96 and a current ratio of 1.03. The company has a market cap of $32.11 billion, a PE ratio of 33.93, a PEG ratio of 1.94 and a beta of 0.91.

Edison International Dividend Announcement

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

Insider Buying and Selling at Edison International

In other news, CEO J Andrew Murphy sold 32,505 shares of Edison International stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $80.12, for a total transaction of $2,604,300.60. Following the completion of the sale, the chief executive officer now owns 19,660 shares in the company, valued at $1,575,159.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Edison International news, CEO J Andrew Murphy sold 32,505 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $80.12, for a total transaction of $2,604,300.60. Following the sale, the chief executive officer now directly owns 19,660 shares in the company, valued at approximately $1,575,159.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Natalie K. Schilling sold 2,341 shares of the business’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $80.00, for a total value of $187,280.00. Following the completion of the sale, the vice president now owns 6,338 shares in the company, valued at approximately $507,040. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 60,104 shares of company stock worth $4,949,264. 1.20% of the stock is currently owned by insiders.

Edison International Company Profile

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.