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

Edison International (NYSE:EIX) updated 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 estimate of 4.940. The company issued revenue guidance of -. Edison International also updated its FY24 guidance to $4.80-5.00 EPS.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Barclays reduced their price objective on shares of Edison International from $91.00 to $89.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 15th. Bank of America initiated coverage on Edison International in a research report on Thursday, September 12th. They issued a “buy” rating and a $95.00 price target on the stock. Guggenheim upped their price objective 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. Morgan Stanley raised their price target on Edison International from $68.00 to $72.00 and gave the company an “underweight” rating in a report on Wednesday, September 25th. Finally, Wells Fargo & Company boosted their price objective on shares of Edison International from $86.00 to $87.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $87.55.

Edison International Stock Down 1.6 %

NYSE:EIX traded down $1.34 during mid-day trading on Tuesday, hitting $83.14. The company had a trading volume of 2,384,084 shares, compared to its average volume of 1,991,201. The business has a fifty day simple moving average of $85.52 and a 200-day simple moving average of $78.58. The firm has a market capitalization of $32.11 billion, a price-to-earnings ratio of 33.39, a PEG ratio of 1.94 and a beta of 0.91. Edison International has a 1 year low of $62.09 and a 1 year high of $88.77. The company has a current ratio of 1.03, a quick ratio of 0.96 and a debt-to-equity ratio of 2.04.

Edison International Announces Dividend

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

Insider Activity at Edison International

In other Edison International news, CEO J Andrew Murphy sold 1,362 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $85.00, for a total value of $115,770.00. Following the sale, the chief executive officer now directly owns 19,850 shares in the company, valued at approximately $1,687,250. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Edison International news, CEO J Andrew Murphy sold 1,362 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $85.00, for a total value of $115,770.00. Following the completion of the sale, the chief executive officer now directly owns 19,850 shares of the company’s stock, valued at approximately $1,687,250. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Natalie K. Schilling sold 2,341 shares of the stock in a transaction on 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 transaction, the vice president now owns 6,338 shares of the company’s stock, valued at $507,040. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 60,104 shares of company stock valued at $4,949,264 over the last three months. 1.20% of the stock is 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.