Edison International (NYSE:EIX – Get Free Report) issued its quarterly earnings results on Thursday. The utilities provider reported $1.23 EPS for the quarter, topping the consensus estimate of $1.05 by $0.18, Briefing.com reports. The firm had revenue of $4.34 billion during the quarter, compared to analysts’ expectations of $4.12 billion. Edison International had a return on equity of 13.07% and a net margin of 6.60%. The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same period in the previous year, the business earned $1.01 earnings per share. Edison International updated its FY24 guidance to $4.75-5.05 EPS and its FY 2024 guidance to 4.750-5.050 EPS.
Edison International Trading Up 2.7 %
Shares of NYSE:EIX traded up $2.08 during mid-day trading on Friday, reaching $78.51. 2,775,708 shares of the company were exchanged, compared to its average volume of 1,647,022. Edison International has a 1 year low of $58.82 and a 1 year high of $79.50. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.00 and a quick ratio of 0.93. The firm’s 50-day simple moving average is $73.81 and its 200 day simple moving average is $70.86. The firm has a market cap of $30.21 billion, a price-to-earnings ratio of 34.43 and a beta of 0.91.
Edison International Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Monday, July 8th will be paid a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.97%. The ex-dividend date is Monday, July 8th. Edison International’s dividend payout ratio (DPR) is 136.84%.
Analysts Set New Price Targets
View Our Latest Stock Report on EIX
Insider Activity at Edison International
In other news, SVP Caroline Choi sold 10,004 shares of the firm’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $75.77, for a total transaction of $758,003.08. Following the completion of the transaction, the senior vice president now directly owns 26,918 shares in the company, valued at $2,039,576.86. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Edison International news, SVP Caroline Choi sold 10,004 shares of the firm’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $75.77, for a total value of $758,003.08. Following the completion of the transaction, the senior vice president now owns 26,918 shares of the company’s stock, valued at approximately $2,039,576.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO J Andrew Murphy sold 9,794 shares of the business’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $75.07, for a total value of $735,235.58. Following the transaction, the chief executive officer now directly owns 19,660 shares of the company’s stock, valued at $1,475,876.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 77,897 shares of company stock worth $5,851,245. Insiders own 1.03% of the company’s stock.
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.
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