Edison International (NYSE:EIX) Updates FY24 Earnings Guidance

Edison International (NYSE:EIX) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided EPS guidance of $4.75-5.05 for the period, compared to the consensus EPS estimate of $4.92. Edison International also updated its FY 2024 guidance to 4.750-5.050 EPS.

Edison International Stock Up 1.0 %

EIX traded up $0.69 during trading on Thursday, hitting $71.97. 2,003,187 shares of the company’s stock traded hands, compared to its average volume of 2,202,129. The company’s 50 day simple moving average is $69.24 and its two-hundred day simple moving average is $67.86. The company has a current ratio of 0.79, a quick ratio of 0.73 and a debt-to-equity ratio of 1.86. Edison International has a 12-month low of $58.82 and a 12-month high of $74.41. The stock has a market capitalization of $27.69 billion, a price-to-earnings ratio of 31.52 and a beta of 0.94.

Edison International (NYSE:EIX) last issued its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $1.13 EPS for the quarter, topping the consensus estimate of $1.12 by $0.01. Edison International had a return on equity of 12.49% and a net margin of 6.14%. The company had revenue of $4.08 billion during the quarter, compared to analyst estimates of $4.16 billion. During the same quarter in the previous year, the company posted $1.09 earnings per share. Edison International’s revenue was up 2.8% compared to the same quarter last year. Analysts predict that Edison International will post 4.92 earnings per share for the current fiscal year.

Edison International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Thursday, March 28th were issued a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 4.34%. The ex-dividend date of this dividend was Wednesday, March 27th. Edison International’s payout ratio is currently 136.84%.

Analysts Set New Price Targets

Several brokerages recently commented on EIX. Guggenheim raised Edison International from a neutral rating to a buy rating and lifted their price objective for the stock from $66.00 to $84.00 in a report on Monday, January 22nd. Barclays lifted their target price on Edison International from $72.00 to $75.00 and gave the company an equal weight rating in a research report on Thursday. Royal Bank of Canada lowered their target price on Edison International from $81.00 to $80.00 and set an outperform rating on the stock in a research report on Thursday, March 7th. TheStreet downgraded Edison International from a b rating to a c+ rating in a research report on Thursday, February 22nd. Finally, The Goldman Sachs Group began coverage on Edison International in a research report on Wednesday, April 10th. They set a neutral rating and a $78.00 target price on the stock. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of Hold and a consensus target price of $74.10.

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.