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 (EPS) guidance of 4.750-5.050 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 $4.75-5.05 EPS.

Edison International Price Performance

Edison International stock traded down $0.25 during mid-day trading on Tuesday, reaching $71.08. 3,091,410 shares of the company were exchanged, compared to its average volume of 2,199,123. The company has a fifty day simple moving average of $69.18 and a 200-day simple moving average of $67.84. The firm has a market cap of $27.34 billion, a PE ratio of 22.78 and a beta of 0.96. Edison International has a 12 month low of $58.82 and a 12 month high of $74.92. The company has a debt-to-equity ratio of 1.86, a current ratio of 0.79 and a quick ratio of 0.73.

Edison International (NYSE:EIX) last issued its earnings results on Thursday, February 22nd. The utilities provider reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates of $1.16 by $0.12. The firm had revenue of $3.71 billion for the quarter, compared to the consensus estimate of $4.19 billion. Edison International had a return on equity of 12.63% and a net margin of 8.35%. During the same quarter last year, the business posted $1.14 EPS. As a group, equities research analysts expect that Edison International will post 4.92 earnings per share for the current fiscal year.

Edison International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th will be issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 4.39%. The ex-dividend date is Wednesday, March 27th. Edison International’s dividend payout ratio is presently 100.00%.

Analyst Upgrades and Downgrades

EIX has been the topic of a number of research analyst reports. TheStreet downgraded Edison International from a b rating to a c+ rating in a report on Thursday, February 22nd. Mizuho cut their price objective on Edison International from $76.00 to $75.00 and set a buy rating on the stock in a report on Thursday, January 25th. Guggenheim raised Edison International from a neutral rating to a buy rating and raised their price objective for the company from $66.00 to $84.00 in a report on Monday, January 22nd. StockNews.com raised Edison International from a sell rating to a hold rating in a report on Saturday, February 24th. Finally, Barclays raised their price objective on Edison International from $69.00 to $70.00 and gave the company an equal weight rating in a report on Monday, February 26th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of Hold and an average price target of $73.60.

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.