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

Edison International (NYSE:EIX) updated its FY 2024 earnings guidance on Tuesday. The company provided 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 Stock Performance

Shares of NYSE:EIX traded down $0.25 during trading on Tuesday, reaching $71.08. 3,091,410 shares of the company’s stock traded hands, compared to its average volume of 2,199,123. The company has a debt-to-equity ratio of 1.86, a current ratio of 0.79 and a quick ratio of 0.73. The company has a 50 day moving average of $69.08 and a 200-day moving average of $67.80. The stock has a market capitalization of $27.34 billion, a P/E ratio of 22.86 and a beta of 0.96. Edison International has a 12 month low of $58.82 and a 12 month high of $74.92.

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

Edison International Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th will be given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 4.39%. The ex-dividend date of this dividend is Wednesday, March 27th. Edison International’s payout ratio is 100.00%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. StockNews.com upgraded Edison International from a sell rating to a hold rating in a report on Saturday, February 24th. TheStreet downgraded shares of Edison International from a b rating to a c+ rating in a research report on Thursday, February 22nd. Guggenheim upgraded shares of Edison International from a neutral rating to a buy rating and increased their target price for the stock from $66.00 to $84.00 in a research report on Monday, January 22nd. Mizuho lowered their price target on shares of Edison International from $76.00 to $75.00 and set a buy rating on the stock in a report on Thursday, January 25th. Finally, The Goldman Sachs Group assumed coverage on Edison International in a report on Wednesday, April 10th. They set a neutral rating and a $78.00 price objective for the company. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average 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.