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 earnings per share (EPS) guidance of $4.75-5.05 for the period, compared to the consensus estimate of $4.92.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on EIX shares. Royal Bank of Canada decreased their target price on Edison International from $81.00 to $80.00 and set an outperform rating on the stock in a report on Thursday, March 7th. Barclays increased their price target on Edison International from $69.00 to $70.00 and gave the stock an equal weight rating in a research note on Monday, February 26th. The Goldman Sachs Group began coverage on Edison International in a research report on Wednesday, April 10th. They issued a neutral rating and a $78.00 price objective on the stock. Mizuho dropped their price objective on Edison International from $76.00 to $75.00 and set a buy rating for the company in a research note on Thursday, January 25th. Finally, Guggenheim raised Edison International from a neutral rating to a buy rating and boosted their price target for the stock from $66.00 to $84.00 in a report on Monday, January 22nd. 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.com, the company currently has a consensus rating of Hold and a consensus target price of $73.60.

Edison International Stock Down 0.4 %

Edison International stock traded down $0.27 during midday trading on Tuesday, reaching $71.06. The company’s stock had a trading volume of 3,070,814 shares, compared to its average volume of 2,198,875. Edison International has a 52-week low of $58.82 and a 52-week 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. The stock has a market capitalization of $27.34 billion, a P/E ratio of 22.86 and a beta of 0.96. The stock’s 50-day simple moving average is $69.08 and its 200-day simple moving average is $67.80.

Edison International (NYSE:EIX) last issued its quarterly 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 business had revenue of $3.71 billion for 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 quarter in the prior year, the business posted $1.14 EPS. On average, sell-side analysts expect that Edison International will post 4.92 EPS for the current year.

Edison International Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders 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%.

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.