Edison International (NYSE:EIX) Updates 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 guidance of 4.750-5.050 for the period, compared to the consensus earnings per share 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 Trading Down 0.4 %

Shares of NYSE EIX traded down $0.25 during mid-day trading on Tuesday, hitting $71.08. 3,091,410 shares of the company traded hands, compared to its average volume of 2,199,123. Edison International has a 1 year low of $58.82 and a 1 year high of $74.92. The stock has a market capitalization of $27.34 billion, a price-to-earnings ratio of 22.78 and a beta of 0.96. The company has a quick ratio of 0.73, a current ratio of 0.79 and a debt-to-equity ratio of 1.86. The business has a 50 day moving average of $69.18 and a two-hundred day moving average of $67.84.

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

Edison International Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, March 28th will be paid a $0.78 dividend. 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 dividend payout ratio is currently 100.00%.

Analyst Ratings Changes

EIX has been the topic of several research reports. StockNews.com raised Edison International from a sell rating to a hold rating in a research report on Saturday, February 24th. Barclays upped their target price on Edison International from $69.00 to $70.00 and gave the stock an equal weight rating in a research report on Monday, February 26th. Guggenheim raised Edison International from a neutral rating to a buy rating and upped their target price for the stock from $66.00 to $84.00 in a research report on Monday, January 22nd. TheStreet lowered Edison International from a b rating to a c+ rating in a report on Thursday, February 22nd. Finally, Mizuho lowered 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. One 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. Based on data from MarketBeat.com, the company presently has an average rating of Hold and a consensus target price 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.