Edison International (NYSE:EIX) Issues FY24 Earnings Guidance

Edison International (NYSE:EIX) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided EPS guidance of $4.80-5.00 for the period, compared to the consensus EPS estimate of $4.94.

Edison International Trading Down 1.6 %

Shares of EIX stock traded down $1.34 during mid-day trading on Tuesday, hitting $83.14. 2,405,277 shares of the company’s stock were exchanged, compared to its average volume of 1,991,201. Edison International has a fifty-two week low of $62.09 and a fifty-two week high of $88.77. The stock has a 50-day simple moving average of $85.54 and a two-hundred day simple moving average of $78.48. The company has a quick ratio of 0.96, a current ratio of 1.03 and a debt-to-equity ratio of 2.04. The stock has a market cap of $32.11 billion, a price-to-earnings ratio of 33.93, a PEG ratio of 1.94 and a beta of 0.91.

Edison International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, October 7th will be issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 3.75%. The ex-dividend date is Monday, October 7th. Edison International’s dividend payout ratio (DPR) is 125.30%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on EIX shares. Bank of America started coverage on Edison International in a report on Thursday, September 12th. They set a “buy” rating and a $95.00 price objective on the stock. Wells Fargo & Company lifted their target price on Edison International from $86.00 to $87.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Barclays reduced their target price on Edison International from $91.00 to $89.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 15th. Guggenheim lifted their target price on Edison International from $80.00 to $83.00 and gave the company a “buy” rating in a report on Friday, July 26th. Finally, Royal Bank of Canada lifted their target price on Edison International from $94.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, October 4th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $87.55.

Insider Buying and Selling at Edison International

In other Edison International news, VP Natalie K. Schilling sold 2,341 shares of Edison International stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $80.00, for a total value of $187,280.00. Following the completion of the transaction, the vice president now directly owns 6,338 shares in the company, valued at $507,040. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, VP Natalie K. Schilling sold 2,341 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $80.00, for a total value of $187,280.00. Following the completion of the transaction, the vice president now directly owns 6,338 shares of the company’s stock, valued at $507,040. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO J Andrew Murphy sold 23,896 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $85.45, for a total value of $2,041,913.20. Following the completion of the transaction, the chief executive officer now directly owns 19,850 shares of the company’s stock, valued at $1,696,182.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 60,104 shares of company stock worth $4,949,264 over the last ninety days. Company insiders own 1.20% of the company’s stock.

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.