Edison International (NYSE:EIX) Releases FY24 Earnings Guidance

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

Analysts Set New Price Targets

Several brokerages recently commented on EIX. Barclays reduced their price objective on shares of Edison International from $91.00 to $89.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 15th. Wells Fargo & Company lifted their price objective on Edison International from $86.00 to $87.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Argus upped their target price on Edison International from $82.00 to $97.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. UBS Group raised their price target on Edison International from $86.00 to $89.00 and gave the company a “neutral” rating in a research report on Wednesday, September 4th. Finally, Royal Bank of Canada boosted their price objective on shares of Edison International from $94.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $87.55.

Edison International Trading Down 1.6 %

Edison International stock traded down $1.34 during trading on Tuesday, hitting $83.14. The company’s stock had a trading volume of 2,384,084 shares, compared to its average volume of 1,991,099. The stock’s fifty day moving average is $85.54 and its 200 day moving average is $78.48. The company has a debt-to-equity ratio of 2.04, a quick ratio of 0.96 and a current ratio of 1.03. Edison International has a 1-year low of $62.09 and a 1-year high of $88.77. The stock has a market capitalization of $32.11 billion, a price-to-earnings ratio of 33.93, a P/E/G ratio of 1.94 and a beta of 0.91.

Edison International Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, October 7th will be given a $0.78 dividend. The ex-dividend date is Monday, October 7th. This represents a $3.12 annualized dividend and a dividend yield of 3.75%. Edison International’s dividend payout ratio is presently 125.30%.

Insider Buying and Selling

In other Edison International news, CEO J Andrew Murphy sold 32,505 shares of Edison International stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $80.12, for a total value of $2,604,300.60. Following the transaction, the chief executive officer now owns 19,660 shares in the company, valued at $1,575,159.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, VP Natalie K. Schilling sold 2,341 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $80.00, for a total value of $187,280.00. Following the transaction, the vice president now owns 6,338 shares in the company, valued at approximately $507,040. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO J Andrew Murphy sold 32,505 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $80.12, for a total transaction of $2,604,300.60. Following the sale, the chief executive officer now owns 19,660 shares of the company’s stock, valued at approximately $1,575,159.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 60,104 shares of company stock valued at $4,949,264. 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.