Edison International (NYSE:EIX – Get Free Report) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share guidance of 4.800-5.000 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 $4.80-5.00 EPS.
Analyst Upgrades and Downgrades
Several equities research analysts have commented on the stock. Bank of America initiated coverage on shares of Edison International in a research note on Thursday, September 12th. They issued a “buy” rating and a $95.00 price objective for the company. Wells Fargo & Company boosted their price objective on Edison International from $86.00 to $87.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. UBS Group upped their price objective on Edison International from $86.00 to $89.00 and gave the company a “neutral” rating in a research note on Wednesday, September 4th. Guggenheim lifted their target price on Edison International from $80.00 to $83.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Finally, Evercore ISI raised their price objective on shares of Edison International from $82.00 to $88.00 and gave the stock an “outperform” rating in a report on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Edison International presently has a consensus rating of “Moderate Buy” and an average price target of $87.55.
Read Our Latest Analysis on Edison International
Edison International Stock Down 1.6 %
Edison International Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, October 7th will be paid a dividend of $0.78 per share. The ex-dividend date of this dividend is Monday, October 7th. This represents a $3.12 dividend on an annualized basis and a yield of 3.75%. Edison International’s dividend payout ratio is currently 125.30%.
Insiders Place Their Bets
In other news, CEO J Andrew Murphy sold 23,896 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $85.45, for a total transaction of $2,041,913.20. Following the completion of the sale, the chief executive officer now owns 19,850 shares of the company’s stock, valued at $1,696,182.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CEO J Andrew Murphy sold 23,896 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $85.45, for a total transaction of $2,041,913.20. Following the completion of the sale, the chief executive officer now owns 19,850 shares in the company, valued at approximately $1,696,182.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Natalie K. Schilling sold 2,341 shares of the company’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $80.00, for a total transaction of $187,280.00. Following the transaction, the vice president now owns 6,338 shares of the company’s stock, valued at approximately $507,040. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 60,104 shares of company stock valued at $4,949,264. Corporate 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.
Further Reading
- Five stocks we like better than Edison International
- What Does a Stock Split Mean?
- Is McDonald’s Stock a Smart Buy After Sell-Off and Earnings?
- What Are Dividend Champions? How to Invest in the Champions
- QuantumScape: Solid State EV Batteries Nearing Commercialization
- Election Stocks: How Elections Affect the Stock Market
- MicroStrategy: Is This Bitcoin-Powered Stock a Buy or a Gamble?
Receive News & Ratings for Edison International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Edison International and related companies with MarketBeat.com's FREE daily email newsletter.