Edison International Announces Quarterly Dividend of $0.83 (NYSE:EIX)

Key Points

• Edison International has declared a quarterly dividend of $0.83, with stockholders of record on October 7th set to receive it on October 31st, representing a 6.1% dividend yield.
• The company's recent quarterly earnings topped expectations, reporting $0.97 earnings per share, exceeding estimates of $0.88, alongside revenue of $4.54 billion.
• Analysts have mixed ratings on Edison International, with a consensus target price of $72.15, and multiple brokerages adjusting their price objectives recently.

Edison International (NYSE:EIX - Get Free Report) announced a quarterly dividend on Monday, September 22nd, RTT News reports. Stockholders of record on Tuesday, October 7th will be given a dividend of 0.8275 per share by the utilities provider on Friday, October 31st. This represents a c) annualized dividend and a dividend yield of 6.1%.

Edison International has a dividend payout ratio of 54.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Edison International to earn $5.76 per share next year, which means the company should continue to be able to cover its $3.31 annual dividend with an expected future payout ratio of 57.5%.

Edison International Trading Down 2.4%

Shares of Edison International stock traded down $1.32 during mid-day trading on Monday, hitting $54.32. The stock had a trading volume of 3,945,030 shares, compared to its average volume of 3,200,771. The firm has a 50-day moving average of $54.26 and a two-hundred day moving average of $54.75. Edison International has a 12-month low of $47.73 and a 12-month high of $88.64. The company has a quick ratio of 0.81, a current ratio of 0.87 and a debt-to-equity ratio of 2.03. The firm has a market cap of $20.90 billion, a P/E ratio of 7.98, a price-to-earnings-growth ratio of 1.31 and a beta of 0.80.

Edison International (NYSE:EIX - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The utilities provider reported $0.97 earnings per share for the quarter, topping analysts' consensus estimates of $0.88 by $0.09. The firm had revenue of $4.54 billion during the quarter, compared to analysts' expectations of $4.52 billion. Edison International had a net margin of 16.00% and a return on equity of 11.99%. The firm's quarterly revenue was up 4.8% on a year-over-year basis. During the same quarter last year, the company posted $1.23 EPS. Edison International has set its FY 2025 guidance at 5.940-6.340 EPS. Sell-side analysts forecast that Edison International will post 4.95 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on EIX. UBS Group reduced their price objective on shares of Edison International from $68.00 to $66.00 and set a "buy" rating on the stock in a report on Thursday, September 11th. Morgan Stanley boosted their price objective on shares of Edison International from $55.00 to $61.00 and gave the company an "underweight" rating in a research report on Thursday. Barclays boosted their price objective on shares of Edison International from $64.00 to $65.00 and gave the stock an "overweight" rating in a research note on Monday, August 4th. Finally, Wolfe Research cut shares of Edison International from an "outperform" rating to a "peer perform" rating in a report on Monday, June 9th. Seven equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $72.15.

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.

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