Edison International (NYSE:EIX) Posts Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Edison International (NYSE:EIX - Get Free Report) issued its quarterly earnings results on Tuesday. The utilities provider reported $1.13 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.01, Briefing.com reports. Edison International had a return on equity of 12.63% and a net margin of 8.35%. The firm had revenue of $4.08 billion for the quarter, compared to the consensus estimate of $4.16 billion. During the same period in the prior year, the business posted $1.09 earnings per share. The company's revenue for the quarter was up 2.8% on a year-over-year basis. Edison International updated its FY24 guidance to $4.75-5.05 EPS and its FY 2024 guidance to 4.750-5.050 EPS.

Edison International Stock Up 0.3 %

NYSE EIX traded up $0.22 during midday trading on Wednesday, hitting $71.28. 2,646,513 shares of the company traded hands, compared to its average volume of 2,204,449. The company has a debt-to-equity ratio of 1.86, a current ratio of 0.79 and a quick ratio of 0.73. The company has a market cap of $27.42 billion, a PE ratio of 22.85 and a beta of 0.96. The company's 50-day simple moving average is $69.24 and its 200-day simple moving average is $67.86. Edison International has a 52 week low of $58.82 and a 52 week high of $74.41.

Edison International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th were given a dividend of $0.78 per share. The ex-dividend date was Wednesday, March 27th. This represents a $3.12 annualized dividend and a yield of 4.38%. Edison International's dividend payout ratio (DPR) is presently 100.00%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Barclays increased their price target on Edison International from $69.00 to $70.00 and gave the stock an "equal weight" rating in a report on Monday, February 26th. Guggenheim raised Edison International from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $66.00 to $84.00 in a research note on Monday, January 22nd. TheStreet cut Edison International from a "b" rating to a "c+" rating in a research note on Thursday, February 22nd. Royal Bank of Canada dropped their price objective on Edison International from $81.00 to $80.00 and set an "outperform" rating on the stock in a research note on Thursday, March 7th. Finally, The Goldman Sachs Group initiated coverage on Edison International in a research note on Wednesday, April 10th. They issued a "neutral" rating and a $78.00 price objective on the stock. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target 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.