AES (NYSE:AES) Updates FY 2022 Earnings Guidance

Posted by on Jun 6th, 2022

AES (NYSE:AES – Get Rating) updated its FY 2022 earnings guidance on Monday. The company provided earnings per share guidance of $1.55-$1.65 for the period, compared to the consensus earnings per share estimate of $1.62. The company issued revenue guidance of -.

Several brokerages have recently weighed in on AES. TheStreet lowered shares of AES from a b rating to a c- rating in a report on Tuesday, March 1st. Susquehanna Bancshares dropped their price objective on shares of AES from $32.00 to $30.00 in a report on Tuesday, May 10th. Seaport Res Ptn reiterated a buy rating on shares of AES in a report on Monday, April 4th. Credit Suisse Group began coverage on shares of AES in a research report on Monday, April 25th. They set a neutral rating and a $25.00 target price for the company. Finally, Citigroup began coverage on shares of AES in a research report on Tuesday, March 22nd. They set a buy rating and a $27.00 target price for the company. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of Buy and a consensus target price of $28.69.

AES stock traded up $0.78 during trading on Monday, reaching $23.05. The stock had a trading volume of 95,478 shares, compared to its average volume of 5,860,734. AES has a one year low of $19.14 and a one year high of $27.00. The company has a quick ratio of 0.95, a current ratio of 1.07 and a debt-to-equity ratio of 4.64. The company’s 50 day moving average is $22.58 and its two-hundred day moving average is $22.84. The company has a market capitalization of $15.39 billion, a price-to-earnings ratio of -85.59, a P/E/G ratio of 1.95 and a beta of 1.01.

AES (NYSE:AES – Get Rating) last issued its quarterly earnings data on Thursday, May 5th. The utilities provider reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.02). AES had a positive return on equity of 33.02% and a negative net margin of 2.21%. The firm had revenue of $2.85 billion during the quarter, compared to the consensus estimate of $2.53 billion. During the same period in the previous year, the company posted $0.28 earnings per share. The company’s revenue for the quarter was up 8.2% on a year-over-year basis. As a group, research analysts predict that AES will post 1.61 earnings per share for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust grew its position in shares of AES by 285.6% during the 1st quarter. Parkside Financial Bank & Trust now owns 2,402 shares of the utilities provider’s stock valued at $62,000 after acquiring an additional 1,779 shares during the period. Covestor Ltd grew its position in shares of AES by 1,223.9% during the 1st quarter. Covestor Ltd now owns 5,428 shares of the utilities provider’s stock valued at $140,000 after acquiring an additional 5,018 shares during the period. Atria Wealth Solutions Inc. bought a new position in shares of AES during the 1st quarter valued at approximately $225,000. Cetera Investment Advisers bought a new position in shares of AES during the 4th quarter valued at approximately $292,000. Finally, Silvercrest Asset Management Group LLC grew its position in shares of AES by 11.0% during the 4th quarter. Silvercrest Asset Management Group LLC now owns 13,220 shares of the utilities provider’s stock valued at $321,000 after acquiring an additional 1,310 shares during the period. 92.97% of the stock is owned by hedge funds and other institutional investors.

About AES (Get Rating)

The AES Corporation operates as a diversified power generation and utility company. It owns and/or operates power plants to generate and sell power to customers, such as utilities, industrial users, and other intermediaries. The company also owns and/or operates utilities to generate or purchase, distribute, transmit, and sell electricity to end-user customers in the residential, commercial, industrial, and governmental sectors; and generates and sells electricity on the wholesale market.

See Also

Earnings History and Estimates for AES (NYSE:AES)

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