Research Analysts Set Expectations for The AES Co.’s FY2024 Earnings (NYSE:AES)

The AES Co. (NYSE:AESFree Report) – Research analysts at Seaport Res Ptn raised their FY2024 earnings per share estimates for shares of AES in a research report issued on Monday, March 18th. Seaport Res Ptn analyst A. Storozynski now expects that the utilities provider will earn $1.92 per share for the year, up from their previous estimate of $1.91. The consensus estimate for AES’s current full-year earnings is $1.90 per share. Seaport Res Ptn also issued estimates for AES’s FY2026 earnings at $2.10 EPS.

AES (NYSE:AESGet Free Report) last posted its quarterly earnings results on Tuesday, February 27th. The utilities provider reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.06. The company had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $3.36 billion. AES had a return on equity of 38.76% and a net margin of 2.12%. The firm’s quarterly revenue was down 3.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.49 EPS.

Several other brokerages also recently commented on AES. Barclays dropped their price objective on AES from $21.00 to $20.00 and set an “overweight” rating on the stock in a research note on Thursday, March 14th. Morgan Stanley raised their price objective on AES from $24.00 to $25.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 28th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat, AES presently has an average rating of “Hold” and an average price target of $21.00.

Check Out Our Latest Research Report on AES

AES Stock Performance

AES stock opened at $15.76 on Wednesday. The business’s fifty day moving average is $16.38 and its 200-day moving average is $16.56. The company has a quick ratio of 0.61, a current ratio of 0.68 and a debt-to-equity ratio of 4.42. The company has a market cap of $11.20 billion, a P/E ratio of 47.76, a price-to-earnings-growth ratio of 0.93 and a beta of 1.07. AES has a twelve month low of $11.43 and a twelve month high of $25.74.

AES Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be issued a dividend of $0.1725 per share. This represents a $0.69 dividend on an annualized basis and a yield of 4.38%. The ex-dividend date of this dividend is Tuesday, April 30th. AES’s payout ratio is currently 209.10%.

Hedge Funds Weigh In On AES

A number of hedge funds and other institutional investors have recently bought and sold shares of AES. Capital World Investors raised its position in shares of AES by 76.9% in the fourth quarter. Capital World Investors now owns 71,348,566 shares of the utilities provider’s stock valued at $1,373,460,000 after buying an additional 31,009,718 shares in the last quarter. FMR LLC grew its stake in shares of AES by 38.6% in the third quarter. FMR LLC now owns 36,821,650 shares of the utilities provider’s stock worth $559,689,000 after purchasing an additional 10,256,781 shares during the last quarter. Capital International Investors lifted its holdings in AES by 11.1% in the second quarter. Capital International Investors now owns 63,421,695 shares of the utilities provider’s stock valued at $1,314,582,000 after buying an additional 6,323,045 shares during the period. Goldman Sachs Group Inc. lifted its holdings in AES by 70.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 6,441,980 shares of the utilities provider’s stock valued at $124,008,000 after buying an additional 2,670,001 shares during the period. Finally, Marshall Wace LLP lifted its holdings in AES by 5,703.5% in the second quarter. Marshall Wace LLP now owns 2,426,912 shares of the utilities provider’s stock valued at $50,310,000 after buying an additional 2,385,094 shares during the period. Institutional investors own 94.49% of the company’s stock.

AES Company Profile

(Get Free Report)

The AES Corporation, together with its subsidiaries, operates as a diversified power generation and utility company in the United States and internationally. The company owns and/or operates power plants to generate and sell power to customers, such as utilities, industrial users, and other intermediaries; 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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