AES (NYSE:AES) Announces Quarterly Earnings Results, Beats Expectations By $0.16 EPS

AES (NYSE:AES) released its earnings results on Friday. The utilities provider reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.16, Yahoo Finance reports. The firm had revenue of $3.09 billion during the quarter, compared to analyst estimates of $3.20 billion. AES had a net margin of 4.40% and a return on equity of 39.82%. The business’s revenue was down 4.8% on a year-over-year basis. During the same quarter last year, the business earned $0.22 EPS. AES updated its FY 2024 guidance to 1.870-1.970 EPS.

AES Price Performance

Shares of AES opened at $18.67 on Monday. The firm has a market capitalization of $13.27 billion, a PE ratio of 25.93 and a beta of 1.08. The company has a debt-to-equity ratio of 4.42, a current ratio of 0.68 and a quick ratio of 0.61. The company’s fifty day moving average price is $16.73 and its 200-day moving average price is $17.02. AES has a 1-year low of $11.43 and a 1-year high of $23.07.

AES Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be given a dividend of $0.1725 per share. This represents a $0.69 annualized dividend and a yield of 3.70%. The ex-dividend date of this dividend is Tuesday, April 30th. AES’s dividend payout ratio is presently 95.83%.

Analyst Ratings Changes

Several research analysts recently issued reports on AES shares. 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. Argus reaffirmed a “buy” rating and issued a $25.00 price objective on shares of AES in a research note on Tuesday, March 26th. Mizuho began coverage on shares of AES in a research report on Thursday, April 18th. They set a “buy” rating and a $21.00 target price on the stock. UBS Group lowered their price target on shares of AES from $20.00 to $19.00 and set a “neutral” rating for the company in a research report on Wednesday, April 3rd. Finally, Morgan Stanley restated an “overweight” rating and set a $25.00 target price on shares of AES in a report on Monday, March 25th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, AES currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.13.

AES Company Profile

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.