Zacks Research Weighs in on AES's FY2024 Earnings (NYSE:AES)

The AES Co. (NYSE:AES - Free Report) - Zacks Research increased their FY2024 earnings per share (EPS) estimates for AES in a report released on Thursday, January 9th. Zacks Research analyst R. Department now anticipates that the utilities provider will post earnings of $1.96 per share for the year, up from their previous forecast of $1.95. The consensus estimate for AES's current full-year earnings is $1.95 per share. Zacks Research also issued estimates for AES's Q4 2024 earnings at $0.37 EPS, Q2 2025 earnings at $0.44 EPS, Q4 2025 earnings at $0.60 EPS, Q3 2026 earnings at $0.70 EPS and Q4 2026 earnings at $0.35 EPS.

AES has been the topic of a number of other reports. Susquehanna lowered their price target on shares of AES from $24.00 to $21.00 and set a "positive" rating on the stock in a report on Tuesday, November 5th. Bank of America started coverage on shares of AES in a report on Monday, November 25th. They issued an "underperform" rating and a $11.00 price target on the stock. Barclays lowered their price objective on AES from $23.00 to $17.00 and set an "overweight" rating for the company in a research report on Friday, December 13th. Evercore ISI upgraded AES to a "strong-buy" rating in a research note on Wednesday, September 18th. Finally, Hsbc Global Res upgraded shares of AES to a "strong-buy" rating in a report on Friday, December 13th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, AES currently has a consensus rating of "Moderate Buy" and an average price target of $19.30.

AES Trading Down 3.1 %

Shares of NYSE AES opened at $12.02 on Monday. The business has a fifty day moving average price of $13.25 and a 200 day moving average price of $16.11. AES has a 1-year low of $11.95 and a 1-year high of $22.21. The company has a debt-to-equity ratio of 3.21, a current ratio of 0.85 and a quick ratio of 0.80. The stock has a market capitalization of $8.55 billion, a P/E ratio of 8.35, a price-to-earnings-growth ratio of 0.71 and a beta of 1.00.

AES (NYSE:AES - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The utilities provider reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.11. The firm had revenue of $3.29 billion during the quarter, compared to analysts' expectations of $3.46 billion. AES had a net margin of 8.34% and a return on equity of 27.30%. The company's revenue was down 4.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.60 EPS.

AES Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be paid a $0.176 dividend. The ex-dividend date is Friday, January 31st. This represents a $0.70 dividend on an annualized basis and a dividend yield of 5.86%. This is a positive change from AES's previous quarterly dividend of $0.17. AES's dividend payout ratio is presently 48.61%.

Institutional Investors Weigh In On AES

Hedge funds have recently added to or reduced their stakes in the business. Millburn Ridgefield Corp acquired a new position in shares of AES in the 3rd quarter valued at about $28,000. Cromwell Holdings LLC lifted its holdings in AES by 59.1% in the third quarter. Cromwell Holdings LLC now owns 1,723 shares of the utilities provider's stock valued at $35,000 after acquiring an additional 640 shares during the period. Brooklyn Investment Group purchased a new stake in AES in the 3rd quarter worth approximately $63,000. Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in shares of AES during the 3rd quarter worth approximately $74,000. Finally, Blue Trust Inc. lifted its stake in shares of AES by 69.3% in the 3rd quarter. Blue Trust Inc. now owns 3,688 shares of the utilities provider's stock valued at $74,000 after purchasing an additional 1,509 shares during the period. 93.13% of the stock is owned by hedge funds and other institutional investors.

About AES

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.