The AES Corp. (AES) Downgraded to Equal Weight at Barclays PLC
Barclays PLC downgraded shares of The AES Corp. (NYSE:AES) from an overweight rating to an equal weight rating in a research note issued to investors on Tuesday. Barclays PLC currently has $12.00 price objective on the stock, down from their prior price objective of $14.00.
A number of other brokerages have also recently issued reports on AES. TheStreet cut The AES Corp. from a buy rating to a hold rating in a research note on Friday, August 5th. Zacks Investment Research upgraded The AES Corp. from a sell rating to a hold rating in a research note on Tuesday, June 21st. Finally, JPMorgan Chase & Co. reiterated a buy rating on shares of The AES Corp. in a research report on Thursday, June 16th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of Hold and an average target price of $12.75.
The AES Corp. (NYSE:AES) traded up 0.126% during midday trading on Tuesday, reaching $11.965. 1,382,592 shares of the company traded hands. The company’s market capitalization is $7.89 billion. The stock’s 50 day moving average is $12.52 and its 200 day moving average is $11.85. The AES Corp. has a one year low of $8.22 and a one year high of $13.32.
The AES Corp. (NYSE:AES) last announced its quarterly earnings data on Friday, August 5th. The company reported $0.17 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.16 by $0.01. The AES Corp. had a positive return on equity of 13.56% and a negative net margin of 1.89%. The business had revenue of $3.23 billion for the quarter, compared to analysts’ expectations of $3.71 billion. During the same period in the previous year, the business posted $0.25 EPS. The firm’s quarterly revenue was down 11.7% compared to the same quarter last year. On average, equities analysts anticipate that The AES Corp. will post $0.99 earnings per share for the current year.
A number of hedge funds have recently modified their holdings of the company. M&T Bank Corp raised its stake in shares of The AES Corp. by 71.2% in the first quarter. M&T Bank Corp now owns 55,161 shares of the company’s stock valued at $651,000 after buying an additional 22,935 shares in the last quarter. NN Investment Partners Holdings N.V. purchased a new stake in shares of The AES Corp. during the first quarter valued at about $3,073,000. Massmutual Trust Co. FSB ADV raised its stake in shares of The AES Corp. by 9.4% in the first quarter. Massmutual Trust Co. FSB ADV now owns 18,272 shares of the company’s stock valued at $216,000 after buying an additional 1,563 shares in the last quarter. Sentry Investment Management LLC raised its stake in shares of The AES Corp. by 47.3% in the first quarter. Sentry Investment Management LLC now owns 51,949 shares of the company’s stock valued at $613,000 after buying an additional 16,681 shares in the last quarter. Finally, BlackRock Japan Co. Ltd raised its stake in shares of The AES Corp. by 6.0% in the first quarter. BlackRock Japan Co. Ltd now owns 1,078,230 shares of the company’s stock valued at $12,723,000 after buying an additional 60,691 shares in the last quarter. 94.55% of the stock is owned by institutional investors and hedge funds.
The AES Corp. Company Profile
The AES Corporation is a holding company. The Company, through its subsidiaries and affiliates, operates a diversified portfolio of electricity generation and distribution businesses. The Company is organized into six strategic business units (SBUs): the United States; Andes; Brazil; Mexico, Central America and Caribbean (MCAC); Europe, and Asia.
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