The AES Corp. (AES) Stock Rating Upgraded by Zacks Investment Research
The AES Corp. (NYSE:AES) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Wednesday.
According to Zacks, “AES Corp.’s third-quarter 2016 earnings and revenues missed the respective Zacks Consensus Estimate. On a brighter note, revenues, inched up from the year-ago figure. Also the company’s cash balance at the end of the quarter was higher than the 2015-end level. However, earnings declined year over year. That said, AES Corp. continues to streamline its portfolio through asset divestments and by exiting markets and businesses where it does not have or cannot develop a competitive advantage. In Oct 2016, AES Corp. closed the sale of AES Sul, its Brazilian, from which it expects to gain net proceeds of $440 million. On the flip side, the company continues to face unfavorable economic conditions at its Brazilian SBUs. Moreover, commodity price volatility, stringent environmental regulations, and political and operational risks continue to pose as headwinds.”
A number of other equities research analysts have also weighed in on AES. TheStreet lowered shares of The AES Corp. from a “buy” rating to a “hold” rating in a report on Friday, August 5th. Barclays PLC lowered shares of The AES Corp. from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $14.00 to $12.00 in a report on Tuesday, October 4th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $12.50.
The AES Corp. (NYSE:AES) opened at 11.43 on Wednesday. The stock has a 50 day moving average of $11.90 and a 200 day moving average of $11.95. The company’s market cap is $7.53 billion. The AES Corp. has a 52 week low of $8.22 and a 52 week high of $13.32.
The AES Corp. (NYSE:AES) last announced its quarterly earnings data on Friday, November 4th. The company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by $0.01. The AES Corp. had a negative net margin of 1.95% and a positive return on equity of 14.01%. The company had revenue of $209.90 billion for the quarter, compared to the consensus estimate of $3.15 billion. During the same quarter in the previous year, the business earned $0.39 EPS. The company’s quarterly revenue was up .6% compared to the same quarter last year. On average, analysts expect that The AES Corp. will post $0.99 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 15th. Shareholders of record on Tuesday, November 1st were given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 3.85%. The ex-dividend date was Friday, October 28th. The AES Corp.’s dividend payout ratio (DPR) is -107.31%.
A number of hedge funds and other institutional investors have recently bought and sold shares of AES. Capital International Investors increased its position in The AES Corp. by 18.6% in the second quarter. Capital International Investors now owns 17,793,786 shares of the company’s stock worth $222,066,000 after buying an additional 2,788,267 shares during the period. Emerald Acquisition Ltd. purchased a new position in shares of The AES Corp. during the second quarter worth about $27,018,000. Symons Capital Management Inc. purchased a new position in shares of The AES Corp. during the second quarter worth about $15,956,000. Herndon Capital Management LLC increased its position in shares of The AES Corp. by 11.9% in the second quarter. Herndon Capital Management LLC now owns 8,352,280 shares of the company’s stock worth $104,232,000 after buying an additional 886,881 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec increased its position in shares of The AES Corp. by 184.7% in the second quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,020,799 shares of the company’s stock worth $12,740,000 after buying an additional 662,196 shares during the last quarter. 95.27% of the stock is currently owned by institutional investors and hedge funds.
About The AES Corp.
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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