Bank of America Corp. Lowers The AES Corp. (AES) to Underperform
The AES Corp. (NYSE:AES) was downgraded by research analysts at Bank of America Corp. from a “neutral” rating to an “underperform” rating in a research note issued to investors on Tuesday.
Other equities analysts have also recently issued research reports about the company. TheStreet cut The AES Corp. from a “buy” rating to a “hold” rating in a report on Friday, August 5th. Zacks Investment Research cut The AES Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, November 8th. Finally, Barclays PLC cut The AES Corp. from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $14.00 to $12.00 in a research note on Tuesday, October 4th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. The AES Corp. currently has an average rating of “Hold” and an average price target of $12.50.
The AES Corp. (NYSE:AES) opened at 11.55 on Tuesday. The AES Corp. has a 12-month low of $8.22 and a 12-month high of $13.32. The company’s market cap is $7.61 billion. The stock’s 50 day moving average price is $11.77 and its 200 day moving average price is $11.96.
The AES Corp. (NYSE:AES) last issued its earnings results on Friday, November 4th. The company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by $0.01. The AES Corp. had a positive return on equity of 14.01% and a negative net margin of 1.95%. The firm earned $209.90 billion during the quarter, compared to analyst estimates of $3.15 billion. During the same period in the previous year, the company earned $0.39 EPS. The AES Corp.’s revenue for the quarter was up .6% on a year-over-year basis. Equities research analysts anticipate that The AES Corp. will post $0.99 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 15th. Investors of record on Tuesday, November 1st were given a dividend of $0.11 per share. The ex-dividend date was Friday, October 28th. This represents a $0.44 annualized dividend and a dividend yield of 3.81%. The AES Corp.’s payout ratio is -107.31%.
Several large investors have recently made changes to their positions in the stock. Capital International Investors raised its position in shares of The AES Corp. by 18.6% in the second quarter. Capital International Investors now owns 17,793,786 shares of the company’s stock valued at $222,066,000 after buying an additional 2,788,267 shares during the last quarter. Emerald Acquisition Ltd. purchased a new position in shares of The AES Corp. during the second quarter valued at about $27,018,000. Symons Capital Management Inc. purchased a new position in shares of The AES Corp. during the second quarter valued at about $15,956,000. Herndon Capital Management LLC raised 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 valued at $104,232,000 after buying an additional 886,881 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec raised 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 valued at $12,740,000 after buying an additional 662,196 shares during the last quarter. Institutional investors own 95.13% of the company’s stock.
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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