The AES Corporation (NYSE:AES) Releases Earnings Results
The AES Corporation (NYSE:AES) issued its earnings results on Tuesday. The utilities provider reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.04, Bloomberg Earnings reports. The AES Corporation had a positive return on equity of 15.86% and a negative net margin of 5.30%. The business had revenue of $3.47 billion during the quarter, compared to the consensus estimate of $2.97 billion. During the same period last year, the company earned $0.17 EPS. The company’s revenue for the quarter was up 7.5% on a year-over-year basis. The AES Corporation updated its FY17 guidance to $1.00-1.10 EPS.
Shares of The AES Corporation (NYSE AES) opened at 11.25 on Thursday. The firm has a 50 day moving average price of $11.19 and a 200-day moving average price of $11.37. The firm’s market capitalization is $7.43 billion. The AES Corporation has a 52 week low of $10.60 and a 52 week high of $13.32.
The business also recently announced a quarterly dividend, which will be paid on Thursday, August 17th. Shareholders of record on Thursday, August 3rd will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 4.27%. The ex-dividend date of this dividend is Tuesday, August 1st. The AES Corporation’s dividend payout ratio (DPR) is presently -42.10%.
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Institutional investors have recently added to or reduced their stakes in the company. Pinnacle Bank bought a new position in The AES Corporation during the first quarter worth $411,000. Jane Street Group LLC bought a new position in The AES Corporation during the first quarter worth $117,000. Ffcm LLC boosted its position in The AES Corporation by 171.8% in the second quarter. Ffcm LLC now owns 10,495 shares of the utilities provider’s stock worth $116,000 after buying an additional 6,634 shares during the period. IFP Advisors Inc boosted its position in The AES Corporation by 94.0% in the first quarter. IFP Advisors Inc now owns 11,329 shares of the utilities provider’s stock worth $127,000 after buying an additional 5,489 shares during the period. Finally, HRT Financial LLC bought a new position in The AES Corporation during the first quarter worth $132,000. 93.57% of the stock is owned by institutional investors.
A number of brokerages have issued reports on AES. BidaskClub raised The AES Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, June 14th. Zacks Investment Research raised The AES Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, May 2nd. ValuEngine raised The AES Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, July 25th. Finally, Morgan Stanley reaffirmed an “equal weight” rating on shares of The AES Corporation in a research note on Monday, July 10th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $11.75.
The AES Corporation 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. It is organized into six strategic business units (SBUs): the United States; Andes; Brazil; Mexico, Central America and the Caribbean (MCAC); Europe, and Asia.
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