The AES Corporation (AES) Stock Rating Upgraded by Zacks Investment Research
The AES Corporation (NYSE:AES) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Thursday. The brokerage currently has a $13.00 target price on the utilities provider’s stock. Zacks Investment Research‘s price target indicates a potential upside of 13.74% from the stock’s current price.
According to Zacks, “AES Corp. reported better-than-expected results on both top and bottom line fronts in the second quarter of 2017. Results were impressive year over year as well. 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. The company’s strategy of reducing complexity through withdrawal of operations in the risk markets is appreciable. Further, its efforts to expand the generation business and renewable assets could drive growth going forward. The company also holds a strong liquidity position, which allowed management to make a promise of 10% growth in dividend, every year. However, commodity price volatility, stringent environmental regulations, and political and operational risks continue to pose challenges for the stock.”
Several other equities analysts have also commented on AES. BidaskClub raised The AES Corporation from a “strong sell” rating to a “sell” rating in a report on Wednesday. ValuEngine lowered The AES Corporation from a “buy” rating to a “hold” rating in a report on Friday, June 30th. Finally, Morgan Stanley reaffirmed an “equal weight” rating on shares of The AES Corporation in a report on Monday, July 10th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company’s stock. The AES Corporation currently has an average rating of “Hold” and a consensus target price of $12.00.
The AES Corporation (NYSE:AES) opened at 11.43 on Thursday. The firm’s market capitalization is $7.55 billion. The firm has a 50-day moving average price of $11.17 and a 200-day moving average price of $11.36. The AES Corporation has a one year low of $10.60 and a one year high of $13.32.
The AES Corporation (NYSE:AES) last posted its earnings results on Tuesday, August 8th. The utilities provider reported $0.25 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.04. The company had revenue of $3.47 billion during the quarter, compared to analyst estimates of $2.97 billion. The AES Corporation had a positive return on equity of 15.86% and a negative net margin of 5.30%. The business’s revenue was up 7.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.17 earnings per share. Equities analysts anticipate that The AES Corporation will post $1.05 earnings per share for the current year.
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Institutional investors have recently modified their holdings of the company. James Investment Research Inc. raised its position in shares of The AES Corporation by 56.5% in the first quarter. James Investment Research Inc. now owns 47,895 shares of the utilities provider’s stock worth $535,000 after buying an additional 17,295 shares during the period. Candriam Luxembourg S.C.A. raised its position in shares of The AES Corporation by 42.3% in the first quarter. Candriam Luxembourg S.C.A. now owns 51,639 shares of the utilities provider’s stock worth $577,000 after buying an additional 15,342 shares during the last quarter. Nationwide Fund Advisors raised its position in shares of The AES Corporation by 16.4% in the first quarter. Nationwide Fund Advisors now owns 1,050,191 shares of the utilities provider’s stock worth $11,741,000 after buying an additional 148,034 shares during the last quarter. Mn Services Vermogensbeheer B.V. raised its position in shares of The AES Corporation by 3.9% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 17,580 shares of the utilities provider’s stock worth $184,000 after buying an additional 659 shares during the last quarter. Finally, Northpointe Capital LLC purchased a new position in shares of The AES Corporation during the first quarter worth about $3,246,000. 93.49% of the stock is owned by institutional investors and hedge funds.
About The AES Corporation
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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