AES (NYSE:AES) Announces Earnings Results

AES (NYSE:AES) posted its quarterly earnings results on Friday. The utilities provider reported $0.50 EPS for the quarter, beating the consensus estimate of $0.34 by $0.16, Yahoo Finance reports. The business had revenue of $3.09 billion for the quarter, compared to analysts’ expectations of $3.20 billion. AES had a net margin of 4.40% and a return on equity of 36.23%. AES’s revenue was down 4.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.22 EPS. AES updated its FY 2024 guidance to 1.870-1.970 EPS.

AES Stock Up 1.3 %

Shares of NYSE AES traded up $0.24 during midday trading on Monday, hitting $18.91. The stock had a trading volume of 3,147,004 shares, compared to its average volume of 8,254,298. The company has a quick ratio of 0.71, a current ratio of 0.78 and a debt-to-equity ratio of 4.04. The company has a market cap of $13.44 billion, a P/E ratio of 25.93 and a beta of 1.08. The business’s 50 day moving average is $16.73 and its 200-day moving average is $17.02. AES has a 52 week low of $11.43 and a 52 week high of $23.07.

AES Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be paid a $0.1725 dividend. The ex-dividend date of this dividend is Tuesday, April 30th. This represents a $0.69 annualized dividend and a yield of 3.65%. AES’s payout ratio is 95.83%.

Wall Street Analysts Forecast Growth

AES has been the topic of a number of recent research reports. Mizuho started coverage on AES in a research report on Thursday, April 18th. They set a “buy” rating and a $21.00 target price on the stock. Morgan Stanley reaffirmed an “overweight” rating and issued a $25.00 price target on shares of AES in a research note on Monday, March 25th. Argus reaffirmed a “buy” rating and issued a $25.00 price objective on shares of AES in a research report on Tuesday, March 26th. Barclays dropped their target price on AES from $21.00 to $20.00 and set an “overweight” rating on the stock in a report on Thursday, March 14th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $22.00 target price on shares of AES in a report on Tuesday, April 9th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $22.13.

AES Company Profile

The AES Corporation, together with its subsidiaries, operates as a diversified power generation and utility company in the United States and internationally. The company owns and/or operates power plants to generate and sell power to customers, such as utilities, industrial users, and other intermediaries; owns and/or operates utilities to generate or purchase, distribute, transmit, and sell electricity to end-user customers in the residential, commercial, industrial, and governmental sectors; and generates and sells electricity on the wholesale market.