AES (NYSE:AES) Releases FY 2024 Earnings Guidance

AES (NYSE:AES) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided earnings per share guidance of 1.870-1.970 for the period, compared to the consensus earnings per share estimate of 1.910. The company issued revenue guidance of -.

AES Stock Up 1.3 %

Shares of AES stock traded up $0.24 during trading hours on Monday, reaching $18.91. 2,928,978 shares of the company’s stock were exchanged, compared to its average volume of 8,253,093. The company has a 50 day moving average of $16.73 and a two-hundred day moving average of $17.02. AES has a fifty-two week low of $11.43 and a fifty-two week high of $23.07. The company has a current ratio of 0.78, a quick ratio of 0.71 and a debt-to-equity ratio of 4.04. The stock has a market cap of $13.44 billion, a P/E ratio of 25.93 and a beta of 1.08.

AES (NYSE:AES) last posted its quarterly earnings data on Friday, May 3rd. The utilities provider reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.16. AES had a net margin of 4.40% and a return on equity of 36.23%. The company had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.20 billion. During the same period in the prior year, the business posted $0.22 EPS. The company’s quarterly revenue was down 4.8% on a year-over-year basis. On average, sell-side analysts forecast that AES will post 1.91 EPS for the current fiscal year.

AES Announces Dividend

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

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Mizuho assumed coverage on shares of AES in a research report on Thursday, April 18th. They set a buy rating and a $21.00 price objective for the company. Morgan Stanley reiterated an overweight rating and issued a $25.00 price target on shares of AES in a research report on Monday, March 25th. Argus reiterated a buy rating and issued a $25.00 price target on shares of AES in a research report on Tuesday, March 26th. Royal Bank of Canada reiterated an outperform rating and issued a $22.00 price target on shares of AES in a research report on Tuesday, April 9th. Finally, Barclays dropped their price target on shares of AES from $21.00 to $20.00 and set an overweight rating for the company in a research report on Thursday, March 14th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, AES currently has an average rating of Moderate Buy and a consensus target price of $22.13.

About AES

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.