AES (NYSE:AES) Updates FY 2024 Earnings Guidance

AES (NYSE:AES) updated its FY 2024 earnings guidance on Friday. 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 -.

Wall Street Analysts Forecast Growth

AES has been the subject of a number of recent research reports. Barclays cut their price objective on AES from $21.00 to $20.00 and set an overweight rating for the company in a research report on Thursday, March 14th. Morgan Stanley reissued an overweight rating and issued a $25.00 price target on shares of AES in a research note on Monday, March 25th. Argus restated a buy rating and issued a $25.00 price target on shares of AES in a research report on Tuesday, March 26th. UBS Group reduced their target price on AES from $20.00 to $19.00 and set a neutral rating for the company in a report on Wednesday, April 3rd. Finally, Mizuho initiated coverage on AES in a research report on Thursday, April 18th. They set a buy rating and a $21.00 price target on the stock. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus target price of $22.13.

AES Stock Performance

AES stock traded up $0.22 during mid-day trading on Monday, reaching $18.89. The company had a trading volume of 3,404,951 shares, compared to its average volume of 8,258,038. The company has a 50 day moving average of $16.73 and a 200-day moving average of $17.02. AES has a 52 week low of $11.43 and a 52 week high of $23.07. 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 firm has a market cap of $13.42 billion, a price-to-earnings ratio of 25.93 and a beta of 1.08.

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

AES Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be given a dividend of $0.1725 per share. The ex-dividend date is Tuesday, April 30th. This represents a $0.69 dividend on an annualized basis and a yield of 3.65%. AES’s dividend payout ratio (DPR) is presently 95.83%.

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.