AES (NYSE:AES) Announces Quarterly Earnings Results, Beats Estimates By $0.06 EPS

AES (NYSE:AESGet Free Report) announced its quarterly earnings results on Tuesday. The utilities provider reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.06, Briefing.com reports. The business had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $3.36 billion. AES had a net margin of 2.12% and a return on equity of 38.76%. The firm’s revenue for the quarter was down 3.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.49 EPS. AES updated its FY 2024 guidance to 1.870-1.970 EPS.

AES Stock Performance

Shares of NYSE:AES traded up $0.40 during trading on Thursday, hitting $15.46. The company’s stock had a trading volume of 224,824 shares, compared to its average volume of 6,361,733. The company has a 50-day moving average of $17.51 and a 200-day moving average of $16.83. AES has a 12 month low of $11.43 and a 12 month high of $25.74. The company has a debt-to-equity ratio of 4.42, a current ratio of 0.68 and a quick ratio of 0.74. The firm has a market cap of $10.98 billion, a price-to-earnings ratio of 45.64, a P/E/G ratio of 0.90 and a beta of 1.10.

AES Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be paid a dividend of $0.1725 per share. This represents a $0.69 annualized dividend and a yield of 4.46%. The ex-dividend date is Tuesday, April 30th. AES’s dividend payout ratio is currently 209.10%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on AES. Morgan Stanley raised their target price on shares of AES from $24.00 to $25.00 and gave the company an “overweight” rating in a research note on Wednesday. StockNews.com raised shares of AES to a “sell” rating in a research note on Friday, November 3rd. Finally, Barclays upped their price target on shares of AES from $18.00 to $21.00 and gave the stock an “overweight” rating in a research note on Monday, January 22nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $21.17.

Read Our Latest Stock Report on AES

Insiders Place Their Bets

In other AES news, EVP Tish Mendoza sold 21,594 shares of the stock in a transaction that occurred on Wednesday, December 13th. The shares were sold at an average price of $18.95, for a total transaction of $409,206.30. Following the completion of the sale, the executive vice president now directly owns 167,261 shares of the company’s stock, valued at approximately $3,169,595.95. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.01% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Coppell Advisory Solutions Corp. bought a new stake in AES in the fourth quarter worth $27,000. Gyon Technologies Capital Management LP bought a new stake in shares of AES in the fourth quarter valued at about $32,000. Resurgent Financial Advisors LLC bought a new stake in shares of AES in the fourth quarter valued at about $34,000. Nelson Van Denburg & Campbell Wealth Management Group LLC grew its stake in AES by 5,681.8% in the fourth quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 1,272 shares of the utilities provider’s stock valued at $37,000 after purchasing an additional 1,250 shares during the last quarter. Finally, Stonebridge Capital Advisors LLC grew its stake in AES by 3,172.5% in the fourth quarter. Stonebridge Capital Advisors LLC now owns 1,309 shares of the utilities provider’s stock valued at $38,000 after purchasing an additional 1,269 shares during the last quarter. 94.49% of the stock is owned by hedge funds and other institutional investors.

AES Company Profile

(Get Free Report)

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.

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Earnings History for AES (NYSE:AES)

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