AES (NYSE:AES) Announces Earnings Results, Beats Estimates By $0.02 EPS

AES (NYSE:AES) posted its quarterly earnings data on Thursday. The utilities provider reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.02, Briefing.com reports. AES had a return on equity of 36.23% and a net margin of 4.40%. The business had revenue of $2.94 billion for the quarter, compared to analysts’ expectations of $3.22 billion. During the same period in the previous year, the firm posted $0.21 EPS. The business’s revenue was down 2.8% on a year-over-year basis. AES updated its FY24 guidance to $1.87-$1.97 EPS and its FY 2024 guidance to 1.920-1.970 EPS.

AES Stock Down 4.4 %

AES stock traded down $0.78 during midday trading on Friday, hitting $17.13. The company’s stock had a trading volume of 10,469,079 shares, compared to its average volume of 8,191,967. The firm’s 50-day moving average is $18.71 and its 200-day moving average is $17.80. The company has a current ratio of 0.78, a quick ratio of 0.71 and a debt-to-equity ratio of 4.04. AES has a 12 month low of $11.43 and a 12 month high of $22.21. The company has a market cap of $12.17 billion, a PE ratio of 23.79 and a beta of 1.08.

AES Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Thursday, August 1st will be given a dividend of $0.1725 per share. This represents a $0.69 annualized dividend and a dividend yield of 4.03%. The ex-dividend date is Thursday, August 1st. AES’s dividend payout ratio (DPR) is currently 95.83%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $22.00 price objective on shares of AES in a report on Tuesday, April 9th. Seaport Res Ptn cut shares of AES from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 21st. Mizuho boosted their price objective on shares of AES from $21.00 to $24.00 and gave the stock a “buy” rating in a research note on Friday, May 17th. Finally, Barclays decreased their target price on shares of AES from $23.00 to $22.00 and set an “overweight” rating for the company in a research note on Monday, July 22nd. One investment 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. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $22.75.

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.