AES (NYSE:AES) Releases FY24 Earnings Guidance

AES (NYSE:AES) updated its FY24 earnings guidance on Thursday. The company provided earnings per share guidance of $1.87-$1.97 for the period, compared to the consensus earnings per share estimate of $1.91. AES also updated its FY 2024 guidance to 1.920-1.970 EPS.

Wall Street Analyst Weigh In

AES has been the topic of a number of research analyst reports. UBS Group reduced their price objective on shares of AES from $20.00 to $19.00 and set a neutral rating on the stock in a research report on Wednesday, April 3rd. Mizuho upped their target price on shares of AES from $21.00 to $24.00 and gave the company a buy rating in a research note on Friday, May 17th. Barclays reduced their price target on shares of AES from $23.00 to $22.00 and set an overweight rating for the company in a research report on Monday, July 22nd. Seaport Res Ptn lowered shares of AES from a strong-buy rating to a hold rating in a research report on Tuesday, May 21st. Finally, Royal Bank of Canada reissued an outperform rating and issued a $22.00 target price on shares of AES in a report on Tuesday, April 9th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average price target of $22.75.

AES Stock Up 0.7 %

Shares of AES stock traded up $0.12 during trading hours on Thursday, reaching $17.91. 9,610,771 shares of the company’s stock were exchanged, compared to its average volume of 8,175,154. The stock’s fifty day moving average price is $18.84 and its two-hundred day moving average price is $17.81. The stock has a market cap of $12.73 billion, a PE ratio of 24.60 and a beta of 1.08. AES has a 1 year low of $11.43 and a 1 year high of $22.21. 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 (NYSE:AES) last released its quarterly earnings data on Friday, May 3rd. The utilities provider reported $0.50 EPS for the quarter, topping the consensus estimate of $0.34 by $0.16. The business had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.20 billion. AES had a return on equity of 36.23% and a net margin of 4.40%. The business’s quarterly revenue was down 4.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.22 EPS. Research analysts predict that AES will post 1.91 EPS for the current year.

AES Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Thursday, August 1st will be paid a $0.1725 dividend. This represents a $0.69 annualized dividend and a yield of 3.85%. The ex-dividend date is Thursday, August 1st. AES’s dividend payout ratio is currently 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.