AES (NYSE:AES) Issues Earnings Results, Beats Estimates By $0.11 EPS

AES (NYSE:AES) issued its quarterly earnings data on Thursday. The utilities provider reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.11, Briefing.com reports. AES had a return on equity of 32.74% and a net margin of 6.07%. The business had revenue of $3.29 billion during the quarter, compared to analyst estimates of $3.46 billion. During the same period in the prior year, the company posted $0.60 EPS. The business’s revenue for the quarter was down 4.2% compared to the same quarter last year. AES updated its FY24 guidance to $1.87-$1.97 EPS and its FY 2024 guidance to 1.870-1.970 EPS.

AES Stock Down 9.6 %

Shares of AES traded down $1.59 during mid-day trading on Friday, reaching $14.90. The company’s stock had a trading volume of 15,909,962 shares, compared to its average volume of 8,218,386. The business has a fifty day moving average of $17.94 and a 200 day moving average of $18.29. The company has a market cap of $10.59 billion, a price-to-earnings ratio of 10.61 and a beta of 1.07. AES has a 1 year low of $14.69 and a 1 year high of $22.21. The company has a quick ratio of 0.91, a current ratio of 0.97 and a debt-to-equity ratio of 3.63.

AES Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be issued a $0.1725 dividend. The ex-dividend date is Friday, November 1st. This represents a $0.69 dividend on an annualized basis and a dividend yield of 4.63%. AES’s payout ratio is currently 47.92%.

Analyst Ratings Changes

AES has been the subject of a number of research analyst reports. Evercore ISI upgraded AES to a “strong-buy” rating in a research report on Wednesday, September 18th. Barclays increased their price objective on AES from $22.00 to $23.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. Finally, Jefferies Financial Group initiated coverage on AES in a research report on Wednesday, September 11th. They set a “buy” rating and a $20.00 price objective for the company. One analyst has rated the stock with a sell rating, two have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $22.57.

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.