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

AES (NYSE:AESGet Free Report) issued its quarterly earnings data on Tuesday. The utilities provider reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.06, Briefing.com reports. AES had a net margin of 2.12% and a return on equity of 38.76%. The firm had revenue of $2.97 billion for the quarter, compared to analyst estimates of $3.36 billion. During the same quarter in the prior year, the firm earned $0.49 EPS. The company’s revenue was down 3.0% on a year-over-year basis. AES updated its FY 2024 guidance to 1.870-1.970 EPS.

AES Stock Down 0.3 %

Shares of NYSE:AES opened at $15.06 on Thursday. AES has a 52-week low of $11.43 and a 52-week high of $25.74. The firm has a market capitalization of $10.70 billion, a P/E ratio of 45.64, a P/E/G ratio of 0.90 and a beta of 1.10. The stock has a 50 day moving average price of $17.51 and a 200-day moving average price of $16.83. The company has a debt-to-equity ratio of 4.42, a quick ratio of 0.74 and a current ratio of 0.68.

AES Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be given a dividend of $0.1725 per share. This represents a $0.69 dividend on an annualized basis and a yield of 4.58%. The ex-dividend date of this dividend is Tuesday, April 30th. AES’s payout ratio is 209.10%.

Insider Transactions at AES

In other AES news, EVP Tish Mendoza sold 21,594 shares of the stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $18.95, for a total transaction of $409,206.30. Following the sale, the executive vice president now directly owns 167,261 shares in the company, valued at approximately $3,169,595.95. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.01% of the company’s stock.

Hedge Funds Weigh In On AES

Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in AES by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 83,790,219 shares of the utilities provider’s stock worth $2,155,923,000 after purchasing an additional 1,285,423 shares during the period. State Street Corp raised its holdings in AES by 0.3% in the 1st quarter. State Street Corp now owns 33,324,327 shares of the utilities provider’s stock worth $857,435,000 after purchasing an additional 102,389 shares during the period. Geode Capital Management LLC raised its holdings in AES by 2.1% in the 1st quarter. Geode Capital Management LLC now owns 13,753,238 shares of the utilities provider’s stock worth $330,415,000 after purchasing an additional 283,075 shares during the period. Morgan Stanley raised its holdings in AES by 4.7% during the third quarter. Morgan Stanley now owns 13,555,375 shares of the utilities provider’s stock valued at $206,042,000 after acquiring an additional 606,786 shares during the period. Finally, Northern Trust Corp raised its holdings in AES by 5.6% during the first quarter. Northern Trust Corp now owns 7,126,418 shares of the utilities provider’s stock valued at $183,363,000 after acquiring an additional 381,037 shares during the period. 94.49% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

View Our Latest Research Report on AES

About AES

(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.

Further Reading

Earnings History for AES (NYSE:AES)

Receive News & Ratings for AES Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AES and related companies with MarketBeat.com's FREE daily email newsletter.