AES (NYSE:AES) Updates FY 2024 Earnings Guidance

AES (NYSE:AES) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of 1.870-1.970 for the period, compared to the consensus estimate of 1.910. The company issued revenue guidance of -.

AES Price Performance

NYSE AES traded up $0.33 during trading hours on Monday, reaching $19.00. 4,020,750 shares of the stock traded hands, compared to its average volume of 8,263,625. The company has a market cap of $13.50 billion, a price-to-earnings ratio of 25.93 and a beta of 1.08. The stock has a 50 day simple moving average of $16.73 and a two-hundred day simple moving average of $17.02. The company has a debt-to-equity ratio of 4.04, a current ratio of 0.78 and a quick ratio of 0.71. AES has a 1 year low of $11.43 and a 1 year high of $23.07.

AES (NYSE:AES) last posted its earnings results on Friday, May 3rd. The utilities provider reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.16. AES had a net margin of 4.40% and a return on equity of 36.23%. The company had revenue of $3.09 billion during the quarter, compared to analyst estimates of $3.20 billion. During the same period in the prior year, the business posted $0.22 earnings per share. AES’s revenue for the quarter was down 4.8% on a year-over-year basis. On average, analysts predict that AES will post 1.91 EPS for the current fiscal year.

AES Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be issued a dividend of $0.1725 per share. This represents a $0.69 dividend on an annualized basis and a dividend yield of 3.63%. The ex-dividend date of this dividend is Tuesday, April 30th. AES’s payout ratio is 95.83%.

Analyst Ratings Changes

A number of research analysts recently commented on AES shares. Barclays lowered their price target on AES from $21.00 to $20.00 and set an overweight rating on the stock in a report on Thursday, March 14th. Argus reaffirmed a buy rating and set a $25.00 price target on shares of AES in a research note on Tuesday, March 26th. Mizuho assumed coverage on AES in a research report on Thursday, April 18th. They issued a buy rating and a $21.00 price target for the company. Morgan Stanley reiterated an overweight rating and issued a $25.00 target price on shares of AES in a research note on Monday, March 25th. Finally, UBS Group decreased their target price on shares of AES from $20.00 to $19.00 and set a neutral rating for the company in a research report on Wednesday, April 3rd. One analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $22.13.

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.