Research Analysts Offer Predictions for AES FY2024 Earnings

The AES Co. (NYSE:AES) – Research analysts at Zacks Research upped their FY2024 earnings per share estimates for shares of AES in a research note issued on Monday, December 23rd. Zacks Research analyst R. Department now forecasts that the utilities provider will earn $1.95 per share for the year, up from their previous estimate of $1.94. The consensus estimate for AES’s current full-year earnings is $1.95 per share. Zacks Research also issued estimates for AES’s Q4 2024 earnings at $0.36 EPS, Q1 2025 earnings at $0.41 EPS, Q2 2025 earnings at $0.43 EPS, Q3 2025 earnings at $0.61 EPS, Q4 2025 earnings at $0.59 EPS and FY2025 earnings at $2.04 EPS.

AES (NYSE:AES) last issued its earnings results on Thursday, October 31st. The utilities provider reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.11. AES had a net margin of 8.34% and a return on equity of 27.30%. The company had revenue of $3.29 billion for the quarter, compared to analysts’ expectations of $3.46 billion. During the same period in the prior year, the firm earned $0.60 EPS. AES’s quarterly revenue was down 4.2% compared to the same quarter last year.

Several other research firms also recently commented on AES. Mizuho decreased their price objective on shares of AES from $24.00 to $16.00 and set an “outperform” rating on the stock in a report on Thursday, November 21st. Evercore ISI upgraded shares of AES to a “strong-buy” rating in a research note on Wednesday, September 18th. Susquehanna cut their price objective on shares of AES from $24.00 to $21.00 and set a “positive” rating for the company in a research report on Tuesday, November 5th. HSBC initiated coverage on AES in a research report on Friday, December 13th. They issued a “buy” rating and a $17.00 target price on the stock. Finally, Barclays dropped their price target on AES from $23.00 to $17.00 and set an “overweight” rating for the company in a report on Friday, December 13th. One analyst has rated the stock with a sell rating, two have given a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $19.30.

AES Stock Down 0.3 %

AES stock opened at $13.02 on Wednesday. The business’s 50 day simple moving average is $14.31 and its 200 day simple moving average is $16.70. AES has a 1-year low of $12.24 and a 1-year high of $22.21. The firm has a market capitalization of $9.26 billion, a PE ratio of 9.04, a PEG ratio of 0.71 and a beta of 1.02. The company has a current ratio of 0.85, a quick ratio of 0.80 and a debt-to-equity ratio of 3.21.

Institutional Trading of AES

Several institutional investors and hedge funds have recently modified their holdings of the business. State Street Corp grew its stake in shares of AES by 18.2% during the third quarter. State Street Corp now owns 38,651,752 shares of the utilities provider’s stock worth $775,354,000 after buying an additional 5,960,546 shares during the last quarter. Geode Capital Management LLC grew its position in AES by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 16,513,917 shares of the utilities provider’s stock worth $330,125,000 after acquiring an additional 181,975 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in AES by 1.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 6,694,239 shares of the utilities provider’s stock valued at $134,286,000 after purchasing an additional 82,956 shares during the last quarter. M&G PLC boosted its stake in shares of AES by 12.7% during the third quarter. M&G PLC now owns 6,511,760 shares of the utilities provider’s stock valued at $130,235,000 after purchasing an additional 732,457 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of AES by 3.1% during the second quarter. Bank of New York Mellon Corp now owns 4,769,785 shares of the utilities provider’s stock worth $83,805,000 after purchasing an additional 141,565 shares during the last quarter. 93.13% of the stock is currently owned by institutional investors.

AES Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be paid a dividend of $0.176 per share. The ex-dividend date of this dividend is Friday, January 31st. This is a boost from AES’s previous quarterly dividend of $0.17. This represents a $0.70 annualized dividend and a yield of 5.41%. AES’s dividend payout ratio is presently 48.61%.

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.