Seaport Res Ptn Comments on AES’s FY2024 Earnings (NYSE:AES)

The AES Co. (NYSE:AES) – Equities researchers at Seaport Res Ptn raised their FY2024 earnings per share (EPS) estimates for shares of AES in a research report issued on Tuesday, October 22nd. Seaport Res Ptn analyst A. Storozynski now expects that the utilities provider will post earnings of $1.94 per share for the year, up from their prior forecast of $1.92. The consensus estimate for AES’s current full-year earnings is $1.90 per share. Seaport Res Ptn also issued estimates for AES’s FY2025 earnings at $1.96 EPS, FY2026 earnings at $2.03 EPS and FY2027 earnings at $2.24 EPS.

AES (NYSE:AES) last announced its quarterly earnings data on Thursday, August 1st. The utilities provider reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.02. The company had revenue of $2.94 billion during the quarter, compared to analysts’ expectations of $3.22 billion. AES had a net margin of 6.07% and a return on equity of 32.74%. The firm’s revenue was down 2.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.21 EPS.

Several other equities analysts have also issued reports on the company. Barclays raised their price target on AES from $22.00 to $23.00 and gave the stock an “overweight” rating in a research report on Monday. Evercore ISI raised shares of AES to a “strong-buy” rating in a research note on Wednesday, September 18th. Finally, Jefferies Financial Group assumed coverage on shares of AES in a research report on Wednesday, September 11th. They set a “buy” rating and a $20.00 price target for the company. One research analyst has rated the stock with a sell rating, two have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $22.57.

AES Stock Up 0.5 %

AES opened at $17.08 on Wednesday. AES has a 12 month low of $14.15 and a 12 month high of $22.21. The company has a current ratio of 0.97, a quick ratio of 0.91 and a debt-to-equity ratio of 3.63. The business’s 50-day moving average price is $18.00 and its 200-day moving average price is $18.33. The company has a market cap of $12.14 billion, a P/E ratio of 23.72 and a beta of 1.07.

AES Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 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 4.04%. The ex-dividend date is Friday, November 1st. AES’s payout ratio is currently 95.83%.

Institutional Investors Weigh In On AES

Several institutional investors and hedge funds have recently modified their holdings of the stock. Rise Advisors LLC raised its stake in AES by 92.4% in the second quarter. Rise Advisors LLC now owns 1,499 shares of the utilities provider’s stock worth $26,000 after buying an additional 720 shares in the last quarter. Rothschild Investment LLC purchased a new position in shares of AES in the 2nd quarter valued at approximately $28,000. Cromwell Holdings LLC boosted its position in shares of AES by 59.1% during the third quarter. Cromwell Holdings LLC now owns 1,723 shares of the utilities provider’s stock valued at $35,000 after purchasing an additional 640 shares in the last quarter. UMB Bank n.a. raised its holdings in AES by 102.3% in the second quarter. UMB Bank n.a. now owns 1,776 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 898 shares in the last quarter. Finally, Riverview Trust Co purchased a new position in AES during the first quarter valued at $33,000. 93.13% of the stock is owned by hedge funds and other institutional investors.

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.