What is Zacks Research’s Estimate for AES FY2024 Earnings?

The AES Co. (NYSE:AES) – Zacks Research raised their FY2024 earnings per share estimates for AES in a report issued on Thursday, January 9th. Zacks Research analyst R. Department now anticipates that the utilities provider will earn $1.96 per share for the year, up from their previous forecast of $1.95. 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 $0.37 EPS, Q2 2025 earnings at $0.44 EPS, Q4 2025 earnings at $0.60 EPS, Q3 2026 earnings at $0.70 EPS and Q4 2026 earnings at $0.35 EPS.

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

Several other research analysts have also commented on AES. Mizuho cut their price objective on AES from $24.00 to $16.00 and set an “outperform” rating for the company in a report on Thursday, November 21st. Evercore ISI upgraded shares of AES to a “strong-buy” rating in a research report on Wednesday, September 18th. Susquehanna cut their target price 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. Bank of America assumed coverage on AES in a research report on Monday, November 25th. They set an “underperform” rating and a $11.00 price target on the stock. Finally, Barclays cut their price objective on AES from $23.00 to $17.00 and set an “overweight” rating for the company in a report on Friday, December 13th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, AES has an average rating of “Moderate Buy” and an average target price of $19.30.

AES Trading Down 2.6 %

AES stock opened at $11.71 on Monday. AES has a fifty-two week low of $11.57 and a fifty-two week high of $22.21. The firm’s fifty day moving average price is $13.25 and its 200-day moving average price is $16.11. The company has a debt-to-equity ratio of 3.21, a quick ratio of 0.80 and a current ratio of 0.85. The stock has a market cap of $8.33 billion, a P/E ratio of 8.13, a PEG ratio of 0.71 and a beta of 1.00.

Institutional Investors Weigh In On AES

A number of large investors have recently added to or reduced their stakes in AES. State Street Corp lifted its holdings in AES by 18.2% in the 3rd 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 period. Zurich Insurance Group Ltd FI bought a new position in shares of AES during the second quarter valued at approximately $30,746,000. Assenagon Asset Management S.A. lifted its stake in AES by 169.5% in the third quarter. Assenagon Asset Management S.A. now owns 2,143,688 shares of the utilities provider’s stock worth $43,002,000 after acquiring an additional 1,348,195 shares during the period. Two Sigma Advisers LP boosted its holdings in AES by 30.3% in the third quarter. Two Sigma Advisers LP now owns 3,838,500 shares of the utilities provider’s stock valued at $77,000,000 after acquiring an additional 892,500 shares in the last quarter. Finally, Bridgewater Associates LP bought a new position in AES in the 3rd quarter worth $17,390,000. Institutional investors own 93.13% of the company’s stock.

AES Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be issued a dividend of $0.176 per share. This is a positive change from AES’s previous quarterly dividend of $0.17. This represents a $0.70 dividend on an annualized basis and a yield of 6.01%. The ex-dividend date is Friday, January 31st. AES’s dividend payout ratio is currently 48.61%.

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.