Susquehanna Issues Pessimistic Forecast for AES (NYSE:AES) Stock Price

AES (NYSE:AES) had its price target reduced by analysts at Susquehanna from $24.00 to $21.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm presently has a “positive” rating on the utilities provider’s stock. Susquehanna’s price objective would indicate a potential upside of 47.89% from the company’s current price.

AES has been the topic of a number of other reports. Evercore ISI upgraded AES to a “strong-buy” rating in a research note on Wednesday, September 18th. Barclays boosted their target price on shares of AES from $22.00 to $23.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Finally, Jefferies Financial Group began coverage on shares of AES in a research note on Wednesday, September 11th. They set a “buy” rating and a $20.00 price target for the company. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, AES has a consensus rating of “Moderate Buy” and an average target price of $22.38.

AES Stock Down 8.4 %

AES opened at $14.20 on Tuesday. AES has a fifty-two week low of $13.85 and a fifty-two week high of $22.21. The company has a debt-to-equity ratio of 3.21, a current ratio of 0.85 and a quick ratio of 0.80. The company’s 50-day moving average is $17.70 and its 200 day moving average is $18.26. The firm has a market capitalization of $10.10 billion, a P/E ratio of 9.86 and a beta of 1.10.

AES (NYSE:AES) last announced its earnings results on Thursday, October 31st. The utilities provider reported $0.71 earnings per share 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 return on equity of 27.30% and a net margin of 8.34%. The company’s revenue was down 4.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.60 EPS. Research analysts expect that AES will post 1.93 earnings per share for the current fiscal year.

Hedge Funds Weigh In On AES

A number of large investors have recently modified their holdings of AES. CWM LLC boosted its holdings in AES by 2.4% in the 2nd quarter. CWM LLC now owns 27,122 shares of the utilities provider’s stock valued at $477,000 after purchasing an additional 628 shares during the period. Cromwell Holdings LLC grew its position in AES by 59.1% during the third quarter. Cromwell Holdings LLC now owns 1,723 shares of the utilities provider’s stock worth $35,000 after buying an additional 640 shares in the last quarter. Raymond James Trust N.A. increased its stake in AES by 1.6% in the 2nd quarter. Raymond James Trust N.A. now owns 44,433 shares of the utilities provider’s stock worth $781,000 after acquiring an additional 711 shares during the last quarter. Rise Advisors LLC boosted its position in shares of AES by 92.4% during the 2nd quarter. Rise Advisors LLC now owns 1,499 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 720 shares during the last quarter. Finally, Empirical Finance LLC grew its holdings in shares of AES by 4.7% during the first quarter. Empirical Finance LLC now owns 18,185 shares of the utilities provider’s stock worth $326,000 after purchasing an additional 823 shares in the last quarter. 93.13% of the stock is currently owned by 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.