Equities Analysts Offer Predictions for AES FY2024 Earnings

The AES Co. (NYSE:AES) – Equities researchers at Zacks Research raised their FY2024 EPS estimates for AES in a report released on Monday, December 23rd. Zacks Research analyst R. Department now anticipates that the utilities provider will post earnings of $1.95 per share for the year, up from their prior 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.

A number of other equities analysts have also issued reports on the stock. Barclays reduced their target price on shares of AES from $23.00 to $17.00 and set an “overweight” rating on the stock in a research report on Friday, December 13th. Evercore ISI upgraded AES to a “strong-buy” rating in a research report on Wednesday, September 18th. Hsbc Global Res upgraded AES to a “strong-buy” rating in a research report on Friday, December 13th. Jefferies Financial Group assumed coverage on AES in a report on Wednesday, September 11th. They set a “buy” rating and a $20.00 price objective for the company. Finally, HSBC began coverage on shares of AES in a research note on Friday, December 13th. They issued a “buy” rating and a $17.00 target price on the stock. One research analyst has rated the stock with a sell rating, two have given a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $19.30.

AES Stock Down 0.3 %

Shares of NYSE AES opened at $13.02 on Wednesday. The company has a quick ratio of 0.80, a current ratio of 0.85 and a debt-to-equity ratio of 3.21. The company has a market cap of $9.26 billion, a price-to-earnings ratio of 9.04, a price-to-earnings-growth ratio of 0.71 and a beta of 1.02. AES has a 12-month low of $12.24 and a 12-month high of $22.21. The firm’s 50-day simple moving average is $14.21 and its 200 day simple moving average is $16.67.

AES (NYSE:AES) last issued its quarterly earnings data on Thursday, October 31st. The utilities provider reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.11. The firm had revenue of $3.29 billion during 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 business’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.60 EPS.

AES Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be issued a $0.176 dividend. This represents a $0.70 dividend on an annualized basis and a dividend yield of 5.41%. This is a positive change from AES’s previous quarterly dividend of $0.17. The ex-dividend date is Friday, January 31st. AES’s payout ratio is 48.61%.

Institutional Investors Weigh In On AES

Several institutional investors have recently bought and sold shares of the company. Principal Financial Group Inc. boosted its position in AES by 3.5% during the third quarter. Principal Financial Group Inc. now owns 830,873 shares of the utilities provider’s stock valued at $16,667,000 after purchasing an additional 28,043 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of AES by 12.8% during the 3rd quarter. Franklin Resources Inc. now owns 2,930,901 shares of the utilities provider’s stock worth $58,794,000 after purchasing an additional 333,154 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of AES in the 3rd quarter valued at approximately $139,000. Sanctuary Advisors LLC increased its holdings in AES by 3.5% during the third quarter. Sanctuary Advisors LLC now owns 34,067 shares of the utilities provider’s stock worth $683,000 after buying an additional 1,141 shares during the last quarter. Finally, Neo Ivy Capital Management bought a new stake in AES during the third quarter worth $204,000. Institutional investors own 93.13% of the company’s stock.

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.