AES (AES) Set to Announce Quarterly Earnings on Thursday

AES (NYSE:AES) will be announcing its earnings results after the market closes on Thursday, October 31st. Analysts expect the company to announce earnings of $0.60 per share for the quarter. AES has set its FY24 guidance at $1.87-$1.97 EPS and its FY 2024 guidance at 1.920-1.970 EPS.Investors that are interested in registering for the company’s conference call can do so using this link.

AES (NYSE:AES) last issued its quarterly earnings results on Thursday, August 1st. The utilities provider reported $0.38 EPS for the quarter, topping the consensus estimate of $0.36 by $0.02. The firm had revenue of $2.94 billion during the quarter, compared to analysts’ expectations of $3.22 billion. AES had a return on equity of 32.74% and a net margin of 6.07%. The firm’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.21 earnings per share. On average, analysts expect AES to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

AES Trading Up 0.5 %

Shares of AES stock opened at $17.08 on Thursday. AES has a fifty-two week low of $14.15 and a fifty-two week high of $22.21. The firm has a market capitalization of $12.14 billion, a P/E ratio of 23.72 and a beta of 1.07. The stock’s fifty day moving average is $18.00 and its two-hundred day moving average is $18.33. The company has a debt-to-equity ratio of 3.63, a quick ratio of 0.91 and a current ratio of 0.97.

AES Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 1st will be paid a dividend of $0.1725 per share. The ex-dividend date of this dividend is Friday, November 1st. This represents a $0.69 annualized dividend and a yield of 4.04%. AES’s dividend payout ratio is presently 95.83%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on AES. Barclays boosted their target price on AES from $22.00 to $23.00 and gave the stock an “overweight” rating in a report on Monday. Jefferies Financial Group assumed coverage on AES in a report on Wednesday, September 11th. They issued a “buy” rating and a $20.00 target price for the company. Finally, Evercore ISI upgraded AES to a “strong-buy” rating in a report on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, AES presently has an average rating of “Moderate Buy” and a consensus price target of $22.57.

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.