Seaport Res Ptn Brokers Increase Earnings Estimates for AES

The AES Co. (NYSE:AES) – Seaport Res Ptn lifted their FY2024 EPS estimates for AES in a research report issued on Tuesday, October 22nd. Seaport Res Ptn analyst A. Storozynski now anticipates that the utilities provider will earn $1.94 per share for the year, up from their previous estimate 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.

Other equities research analysts have also issued research reports about the company. Barclays lifted their price objective on AES from $22.00 to $23.00 and gave the stock an “overweight” rating in a report on Monday. Evercore ISI raised shares of AES to a “strong-buy” rating in a research report on Wednesday, September 18th. Finally, Jefferies Financial Group started coverage on shares of AES in a report on Wednesday, September 11th. They issued a “buy” rating and a $20.00 price objective for the company. One analyst has rated the stock with a sell rating, two have assigned 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, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.57.

AES Stock Performance

NYSE:AES opened at $17.08 on Wednesday. AES has a 1 year low of $14.15 and a 1 year high of $22.21. The company has a debt-to-equity ratio of 3.63, a current ratio of 0.97 and a quick ratio of 0.91. The business has a fifty day simple moving average of $18.00 and a two-hundred day simple moving average of $18.33. The company has a market capitalization of $12.14 billion, a P/E ratio of 23.72 and a beta of 1.07.

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

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in AES. Capital International Investors grew its position in AES by 11.4% during the first quarter. Capital International Investors now owns 77,641,395 shares of the utilities provider’s stock worth $1,392,110,000 after buying an additional 7,969,594 shares in the last quarter. M&G Plc purchased a new position in shares of AES during the first quarter worth about $123,272,000. Vanguard Group Inc. raised its stake in AES by 2.2% in the first quarter. Vanguard Group Inc. now owns 89,725,232 shares of the utilities provider’s stock valued at $1,608,773,000 after purchasing an additional 1,929,523 shares in the last quarter. Zurich Insurance Group Ltd FI bought a new stake in AES during the second quarter valued at approximately $30,746,000. Finally, Zimmer Partners LP grew its stake in AES by 482.8% in the 1st quarter. Zimmer Partners LP now owns 1,865,000 shares of the utilities provider’s stock worth $33,439,000 after buying an additional 1,545,000 shares in the last quarter. Institutional investors own 93.13% of the company’s stock.

AES Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be issued a $0.1725 dividend. This represents a $0.69 annualized dividend and a yield of 4.04%. The ex-dividend date is Friday, November 1st. AES’s payout ratio is 95.83%.

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.