Zacks Research Has Bullish Estimate for AES FY2024 Earnings

The AES Co. (NYSE:AES) – Equities researchers at Zacks Research raised their FY2024 EPS estimates for shares of AES in a research report issued to clients and investors on Thursday, November 21st. Zacks Research analyst R. Department now anticipates that the utilities provider will post earnings of $1.93 per share for the year, up from their previous estimate of $1.90. The consensus estimate for AES’s current full-year earnings is $1.93 per share. Zacks Research also issued estimates for AES’s Q4 2024 earnings at $0.34 EPS, Q2 2025 earnings at $0.38 EPS, Q3 2025 earnings at $0.70 EPS, FY2025 earnings at $1.98 EPS, Q1 2026 earnings at $0.49 EPS, Q2 2026 earnings at $0.51 EPS and Q3 2026 earnings at $0.73 EPS.

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 company had revenue of $3.29 billion for the quarter, compared to analyst estimates of $3.46 billion. AES had a net margin of 8.34% and a return on equity of 27.30%. AES’s revenue was down 4.2% compared to the same quarter last year. During the same period last year, the company posted $0.60 earnings per share.

A number of other analysts have also recently weighed in on AES. Barclays raised their price target on shares of AES from $22.00 to $23.00 and gave the company an “overweight” rating in a report on Monday, October 21st. 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 target on the stock. Evercore ISI upgraded AES to a “strong-buy” rating in a report on Wednesday, September 18th. Susquehanna dropped their target price on AES from $24.00 to $21.00 and set a “positive” rating on the stock in a research note on Tuesday, November 5th. Finally, Mizuho lowered their price target on AES from $24.00 to $16.00 and set an “outperform” rating for the company in a report on Thursday. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, AES currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.38.

AES Price Performance

Shares of AES stock opened at $13.04 on Monday. The company has a market cap of $9.27 billion, a P/E ratio of 9.06 and a beta of 1.10. 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 stock’s 50-day moving average is $16.85 and its 200 day moving average is $17.89. AES has a 1-year low of $12.97 and a 1-year high of $22.21.

Institutional Trading of AES

Several institutional investors and hedge funds have recently bought and sold shares of the business. Millburn Ridgefield Corp purchased a new position in shares of AES during the third quarter worth $28,000. Rise Advisors LLC lifted its holdings in shares of AES by 92.4% in the 2nd quarter. Rise Advisors LLC now owns 1,499 shares of the utilities provider’s stock valued at $26,000 after buying an additional 720 shares during the period. Rothschild Investment LLC purchased a new stake in shares of AES in the second quarter worth about $28,000. Cromwell Holdings LLC grew its holdings 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 acquiring an additional 640 shares during the period. Finally, UMB Bank n.a. raised its position in AES by 102.3% during the second quarter. UMB Bank n.a. now owns 1,776 shares of the utilities provider’s stock valued at $31,000 after acquiring an additional 898 shares in the last quarter. 93.13% of the stock is currently owned by institutional investors and hedge funds.

AES Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 1st were paid a $0.1725 dividend. This represents a $0.69 annualized dividend and a dividend yield of 5.29%. The ex-dividend date of this dividend was Friday, November 1st. AES’s payout ratio is 47.92%.

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.