AES (NYSE:AES – Get Rating) updated its FY 2022 earnings guidance on Friday. The company provided earnings per share guidance of $1.55-$1.65 for the period, compared to the consensus earnings per share estimate of $1.60. The company issued revenue guidance of -. AES also updated its FY22 guidance to $1.55-1.65 EPS.
AES Trading Up 2.3 %
Shares of NYSE:AES traded up $0.52 during midday trading on Friday, hitting $23.52. 218,160 shares of the stock were exchanged, compared to its average volume of 4,851,724. The stock has a market capitalization of $15.71 billion, a price-to-earnings ratio of -88.22, a P/E/G ratio of 1.87 and a beta of 0.97. The company has a debt-to-equity ratio of 4.64, a quick ratio of 0.95 and a current ratio of 1.07. The business’s 50-day moving average price is $21.05 and its 200 day moving average price is $21.94. AES has a 12 month low of $18.62 and a 12 month high of $26.52.
AES (NYSE:AES – Get Rating) last released its quarterly earnings results on Thursday, May 5th. The utilities provider reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.02). AES had a positive return on equity of 33.02% and a negative net margin of 2.21%. The firm had revenue of $2.85 billion for the quarter, compared to the consensus estimate of $2.53 billion. During the same quarter last year, the firm posted $0.28 earnings per share. The business’s revenue for the quarter was up 8.2% on a year-over-year basis. Analysts predict that AES will post 1.6 earnings per share for the current year.
AES Announces Dividend
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The business also recently announced a quarterly dividend, which will be paid on Monday, August 15th. Investors of record on Monday, August 1st will be issued a $0.158 dividend. This represents a $0.63 annualized dividend and a yield of 2.69%. The ex-dividend date of this dividend is Friday, July 29th. AES’s payout ratio is presently -233.33%.
Wall Street Analysts Forecast Growth
Several brokerages have issued reports on AES. Susquehanna Bancshares dropped their price target on AES from $32.00 to $30.00 in a research note on Tuesday, May 10th. Credit Suisse Group initiated coverage on AES in a research note on Monday, April 25th. They issued a neutral rating and a $25.00 price target on the stock. Susquehanna lowered their target price on AES from $32.00 to $30.00 in a research report on Tuesday, May 10th. Finally, Morgan Stanley lowered their target price on AES from $29.00 to $28.50 and set an overweight rating on the stock in a research report on Thursday, June 23rd. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of $28.50.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the company. Eqis Capital Management Inc. boosted its stake in AES by 5.8% in the 1st quarter. Eqis Capital Management Inc. now owns 40,555 shares of the utilities provider’s stock worth $1,043,000 after purchasing an additional 2,224 shares during the period. Mariner LLC boosted its stake in AES by 194.5% in the 1st quarter. Mariner LLC now owns 38,088 shares of the utilities provider’s stock worth $980,000 after purchasing an additional 25,156 shares during the period. Point72 Hong Kong Ltd bought a new position in AES in the 1st quarter worth about $870,000. Toroso Investments LLC raised its holdings in shares of AES by 67.6% in the 1st quarter. Toroso Investments LLC now owns 29,474 shares of the utilities provider’s stock valued at $758,000 after acquiring an additional 11,885 shares in the last quarter. Finally, Sei Investments Co. raised its holdings in shares of AES by 98.1% in the 1st quarter. Sei Investments Co. now owns 25,525 shares of the utilities provider’s stock valued at $661,000 after acquiring an additional 12,643 shares in the last quarter. Institutional investors own 92.97% of the company’s stock.
About AES
The AES Corporation operates as a diversified power generation and utility company. It owns and/or operates power plants to generate and sell power to customers, such as utilities, industrial users, and other intermediaries. The company also 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.
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