AES (NYSE:AES – Get Rating) issued an update on its FY 2022 earnings guidance on Friday morning. 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 -.
Wall Street Analysts Forecast Growth
A number of research firms have recently commented on AES. Morgan Stanley increased their target price on AES from $29.50 to $32.00 and gave the stock an overweight rating in a research note on Thursday, August 18th. Susquehanna decreased their target price on shares of AES from $32.00 to $30.00 in a report on Tuesday, May 10th. Finally, Susquehanna Bancshares cut their price target on shares of AES from $32.00 to $30.00 in a report on Tuesday, May 10th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus target price of $29.00.
AES Stock Up 1.6 %
AES opened at $25.85 on Friday. AES has a twelve month low of $18.62 and a twelve month high of $26.52. The company has a quick ratio of 1.01, a current ratio of 1.16 and a debt-to-equity ratio of 4.78. The firm has a 50 day moving average price of $22.70 and a 200-day moving average price of $22.32. The stock has a market capitalization of $17.27 billion, a price-to-earnings ratio of -44.57, a PEG ratio of 1.93 and a beta of 0.97.
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AES (NYSE:AES – Get Rating) last released its quarterly earnings results on Friday, August 5th. The utilities provider reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.03. AES had a positive return on equity of 32.93% and a negative net margin of 2.64%. The firm had revenue of $3.08 billion for the quarter, compared to analysts’ expectations of $2.47 billion. During the same period in the prior year, the firm earned $0.31 EPS. The company’s revenue was up 14.0% compared to the same quarter last year. Equities research analysts forecast that AES will post 1.61 earnings per share for the current year.
AES Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Monday, August 15th. Stockholders of record on Monday, August 1st were given a dividend of $0.158 per share. This represents a $0.63 annualized dividend and a dividend yield of 2.44%. The ex-dividend date was Friday, July 29th. AES’s payout ratio is currently -108.62%.
Institutional Trading of AES
Several large investors have recently added to or reduced their stakes in AES. Parkside Financial Bank & Trust boosted its stake in shares of AES by 285.6% during the 1st quarter. Parkside Financial Bank & Trust now owns 2,402 shares of the utilities provider’s stock worth $62,000 after acquiring an additional 1,779 shares during the last quarter. Covestor Ltd grew its holdings in AES by 1,223.9% during the first quarter. Covestor Ltd now owns 5,428 shares of the utilities provider’s stock valued at $140,000 after purchasing an additional 5,018 shares during the period. Atria Wealth Solutions Inc. purchased a new stake in AES in the first quarter worth about $225,000. Centiva Capital LP raised its stake in shares of AES by 35.3% in the second quarter. Centiva Capital LP now owns 18,166 shares of the utilities provider’s stock worth $382,000 after buying an additional 4,743 shares during the period. Finally, Creative Planning lifted its position in shares of AES by 51.4% during the 2nd quarter. Creative Planning now owns 22,844 shares of the utilities provider’s stock valued at $480,000 after buying an additional 7,753 shares in the last quarter. 95.25% of the stock is currently owned by institutional investors.
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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