AES (AES) Set to Announce Quarterly Earnings on Thursday

AES (NYSE:AES) is scheduled to be announcing its earnings results after the market closes on Thursday, May 2nd. Analysts expect the company to announce earnings of $0.25 per share for the quarter. AES has set its FY 2024 guidance at 1.870-1.970 EPS.Persons that are interested in registering for the company’s earnings conference call can do so using this link.

AES (NYSE:AES) last issued its quarterly earnings results on Tuesday, February 27th. The utilities provider reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.06. AES had a net margin of 2.12% and a return on equity of 38.76%. The company had revenue of $2.97 billion for the quarter, compared to analyst estimates of $3.36 billion. During the same period in the prior year, the firm earned $0.49 earnings per share. The business’s revenue for the quarter was down 3.0% compared to the same quarter last year. On average, analysts expect AES to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

AES Stock Down 1.6 %

Shares of AES stock traded down $0.27 during trading hours on Thursday, reaching $17.10. 970,989 shares of the stock were exchanged, compared to its average volume of 8,243,291. The business’s fifty day moving average is $16.51 and its two-hundred day moving average is $16.77. The company has a debt-to-equity ratio of 4.42, a current ratio of 0.68 and a quick ratio of 0.61. AES has a 12-month low of $11.43 and a 12-month high of $23.81. The firm has a market capitalization of $12.15 billion, a P/E ratio of 51.70 and a beta of 1.08.

AES Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be paid a $0.1725 dividend. The ex-dividend date of this dividend is Tuesday, April 30th. This represents a $0.69 annualized dividend and a yield of 4.04%. AES’s dividend payout ratio is currently 209.10%.

Analyst Ratings Changes

Several brokerages have commented on AES. Argus reiterated a “buy” rating and issued a $25.00 price target on shares of AES in a research note on Tuesday, March 26th. UBS Group decreased their price objective on AES from $20.00 to $19.00 and set a “neutral” rating for the company in a report on Wednesday, April 3rd. Barclays decreased their price objective on AES from $21.00 to $20.00 and set an “overweight” rating for the company in a report on Thursday, March 14th. Royal Bank of Canada reissued an “outperform” rating and issued a $22.00 price objective on shares of AES in a report on Tuesday, April 9th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $25.00 price target on shares of AES in a report on Monday, March 25th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat, AES currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.13.

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.