Zacks Research Has Positive Forecast for AES FY2024 Earnings

The AES Co. (NYSE:AES) – Analysts at Zacks Research upped their FY2024 EPS estimates for shares of AES in a research note issued to investors on Monday, December 23rd. Zacks Research analyst R. Department now anticipates that the utilities provider will post earnings per share of $1.95 for the year, up from their prior forecast of $1.94. The consensus estimate for AES’s current full-year earnings is $1.95 per share. Zacks Research also issued estimates for AES’s Q4 2024 earnings at $0.36 EPS, Q1 2025 earnings at $0.41 EPS, Q2 2025 earnings at $0.43 EPS, Q3 2025 earnings at $0.61 EPS, Q4 2025 earnings at $0.59 EPS and FY2025 earnings at $2.04 EPS.

Several other analysts also recently commented on the stock. HSBC started coverage on shares of AES in a research report on Friday, December 13th. They set a “buy” rating and a $17.00 price objective on the stock. Evercore ISI raised shares of AES to a “strong-buy” rating in a research report on Wednesday, September 18th. Susquehanna lowered their price objective on AES from $24.00 to $21.00 and set a “positive” rating on the stock in a research report on Tuesday, November 5th. Jefferies Financial Group started coverage on AES in a report on Wednesday, September 11th. They issued a “buy” rating and a $20.00 target price for the company. Finally, Mizuho lowered their price target on AES from $24.00 to $16.00 and set an “outperform” rating on the stock in a report on Thursday, November 21st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $19.30.

AES Trading Down 1.4 %

NYSE AES opened at $12.84 on Wednesday. The stock’s fifty day moving average price is $14.13 and its 200-day moving average price is $16.65. The company has a current ratio of 0.85, a quick ratio of 0.80 and a debt-to-equity ratio of 3.21. The stock has a market cap of $9.13 billion, a P/E ratio of 8.92, a P/E/G ratio of 0.71 and a beta of 1.02. AES has a 12 month low of $12.24 and a 12 month high of $22.21.

AES (NYSE:AES) last issued its quarterly earnings results on Thursday, October 31st. The utilities provider reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.11. AES had a return on equity of 27.30% and a net margin of 8.34%. The firm had revenue of $3.29 billion for the quarter, compared to analysts’ expectations of $3.46 billion. During the same period in the previous year, the firm posted $0.60 EPS. The business’s revenue for the quarter was down 4.2% compared to the same quarter last year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. DekaBank Deutsche Girozentrale lifted its position in AES by 161.8% during the second quarter. DekaBank Deutsche Girozentrale now owns 107,016 shares of the utilities provider’s stock valued at $2,035,000 after purchasing an additional 66,145 shares in the last quarter. Rock Point Advisors LLC raised its stake in shares of AES by 34.6% in the third quarter. Rock Point Advisors LLC now owns 760,775 shares of the utilities provider’s stock worth $15,261,000 after buying an additional 195,460 shares during the period. M&G PLC lifted its position in shares of AES by 12.7% during the 3rd quarter. M&G PLC now owns 6,511,760 shares of the utilities provider’s stock valued at $130,235,000 after buying an additional 732,457 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of AES by 28.4% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 257,368 shares of the utilities provider’s stock valued at $5,163,000 after acquiring an additional 56,879 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in AES by 1.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,694,239 shares of the utilities provider’s stock worth $134,286,000 after acquiring an additional 82,956 shares in the last quarter. Hedge funds and other institutional investors own 93.13% of the company’s stock.

AES Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be issued a $0.176 dividend. This is an increase from AES’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Friday, January 31st. This represents a $0.70 dividend on an annualized basis and a dividend yield of 5.48%. AES’s dividend payout ratio (DPR) is presently 48.61%.

AES Company Profile

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.