Zacks Research Has Optimistic Outlook of 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 note issued on Thursday, November 21st. Zacks Research analyst R. Department now forecasts that the utilities provider will post earnings per share of $1.93 for the year, up from their prior estimate of $1.90. The consensus estimate for AES’s current full-year earnings is $1.94 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.

Several other equities research analysts also recently issued reports on the stock. Bank of America began coverage on shares of AES in a research note on Monday. They issued an “underperform” rating and a $11.00 price objective on the stock. Jefferies Financial Group began coverage on shares of AES in a report on Wednesday, September 11th. They set a “buy” rating and a $20.00 price objective on the stock. Evercore ISI raised shares of AES to a “strong-buy” rating in a research report on Wednesday, September 18th. Barclays lifted their target price on AES from $22.00 to $23.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Finally, Mizuho cut their price target on AES from $24.00 to $16.00 and set an “outperform” rating for the company in a report on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have issued a buy rating and one has issued 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 price target of $20.22.

AES Stock Performance

Shares of NYSE AES opened at $13.16 on Monday. AES has a 12 month low of $12.97 and a 12 month high of $22.21. The company has a market cap of $9.36 billion, a P/E ratio of 9.14 and a beta of 1.10. The business’s 50 day moving average is $16.85 and its two-hundred day moving average is $17.89. The company has a quick ratio of 0.80, a current ratio of 0.85 and a debt-to-equity ratio of 3.21.

AES (NYSE:AES) last issued its quarterly earnings results 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. AES had a return on equity of 27.30% and a net margin of 8.34%. The company had revenue of $3.29 billion for the quarter, compared to the consensus estimate of $3.46 billion. During the same period last year, the business posted $0.60 earnings per share. The firm’s revenue was down 4.2% compared to the same quarter last year.

AES Dividend Announcement

The business 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. The ex-dividend date of this dividend was Friday, November 1st. This represents a $0.69 annualized dividend and a dividend yield of 5.24%. AES’s dividend payout ratio is currently 47.92%.

Hedge Funds Weigh In On AES

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Wilmington Savings Fund Society FSB acquired a new position in AES during the third quarter worth $139,000. Sanctuary Advisors LLC increased its position in shares of AES by 3.5% during the 3rd quarter. Sanctuary Advisors LLC now owns 34,067 shares of the utilities provider’s stock worth $683,000 after purchasing an additional 1,141 shares in the last quarter. Neo Ivy Capital Management acquired a new position in AES in the third quarter valued at about $204,000. Gould Capital LLC bought a new stake in AES during the third quarter worth about $3,402,000. Finally, Geode Capital Management LLC increased its holdings in shares of AES by 1.1% during the third quarter. Geode Capital Management LLC now owns 16,513,917 shares of the utilities provider’s stock worth $330,125,000 after buying an additional 181,975 shares in the last quarter. Institutional investors own 93.13% of the company’s stock.

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.