Zacks Research Comments on AES’s FY2024 Earnings (NYSE:AES)

The AES Co. (NYSE:AES) – Research analysts at Zacks Research raised their FY2024 earnings per share 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 previous estimate 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.

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. The business had revenue of $3.29 billion during the quarter, compared to analysts’ expectations of $3.46 billion. AES had a return on equity of 27.30% and a net margin of 8.34%. The firm’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.60 earnings per share.

Several other research firms have also issued reports on AES. Jefferies Financial Group began coverage on shares of AES in a research report on Wednesday, September 11th. They set a “buy” rating and a $20.00 price target on the stock. Barclays decreased their price target on AES from $23.00 to $17.00 and set an “overweight” rating on the stock in a research note on Friday, December 13th. Susquehanna dropped their price objective on AES from $24.00 to $21.00 and set a “positive” rating for the company in a research report on Tuesday, November 5th. Bank of America started coverage on AES in a research report on Monday, November 25th. They issued an “underperform” rating and a $11.00 target price on the stock. Finally, Mizuho dropped their target price on shares of AES from $24.00 to $16.00 and set an “outperform” rating for the company in a report on Thursday, November 21st. One research analyst has rated the stock with a sell rating, two have given a hold rating, eight have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, AES presently has an average rating of “Moderate Buy” and a consensus price target of $19.30.

AES Stock Down 0.3 %

Shares of NYSE AES opened at $13.02 on Wednesday. The stock has a market capitalization of $9.26 billion, a P/E ratio of 9.04, a PEG ratio of 0.71 and a beta of 1.02. The stock’s fifty day moving average is $14.21 and its 200 day moving average is $16.67. AES has a 52 week low of $12.24 and a 52 week high of $22.21. The company has a debt-to-equity ratio of 3.21, a quick ratio of 0.80 and a current ratio of 0.85.

AES Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be paid a dividend of $0.176 per share. The ex-dividend date is Friday, January 31st. This represents a $0.70 annualized dividend and a yield of 5.41%. This is a boost from AES’s previous quarterly dividend of $0.17. AES’s dividend payout ratio (DPR) is currently 48.61%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. DekaBank Deutsche Girozentrale grew its stake in shares of AES by 161.8% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 107,016 shares of the utilities provider’s stock valued at $2,035,000 after buying an additional 66,145 shares during the period. Rock Point Advisors LLC boosted its holdings in 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 acquiring an additional 195,460 shares in the last quarter. M&G PLC grew its stake in AES by 12.7% in the third quarter. M&G PLC now owns 6,511,760 shares of the utilities provider’s stock valued at $130,235,000 after acquiring an additional 732,457 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of AES by 28.4% during the third 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 in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of 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 purchasing an additional 82,956 shares in the last quarter. Institutional investors and hedge funds own 93.13% of the company’s stock.

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.