AES (NYSE:AES) Releases FY 2024 Earnings Guidance

AES (NYSE:AES) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of 1.870-1.970 for the period, compared to the consensus estimate of 1.910. The company issued revenue guidance of -.

AES Trading Up 1.3 %

NYSE AES traded up $0.24 on Monday, reaching $18.91. The stock had a trading volume of 3,147,004 shares, compared to its average volume of 8,254,298. The firm has a market capitalization of $13.44 billion, a price-to-earnings ratio of 25.93 and a beta of 1.08. The company has a quick ratio of 0.71, a current ratio of 0.78 and a debt-to-equity ratio of 4.04. The stock has a fifty day moving average price of $16.73 and a two-hundred day moving average price of $17.02. AES has a 12-month low of $11.43 and a 12-month high of $23.07.

AES (NYSE:AES) last announced its quarterly earnings data on Friday, May 3rd. The utilities provider reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.16. AES had a return on equity of 36.23% and a net margin of 4.40%. The business had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.20 billion. During the same period in the previous year, the company posted $0.22 earnings per share. The business’s revenue for the quarter was down 4.8% on a year-over-year basis. As a group, sell-side analysts forecast that AES will post 1.91 EPS for the current fiscal year.

AES Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be given a $0.1725 dividend. This represents a $0.69 annualized dividend and a yield of 3.65%. The ex-dividend date is Tuesday, April 30th. AES’s dividend payout ratio is presently 95.83%.

Analysts Set New Price Targets

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

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.