AES (AES) to Release Earnings on Thursday

AES (NYSE:AES) is scheduled to post its quarterly earnings results after the market closes on Thursday, October 31st. Analysts expect AES to post earnings of $0.60 per share for the quarter. AES has set its FY24 guidance at $1.87-$1.97 EPS and its FY 2024 guidance at 1.920-1.970 EPS.Individual interested in participating in the company’s earnings conference call can do so using this link.

AES (NYSE:AES) last released its quarterly earnings results on Thursday, August 1st. The utilities provider reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.02. The business had revenue of $2.94 billion during the quarter, compared to analyst estimates of $3.22 billion. AES had a net margin of 6.07% and a return on equity of 32.74%. The business’s revenue was down 2.8% on a year-over-year basis. During the same period last year, the business earned $0.21 EPS. On average, analysts expect AES to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

AES Price Performance

AES opened at $17.05 on Tuesday. The company has a fifty day simple moving average of $17.98 and a 200 day simple moving average of $18.31. The firm has a market cap of $12.12 billion, a price-to-earnings ratio of 23.68 and a beta of 1.07. AES has a twelve month low of $14.67 and a twelve month high of $22.21. The company has a current ratio of 0.97, a quick ratio of 0.91 and a debt-to-equity ratio of 3.63.

AES Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be issued a dividend of $0.1725 per share. This represents a $0.69 annualized dividend and a yield of 4.05%. The ex-dividend date is Friday, November 1st. AES’s dividend payout ratio is currently 95.83%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on AES shares. Evercore ISI raised shares of AES to a “strong-buy” rating in a report on Wednesday, September 18th. Jefferies Financial Group started coverage on shares of AES in a report on Wednesday, September 11th. They set a “buy” rating and a $20.00 price objective for the company. Finally, Barclays raised their price objective on shares of AES from $22.00 to $23.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $22.57.

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.