Zacks Research Has Optimistic Outlook of AES FY2024 Earnings

The AES Co. (NYSE:AES) – Equities researchers at Zacks Research lifted their FY2024 EPS estimates for AES in a note issued to investors on Thursday, November 21st. Zacks Research analyst R. Department now expects that the utilities provider will post earnings per share of $1.93 for the year, up from their previous forecast of $1.90. The consensus estimate for AES’s current full-year earnings is $1.93 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.

A number of other research firms have also issued reports on AES. Evercore ISI raised shares of AES to a “strong-buy” rating in a report on Wednesday, September 18th. Mizuho cut their price objective on shares of AES from $24.00 to $16.00 and set an “outperform” rating for the company in a report on Thursday. Jefferies Financial Group initiated coverage on AES in a report on Wednesday, September 11th. They set a “buy” rating and a $20.00 target price on the stock. Susquehanna cut their price target on AES from $24.00 to $21.00 and set a “positive” rating for the company in a report on Tuesday, November 5th. Finally, Barclays boosted their price objective on AES from $22.00 to $23.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, AES has a consensus rating of “Moderate Buy” and a consensus price target of $21.38.

AES Stock Performance

Shares of NYSE:AES opened at $13.04 on Monday. The company has a debt-to-equity ratio of 3.21, a current ratio of 0.85 and a quick ratio of 0.80. AES has a 1 year low of $12.97 and a 1 year high of $22.21. The firm has a market capitalization of $9.27 billion, a PE ratio of 9.06 and a beta of 1.10. The business’s 50 day moving average price is $16.85 and its 200-day moving average price is $17.89.

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

AES Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 1st were issued a dividend of $0.1725 per share. This represents a $0.69 dividend on an annualized basis and a dividend yield of 5.29%. The ex-dividend date of this dividend was Friday, November 1st. AES’s dividend payout ratio is presently 47.92%.

Institutional Trading of AES

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Millburn Ridgefield Corp purchased a new stake in shares of AES in the 3rd quarter valued at approximately $28,000. Rise Advisors LLC increased its holdings in AES by 92.4% in the 2nd quarter. Rise Advisors LLC now owns 1,499 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 720 shares during the last quarter. Rothschild Investment LLC purchased a new stake in AES in the second quarter valued at approximately $28,000. Cromwell Holdings LLC boosted its position in shares of AES by 59.1% during the third quarter. Cromwell Holdings LLC now owns 1,723 shares of the utilities provider’s stock worth $35,000 after buying an additional 640 shares during the period. Finally, UMB Bank n.a. grew its stake in shares of AES by 102.3% in the second quarter. UMB Bank n.a. now owns 1,776 shares of the utilities provider’s stock valued at $31,000 after buying an additional 898 shares in the last quarter. 93.13% of the stock is currently owned by hedge funds and other institutional investors.

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.