Brokers Offer Predictions for The AES Co.’s Q3 2024 Earnings (NYSE:AES)

The AES Co. (NYSE:AES) – Research analysts at Zacks Research upped their Q3 2024 EPS estimates for shares of AES in a research note issued to investors on Tuesday, September 17th. Zacks Research analyst R. Department now anticipates that the utilities provider will earn $0.57 per share for the quarter, up from their previous estimate of $0.56. The consensus estimate for AES’s current full-year earnings is $1.91 per share. Zacks Research also issued estimates for AES’s Q1 2025 earnings at $0.21 EPS, Q3 2025 earnings at $0.79 EPS, Q4 2025 earnings at $0.78 EPS and FY2025 earnings at $2.06 EPS.

Other equities analysts also recently issued research reports about the stock. Evercore ISI raised shares of AES to a “strong-buy” rating in a research note on Wednesday. Barclays lowered their price objective on AES from $23.00 to $22.00 and set an “overweight” rating for the company in a research report on Monday, July 22nd. Finally, Jefferies Financial Group started coverage on AES in a research report on Wednesday, September 11th. They set a “buy” rating and a $20.00 target price on the stock. One analyst has rated the stock with a sell rating, two have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, AES has a consensus rating of “Moderate Buy” and an average price target of $21.50.

AES Price Performance

AES stock opened at $18.90 on Thursday. The firm has a market cap of $13.43 billion, a price-to-earnings ratio of 26.25 and a beta of 1.07. AES has a 52-week low of $11.43 and a 52-week high of $22.21. The company has a debt-to-equity ratio of 3.63, a quick ratio of 0.91 and a current ratio of 0.97. The firm has a 50 day moving average price of $17.40 and a two-hundred day moving average price of $18.00.

AES (NYSE:AES) last posted its quarterly earnings data 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 the consensus estimate of $3.22 billion. AES had a return on equity of 32.74% and a net margin of 6.07%. AES’s quarterly revenue was down 2.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.21 earnings per share.

Institutional Investors Weigh In On AES

Hedge funds and other institutional investors have recently modified their holdings of the company. Rise Advisors LLC grew its position 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 period. Rothschild Investment LLC bought a new stake in shares of AES during the second quarter worth about $28,000. UMB Bank n.a. raised its holdings in shares of AES by 102.3% in the 2nd quarter. UMB Bank n.a. now owns 1,776 shares of the utilities provider’s stock worth $31,000 after acquiring an additional 898 shares during the last quarter. Riverview Trust Co bought a new position in AES in the 1st quarter valued at about $33,000. Finally, nVerses Capital LLC acquired a new position in AES during the 2nd quarter valued at about $33,000. Institutional investors own 93.13% of the company’s stock.

AES Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, August 1st were issued a $0.1725 dividend. The ex-dividend date was Thursday, August 1st. This represents a $0.69 annualized dividend and a yield of 3.65%. AES’s payout ratio is currently 95.83%.

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.