Brokers Issue Forecasts for AES’s FY2024 Earnings (NYSE:AES)

The AES Co. (NYSE:AES) – Zacks Research upped their FY2024 earnings per share (EPS) estimates for shares of AES in a report issued on Monday, December 23rd. Zacks Research analyst R. Department now forecasts that the utilities provider will post earnings of $1.95 per share for the year, up from their prior 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 released its 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. The business had revenue of $3.29 billion during the quarter, compared to the consensus estimate of $3.46 billion. AES had a net margin of 8.34% and a return on equity of 27.30%. The company’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.60 EPS.

Several other research analysts have also weighed in on the company. Susquehanna lowered 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. Mizuho dropped their price target on AES from $24.00 to $16.00 and set an “outperform” rating on the stock in a research note on Thursday, November 21st. Evercore ISI raised shares of AES to a “strong-buy” rating in a research report on Wednesday, September 18th. Bank of America initiated coverage on shares of AES in a research report on Monday, November 25th. They set an “underperform” rating and a $11.00 target price on the stock. Finally, Hsbc Global Res raised shares of AES to a “strong-buy” rating in a research note on Friday, December 13th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $19.30.

AES Price Performance

Shares of NYSE AES opened at $13.02 on Wednesday. The company has a quick ratio of 0.80, a current ratio of 0.85 and a debt-to-equity ratio of 3.21. The company has a market capitalization of $9.26 billion, a PE ratio of 9.04, a P/E/G ratio of 0.71 and a beta of 1.02. The firm has a fifty day simple moving average of $14.31 and a 200 day simple moving average of $16.70. AES has a twelve month low of $12.24 and a twelve month high of $22.21.

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 issued a $0.176 dividend. This represents a $0.70 dividend on an annualized basis and a dividend yield of 5.41%. The ex-dividend date of this dividend is Friday, January 31st. This is a positive change from AES’s previous quarterly dividend of $0.17. AES’s dividend payout ratio is currently 48.61%.

Hedge Funds Weigh In On AES

A number of hedge funds have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. raised its stake in shares of AES by 3.5% in the third quarter. Principal Financial Group Inc. now owns 830,873 shares of the utilities provider’s stock worth $16,667,000 after purchasing an additional 28,043 shares during the last quarter. Franklin Resources Inc. raised its position in AES by 12.8% in the 3rd quarter. Franklin Resources Inc. now owns 2,930,901 shares of the utilities provider’s stock valued at $58,794,000 after buying an additional 333,154 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in AES during the 3rd quarter worth $139,000. Sanctuary Advisors LLC grew its stake in shares of AES by 3.5% in the 3rd quarter. Sanctuary Advisors LLC now owns 34,067 shares of the utilities provider’s stock worth $683,000 after acquiring an additional 1,141 shares in the last quarter. Finally, Neo Ivy Capital Management purchased a new stake in shares of AES in the third quarter valued at about $204,000. Institutional investors and hedge funds own 93.13% of the company’s stock.

About AES

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.