AES (NYSE:AES) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday. The brokerage currently has a $17.00 price objective on the utilities provider’s stock. Zacks Investment Research‘s target price points to a potential upside of 9.32% from the company’s current price.
According to Zacks, “In past 12 months, shares of AES Corp have outperformed its industry. The company continues to streamline its portfolio through asset divestments and the exiting markets wherein it does not have or cannot develop a competitive edge. AES Corp is focused on preserving its financial flexibility by reducing costs. Also, the company is rapidly expanding its renewable footprint in overseas. The company signed long-term PPAs for 1.9 GW with large creditworthy customers such as Microsoft and Apple as well as utilities. However, its focus on long-term supply contracts exposes it to commodity price risks. The political landscape in Brazil remains unstable and has caused a delay in AES Corp’s reform plans, which otherwise might have benefited the company’s businesses in the country.”
AES has been the subject of a number of other research reports. Morgan Stanley restated a “hold” rating and set a $14.50 target price (up previously from $14.00) on shares of AES in a research report on Thursday, October 11th. TheStreet upgraded AES from a “c+” rating to a “b” rating in a research report on Tuesday, November 6th. Finally, ValuEngine upgraded AES from a “hold” rating to a “buy” rating in a report on Thursday, October 11th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $14.00.
Shares of NYSE:AES traded up $0.06 during trading on Monday, hitting $15.55. 4,663,188 shares of the stock were exchanged, compared to its average volume of 4,978,926. AES has a 1-year low of $9.86 and a 1-year high of $16.28. The firm has a market capitalization of $10.30 billion, a PE ratio of 14.40, a PEG ratio of 1.32 and a beta of 0.94. The company has a current ratio of 1.24, a quick ratio of 1.10 and a debt-to-equity ratio of 3.17.
AES (NYSE:AES) last announced its quarterly earnings data on Tuesday, November 6th. The utilities provider reported $0.35 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.05. AES had a positive return on equity of 19.50% and a negative net margin of 2.48%. The company had revenue of $2.84 billion for the quarter, compared to analyst estimates of $3.63 billion. During the same quarter last year, the firm earned $0.23 EPS. AES’s revenue for the quarter was up 5.3% compared to the same quarter last year. On average, sell-side analysts predict that AES will post 1.21 EPS for the current year.
In related news, insider Jeffrey W. Ubben acquired 35,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 26th. The stock was acquired at an average price of $13.75 per share, for a total transaction of $481,250.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.16% of the company’s stock.
Large investors have recently added to or reduced their stakes in the business. Arcadia Investment Management Corp MI bought a new position in shares of AES during the fourth quarter worth approximately $29,000. IMS Capital Management bought a new position in shares of AES during the third quarter worth approximately $52,000. North Star Investment Management Corp. increased its stake in shares of AES by 22.8% during the fourth quarter. North Star Investment Management Corp. now owns 4,476 shares of the utilities provider’s stock worth $65,000 after purchasing an additional 831 shares during the period. O Shaughnessy Asset Management LLC bought a new position in shares of AES during the third quarter worth approximately $100,000. Finally, MinichMacGregor Wealth Management LLC bought a new position in shares of AES during the third quarter worth approximately $121,000. Hedge funds and other institutional investors own 95.21% of the company’s stock.
The AES Corporation operates as a diversified power generation and utility company. It owns and/or operates power plants to generate and sell power to customers, such as utilities, industrial users, and other intermediaries. The company also 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.
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