AES (NYSE:AES) Releases Quarterly Earnings Results

AES (NYSE:AES) released its quarterly earnings results on Friday. The utilities provider reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.16, Yahoo Finance reports. AES had a return on equity of 36.23% and a net margin of 4.40%. The firm had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $3.20 billion. During the same quarter last year, the business posted $0.22 EPS. The company’s revenue for the quarter was down 4.8% on a year-over-year basis. AES updated its FY 2024 guidance to 1.870-1.970 EPS.

AES Price Performance

NYSE:AES opened at $18.67 on Monday. The company has a debt-to-equity ratio of 4.04, a quick ratio of 0.71 and a current ratio of 0.78. The firm has a market cap of $13.27 billion, a price-to-earnings ratio of 25.93 and a beta of 1.08. AES has a 52 week low of $11.43 and a 52 week high of $23.07. The firm’s 50-day simple moving average is $16.73 and its 200 day simple moving average is $17.02.

AES Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be issued a dividend of $0.1725 per share. The ex-dividend date is Tuesday, April 30th. This represents a $0.69 annualized dividend and a yield of 3.70%. AES’s payout ratio is currently 95.83%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on AES shares. UBS Group dropped their price target on AES from $20.00 to $19.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 3rd. Mizuho started coverage on AES in a research report on Thursday, April 18th. They issued a “buy” rating and a $21.00 target price on the stock. Morgan Stanley reaffirmed an “overweight” rating and issued a $25.00 target price on shares of AES in a research report on Monday, March 25th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $22.00 target price on shares of AES in a research report on Tuesday, April 9th. Finally, Barclays lowered their target price on AES from $21.00 to $20.00 and set an “overweight” rating on the stock in a research report on Thursday, March 14th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $22.13.

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.