AES (NYSE:AES) Releases FY24 Earnings Guidance

AES (NYSE:AES) updated its FY24 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $1.87-$1.97 for the period, compared to the consensus estimate of $1.92.

Analyst Ratings Changes

A number of equities analysts have commented on AES shares. Barclays lifted their price objective on shares of AES from $22.00 to $23.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. Jefferies Financial Group started coverage on shares of AES in a report on Wednesday, September 11th. They set a “buy” rating and a $20.00 price objective for the company. Finally, Evercore ISI upgraded shares of AES to a “strong-buy” rating in a report on Wednesday, September 18th. One analyst has rated the stock with a sell rating, two have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $22.57.

AES Stock Up 0.4 %

NYSE:AES traded up $0.07 during midday trading on Thursday, reaching $16.49. 14,597,882 shares of the stock traded hands, compared to its average volume of 8,181,167. AES has a 12-month low of $14.67 and a 12-month high of $22.21. The business has a 50-day moving average of $17.94 and a two-hundred day moving average of $18.29. 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 stock has a market capitalization of $11.72 billion, a PE ratio of 22.93 and a beta of 1.07.

AES (NYSE:AES) last issued its quarterly earnings results on Thursday, August 1st. The utilities provider reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.02. AES had a net margin of 6.07% and a return on equity of 32.74%. The business had revenue of $2.94 billion for the quarter, compared to analyst estimates of $3.22 billion. During the same quarter in the prior year, the business posted $0.21 EPS. AES’s revenue for the quarter was down 2.8% compared to the same quarter last year. On average, equities analysts forecast that AES will post 1.9 earnings per share for the current fiscal year.

AES Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be paid a $0.1725 dividend. The ex-dividend date of this dividend is Friday, November 1st. This represents a $0.69 dividend on an annualized basis and a dividend yield of 4.18%. 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.