What is Zacks Research’s Forecast for AES FY2024 Earnings?

The AES Co. (NYSE:AES) – Analysts at Zacks Research raised their FY2024 earnings estimates for AES in a note issued to investors on Thursday, November 21st. Zacks Research analyst R. Department now forecasts that the utilities provider will earn $1.93 per share for the year, up from their prior forecast of $1.90. The consensus estimate for AES’s current full-year earnings is $1.94 per share. Zacks Research also issued estimates for AES’s Q4 2024 earnings at $0.34 EPS, Q2 2025 earnings at $0.38 EPS, Q3 2025 earnings at $0.70 EPS, FY2025 earnings at $1.98 EPS, Q1 2026 earnings at $0.49 EPS, Q2 2026 earnings at $0.51 EPS and Q3 2026 earnings at $0.73 EPS.

Other research analysts have also recently issued reports about the stock. Mizuho dropped their target price on shares of AES from $24.00 to $16.00 and set an “outperform” rating on the stock in a report on Thursday, November 21st. Evercore ISI upgraded shares of AES to a “strong-buy” rating in a report on Wednesday, September 18th. Jefferies Financial Group began coverage on shares of AES in a research report on Wednesday, September 11th. They issued a “buy” rating and a $20.00 price objective for the company. Bank of America began coverage on shares of AES in a research report on Monday. They set an “underperform” rating and a $11.00 price target for the company. Finally, Susquehanna cut their target price on shares of AES from $24.00 to $21.00 and set a “positive” rating for the company in a report on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, AES presently has a consensus rating of “Moderate Buy” and an average target price of $20.22.

AES Stock Down 4.4 %

Shares of AES stock opened at $12.58 on Monday. The company has a debt-to-equity ratio of 3.21, a current ratio of 0.85 and a quick ratio of 0.80. AES has a 1 year low of $12.53 and a 1 year high of $22.21. The firm’s 50-day moving average is $16.73 and its two-hundred day moving average is $17.84. The stock has a market cap of $8.94 billion, a price-to-earnings ratio of 8.73 and a beta of 1.10.

AES (NYSE:AES) last issued its earnings results on Thursday, October 31st. The utilities provider reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.11. AES had a net margin of 8.34% and a return on equity of 27.30%. The company had revenue of $3.29 billion for the quarter, compared to analysts’ expectations of $3.46 billion. During the same period in the prior year, the business earned $0.60 EPS. The firm’s quarterly revenue was down 4.2% on a year-over-year basis.

AES Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 1st were given a $0.1725 dividend. This represents a $0.69 dividend on an annualized basis and a dividend yield of 5.49%. The ex-dividend date of this dividend was Friday, November 1st. AES’s dividend payout ratio is currently 47.92%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in AES. Millburn Ridgefield Corp acquired a new stake in AES in the 3rd quarter worth about $28,000. Rise Advisors LLC grew its position in shares of AES by 92.4% in the 2nd quarter. Rise Advisors LLC now owns 1,499 shares of the utilities provider’s stock worth $26,000 after acquiring an additional 720 shares in the last quarter. Rothschild Investment LLC acquired a new position in AES during the 2nd quarter valued at approximately $28,000. Cromwell Holdings LLC boosted its position in AES by 59.1% during the 3rd quarter. Cromwell Holdings LLC now owns 1,723 shares of the utilities provider’s stock valued at $35,000 after purchasing an additional 640 shares during the period. Finally, UMB Bank n.a. grew its stake in shares of AES by 102.3% in the second quarter. UMB Bank n.a. now owns 1,776 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 898 shares in the last quarter. Hedge funds and other institutional investors own 93.13% of the company’s stock.

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.