AES (NYSE:AES) Releases FY 2024 Earnings Guidance

AES (NYSE:AES) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided EPS guidance of 1.870-1.970 for the period, compared to the consensus EPS estimate of 1.910. The company issued revenue guidance of -.

Analyst Upgrades and Downgrades

AES has been the topic of several recent research reports. Morgan Stanley reiterated an overweight rating and issued a $25.00 price target on shares of AES in a report on Monday, March 25th. Mizuho started coverage on shares of AES in a research report on Thursday, April 18th. They issued a buy rating and a $21.00 target price on the stock. Argus restated a buy rating and issued a $25.00 price target on shares of AES in a research report on Tuesday, March 26th. Royal Bank of Canada reissued an outperform rating and set a $22.00 target price on shares of AES in a research report on Tuesday, April 9th. Finally, Barclays dropped their price target on AES from $21.00 to $20.00 and set an overweight rating on the stock in a report on Thursday, March 14th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of Moderate Buy and an average target price of $22.13.

AES Stock Up 1.8 %

Shares of AES stock traded up $0.33 during trading hours on Monday, reaching $19.00. 4,020,750 shares of the company were exchanged, compared to its average volume of 8,263,625. The company has a debt-to-equity ratio of 4.04, a quick ratio of 0.71 and a current ratio of 0.78. AES has a 1 year low of $11.43 and a 1 year high of $23.07. The stock’s fifty day moving average is $16.73 and its 200 day moving average is $17.02. The firm has a market cap of $13.50 billion, a PE ratio of 25.93 and a beta of 1.08.

AES (NYSE:AES) last issued its quarterly earnings results on Friday, May 3rd. The utilities provider reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.16. AES had a return on equity of 36.23% and a net margin of 4.40%. The firm had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.20 billion. During the same quarter in the prior year, the business posted $0.22 earnings per share. AES’s revenue for the quarter was down 4.8% on a year-over-year basis. As a group, equities research analysts forecast that AES will post 1.91 earnings per share for the current year.

AES Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be paid a $0.1725 dividend. This represents a $0.69 dividend on an annualized basis and a dividend yield of 3.63%. The ex-dividend date of this dividend is Tuesday, April 30th. AES’s dividend payout ratio (DPR) is currently 95.83%.

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.