The AES Corp. (AES) Downgraded by Barclays PLC
Barclays PLC downgraded shares of The AES Corp. (NYSE:AES) from an overweight rating to an equal weight rating in a research note issued to investors on Tuesday. Barclays PLC currently has $12.00 price objective on the stock, down from their prior price objective of $14.00.
A number of other equities research analysts have also recently issued reports on AES. Zacks Investment Research cut The AES Corp. from a hold rating to a sell rating in a research note on Tuesday, June 14th. TheStreet cut The AES Corp. from a buy rating to a hold rating in a research note on Friday, August 5th. Finally, JPMorgan Chase & Co. restated a buy rating on shares of The AES Corp. in a research note on Thursday, June 16th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of Hold and an average target price of $12.75.
Shares of The AES Corp. (NYSE:AES) opened at 11.59 on Tuesday. The AES Corp. has a 52-week low of $8.22 and a 52-week high of $13.32. The firm’s market capitalization is $7.64 billion. The company’s 50-day moving average is $12.47 and its 200 day moving average is $11.85.
The AES Corp. (NYSE:AES) last announced its quarterly earnings data on Friday, August 5th. The company reported $0.17 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.16 by $0.01. The AES Corp. had a positive return on equity of 13.56% and a negative net margin of 1.89%. The business had revenue of $3.23 billion for the quarter, compared to analysts’ expectations of $3.71 billion. During the same period in the previous year, the business posted $0.25 EPS. The firm’s quarterly revenue was down 11.7% compared to the same quarter last year. Analysts expect that The AES Corp. will post $0.99 EPS for the current fiscal year.
Several large investors have recently made changes to their positions in AES. Tocqueville Asset Management L.P. bought a new stake in shares of The AES Corp. during the second quarter valued at $133,000. Invictus RG boosted its stake in shares of The AES Corp. by 21.9% in the first quarter. Invictus RG now owns 11,906 shares of the company’s stock valued at $140,000 after buying an additional 2,140 shares in the last quarter. Silvercrest Asset Management Group LLC bought a new stake in shares of The AES Corp. during the first quarter valued at $142,000. Nuveen Fund Advisors LLC bought a new stake in shares of The AES Corp. during the second quarter valued at $192,000. Finally, Rehmann Capital Advisory Group bought a new stake in shares of The AES Corp. during the first quarter valued at $206,000. Hedge funds and other institutional investors own 94.54% of the company’s stock.
About The AES Corp.
The AES Corporation is a holding company. The Company, through its subsidiaries and affiliates, operates a diversified portfolio of electricity generation and distribution businesses. The Company is organized into six strategic business units (SBUs): the United States; Andes; Brazil; Mexico, Central America and Caribbean (MCAC); Europe, and Asia.
Receive News & Ratings for The AES Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The AES Corp. and related companies with MarketBeat.com's FREE daily email newsletter.