SunTrust Banks, Inc. Reiterates “Buy” Rating for The AES Corporation (AES)
The AES Corporation (NYSE:AES)‘s stock had its “buy” rating reissued by investment analysts at SunTrust Banks, Inc. in a research report issued on Wednesday. They presently have a $15.00 price target on the utilities provider’s stock. SunTrust Banks, Inc.’s target price points to a potential upside of 33.16% from the stock’s current price.
Several other research firms have also weighed in on AES. BidaskClub raised shares of The AES Corporation from a “strong sell” rating to a “sell” rating in a report on Wednesday, August 23rd. Zacks Investment Research raised shares of The AES Corporation from a “hold” rating to a “buy” rating and set a $13.00 price objective for the company in a report on Thursday, August 17th. Morgan Stanley reaffirmed an “equal weight” rating on shares of The AES Corporation in a report on Friday, September 8th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $12.00 price objective on shares of The AES Corporation in a report on Monday. Finally, ValuEngine lowered shares of The AES Corporation from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Four analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $12.40.
The AES Corporation (AES) opened at 11.27 on Wednesday. The AES Corporation has a 12-month low of $10.60 and a 12-month high of $13.32. The company’s market capitalization is $7.44 billion. The stock’s 50 day moving average price is $11.18 and its 200 day moving average price is $11.32.
The AES Corporation (NYSE:AES) last announced its quarterly earnings results on Tuesday, August 8th. The utilities provider reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.04. The firm had revenue of $3.47 billion during the quarter, compared to analysts’ expectations of $2.97 billion. The AES Corporation had a negative net margin of 5.30% and a positive return on equity of 15.86%. The company’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.17 earnings per share. On average, equities research analysts anticipate that The AES Corporation will post $1.05 earnings per share for the current fiscal year.
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Institutional investors have recently modified their holdings of the stock. Jane Street Group LLC acquired a new stake in shares of The AES Corporation in the first quarter valued at approximately $117,000. Ffcm LLC increased its holdings in shares of The AES Corporation by 171.8% in the second quarter. Ffcm LLC now owns 10,495 shares of the utilities provider’s stock valued at $116,000 after purchasing an additional 6,634 shares in the last quarter. HRT Financial LLC acquired a new stake in shares of The AES Corporation in the first quarter valued at approximately $132,000. Community Bank & Trust Waco Texas acquired a new stake in shares of The AES Corporation in the second quarter valued at approximately $134,000. Finally, Pacer Advisors Inc. increased its holdings in shares of The AES Corporation by 3.1% in the first quarter. Pacer Advisors Inc. now owns 13,437 shares of the utilities provider’s stock valued at $150,000 after purchasing an additional 402 shares in the last quarter. 93.21% of the stock is owned by institutional investors and hedge funds.
About The AES Corporation
The AES Corporation is a holding company. The Company, through its subsidiaries and affiliates, operates a diversified portfolio of electricity generation and distribution businesses. It is organized into six strategic business units (SBUs): the United States; Andes; Brazil; Mexico, Central America and the Caribbean (MCAC); Europe, and Asia.
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