AES (NYSE:AES) Announces Quarterly Earnings Results, Beats Estimates By $0.16 EPS

AES (NYSE:AES) issued its quarterly earnings data on Friday. The utilities provider reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.16, Yahoo Finance reports. The company had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.20 billion. AES had a net margin of 4.40% and a return on equity of 36.23%. AES’s revenue was down 4.8% compared to the same quarter last year. During the same period last year, the company posted $0.22 earnings per share. AES updated its FY 2024 guidance to 1.870-1.970 EPS.

AES Stock Up 1.3 %

Shares of AES traded up $0.25 during midday trading on Monday, reaching $18.92. The stock had a trading volume of 2,732,916 shares, compared to its average volume of 8,249,867. The company’s fifty day simple moving average is $16.73 and its two-hundred day simple moving average is $17.02. AES has a 1-year low of $11.43 and a 1-year high of $23.07. The company has a debt-to-equity ratio of 4.04, a current ratio of 0.78 and a quick ratio of 0.71. The company has a market cap of $13.45 billion, a price-to-earnings ratio of 25.93 and a beta of 1.08.

AES Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be given a dividend of $0.1725 per share. The ex-dividend date of this dividend is Tuesday, April 30th. This represents a $0.69 dividend on an annualized basis and a dividend yield of 3.65%. AES’s payout ratio is currently 95.83%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. UBS Group lowered their target price on shares of AES from $20.00 to $19.00 and set a “neutral” rating for the company in a research note on Wednesday, April 3rd. Royal Bank of Canada restated an “outperform” rating and issued a $22.00 target price on shares of AES in a research note on Tuesday, April 9th. Mizuho began coverage on shares of AES in a research note on Thursday, April 18th. They issued a “buy” rating and a $21.00 target price for the company. Argus reiterated a “buy” rating and set a $25.00 price objective on shares of AES in a research note on Tuesday, March 26th. Finally, Barclays lowered their price objective on shares of AES from $21.00 to $20.00 and set an “overweight” rating for the company in a research note on Thursday, March 14th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $22.13.

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.