AES (NYSE:AES) Issues FY 2024 Earnings Guidance

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

Analyst Ratings Changes

Several analysts recently commented on the stock. Royal Bank of Canada restated an outperform rating and set a $22.00 price target on shares of AES in a research report on Tuesday, April 9th. Argus reaffirmed a buy rating and set a $25.00 target price on shares of AES in a research note on Tuesday, March 26th. Barclays decreased their price target on shares of AES from $21.00 to $20.00 and set an overweight rating on the stock in a research note on Thursday, March 14th. Morgan Stanley reiterated an overweight rating and issued a $25.00 price objective on shares of AES in a report on Monday, March 25th. Finally, UBS Group lowered their target price on AES from $20.00 to $19.00 and set a neutral rating on the stock in a report on Wednesday, April 3rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $22.13.

AES Stock Performance

NYSE:AES traded up $0.22 during trading hours on Monday, reaching $18.89. 3,404,951 shares of the company’s stock were exchanged, compared to its average volume of 8,258,038. The company has a 50-day moving average of $16.73 and a 200 day moving average of $17.02. AES has a 1-year low of $11.43 and a 1-year high of $23.07. The company has a quick ratio of 0.71, a current ratio of 0.78 and a debt-to-equity ratio of 4.04. The firm has a market capitalization of $13.42 billion, a price-to-earnings ratio of 25.93 and a beta of 1.08.

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

AES Announces Dividend

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