AES (NYSE:AES) Updates FY24 Earnings Guidance

AES (NYSE:AESGet Free Report) updated its FY24 earnings guidance on Thursday. The company provided earnings per share guidance of $1.87-$1.97 for the period, compared to the consensus earnings per share estimate of $1.92.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Jefferies Financial Group began coverage on shares of AES in a report on Wednesday, September 11th. They set a “buy” rating and a $20.00 price target on the stock. Barclays raised their price target on shares of AES from $22.00 to $23.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. Finally, Evercore ISI raised shares of AES to a “strong-buy” rating in a research note on Wednesday, September 18th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $22.57.

View Our Latest Stock Report on AES

AES Trading Up 0.4 %

Shares of AES traded up $0.07 during trading on Thursday, reaching $16.49. 14,597,882 shares of the company traded hands, compared to its average volume of 8,181,167. AES has a twelve month low of $14.67 and a twelve month high of $22.21. The stock has a market cap of $11.72 billion, a PE ratio of 22.93 and a beta of 1.07. The stock has a 50-day simple moving average of $17.94 and a 200-day simple moving average of $18.29. The company has a quick ratio of 0.91, a current ratio of 0.97 and a debt-to-equity ratio of 3.63.

AES (NYSE:AESGet Free Report) last announced its quarterly earnings data on Thursday, August 1st. The utilities provider reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.02. The firm had revenue of $2.94 billion during the quarter, compared to analysts’ expectations of $3.22 billion. AES had a net margin of 6.07% and a return on equity of 32.74%. The business’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.21 earnings per share. On average, analysts anticipate that AES will post 1.9 earnings per share for the current year.

AES Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 1st will be issued a $0.1725 dividend. This represents a $0.69 dividend on an annualized basis and a dividend yield of 4.18%. The ex-dividend date of this dividend is Friday, November 1st. AES’s dividend payout ratio (DPR) is currently 95.83%.

AES Company Profile

(Get Free Report)

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.

Further Reading

Earnings History and Estimates for AES (NYSE:AES)

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