AES Corp (NYSE:AES) – Research analysts at SunTrust Banks lifted their FY2018 earnings per share estimates for AES in a research note issued on Tuesday, November 6th. SunTrust Banks analyst A. Agha now anticipates that the utilities provider will post earnings per share of $1.22 for the year, up from their previous estimate of $1.20. SunTrust Banks also issued estimates for AES’s Q4 2018 earnings at $0.34 EPS, Q1 2019 earnings at $0.30 EPS, Q2 2019 earnings at $0.27 EPS, Q3 2019 earnings at $0.37 EPS, Q4 2019 earnings at $0.36 EPS, Q1 2020 earnings at $0.32 EPS, Q2 2020 earnings at $0.29 EPS and Q3 2020 earnings at $0.40 EPS.
A number of other analysts have also recently issued reports on the stock. Morgan Stanley restated a “hold” rating and set a $14.50 target price (up previously from $14.00) on shares of AES in a research note on Thursday, October 11th. ValuEngine upgraded shares of AES from a “hold” rating to a “buy” rating in a research note on Thursday, October 11th. Zacks Investment Research upgraded shares of AES from a “hold” rating to a “buy” rating and set a $17.00 target price for the company in a research note on Wednesday, October 10th. Finally, TheStreet upgraded shares of AES from a “c+” rating to a “b” rating in a research note on Tuesday. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company’s stock. AES has an average rating of “Hold” and a consensus price target of $14.00.
AES (NYSE:AES) last posted its earnings results on Tuesday, November 6th. The utilities provider reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.05. The company had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $3.63 billion. AES had a negative net margin of 2.48% and a positive return on equity of 19.50%. AES’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.23 EPS.
The business also recently announced a quarterly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Thursday, November 1st will be paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date is Wednesday, October 31st. AES’s dividend payout ratio is presently 48.15%.
A number of institutional investors have recently modified their holdings of AES. Bank of Montreal Can raised its stake in AES by 292.9% in the 3rd quarter. Bank of Montreal Can now owns 16,000,507 shares of the utilities provider’s stock worth $224,007,000 after purchasing an additional 11,927,913 shares in the last quarter. Glenmede Trust Co. NA raised its stake in AES by 1,298.6% in the 2nd quarter. Glenmede Trust Co. NA now owns 3,615,242 shares of the utilities provider’s stock worth $48,481,000 after purchasing an additional 3,356,756 shares in the last quarter. WBI Investments Inc. acquired a new stake in AES in the 2nd quarter worth about $40,420,000. Bank of America Corp DE raised its stake in AES by 56.6% in the 2nd quarter. Bank of America Corp DE now owns 7,987,170 shares of the utilities provider’s stock worth $107,107,000 after purchasing an additional 2,887,388 shares in the last quarter. Finally, Hexavest Inc. acquired a new stake in AES in the 2nd quarter worth about $36,387,000. Institutional investors and hedge funds own 98.78% of the company’s stock.
AES Company Profile
The AES Corporation operates as a diversified power generation and utility company. It owns and/or operates power plants to generate and sell power to customers, such as utilities, industrial users, and other intermediaries. The company also 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.
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