AES (NYSE:AES) Releases Quarterly Earnings Results, Beats Expectations By $0.16 EPS

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

AES Stock Performance

Shares of AES stock traded up $0.24 during trading hours on Monday, hitting $18.91. 3,147,004 shares of the company’s stock traded hands, compared to its average volume of 8,254,298. The stock has a market capitalization of $13.44 billion, a price-to-earnings ratio of 25.93 and a beta of 1.08. The company has a debt-to-equity ratio of 4.04, a current ratio of 0.78 and a quick ratio of 0.71. AES has a 12-month low of $11.43 and a 12-month high of $23.07. The company has a fifty day simple moving average of $16.73 and a 200-day simple moving average of $17.02.

AES Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be paid a $0.1725 dividend. The ex-dividend date 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 presently 95.83%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on AES shares. Argus reaffirmed a “buy” rating and set a $25.00 price target on shares of AES in a report on Tuesday, March 26th. UBS Group decreased their price target on shares of AES from $20.00 to $19.00 and set a “neutral” rating for the company in a research report on Wednesday, April 3rd. Barclays decreased their price objective on shares of AES from $21.00 to $20.00 and set an “overweight” rating for the company in a research report on Thursday, March 14th. Royal Bank of Canada reiterated an “outperform” rating and issued a $22.00 price objective on shares of AES in a research note on Tuesday, April 9th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $25.00 price target on shares of AES in a research note on Monday, March 25th. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price 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.