AES (NYSE:AES) Issues FY24 Earnings Guidance

AES (NYSE:AES) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share guidance of $1.87-$1.97 for the period, compared to the consensus earnings per share estimate of $1.91. AES also updated its FY 2024 guidance to 1.920-1.970 EPS.

Analyst Ratings Changes

Several research analysts have recently commented on AES shares. Barclays reduced their price target on AES from $23.00 to $22.00 and set an overweight rating for the company in a research report on Monday, July 22nd. Seaport Res Ptn downgraded AES from a strong-buy rating to a hold rating in a research report on Tuesday, May 21st. Royal Bank of Canada reissued an outperform rating and issued a $22.00 price target on shares of AES in a report on Tuesday, April 9th. Finally, Mizuho increased their price objective on shares of AES from $21.00 to $24.00 and gave the company a buy rating in a research report on Friday, May 17th. 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 company’s stock. According to data from MarketBeat.com, AES currently has a consensus rating of Moderate Buy and a consensus target price of $21.71.

AES Trading Down 4.4 %

AES stock traded down $0.78 during trading on Friday, reaching $17.13. 10,660,581 shares of the stock were exchanged, compared to its average volume of 7,761,461. The company has a current ratio of 0.78, a quick ratio of 0.71 and a debt-to-equity ratio of 4.04. The firm has a market capitalization of $12.17 billion, a price-to-earnings ratio of 23.79 and a beta of 1.08. The business has a 50 day moving average price of $18.71 and a 200-day moving average price of $17.80. AES has a 1 year low of $11.43 and a 1 year high of $22.21.

AES (NYSE:AES) last released its quarterly earnings data on Thursday, August 1st. The utilities provider reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.02. The firm had revenue of $2.94 billion for the quarter, compared to analysts’ expectations of $3.22 billion. AES had a return on equity of 35.44% and a net margin of 6.07%. The firm’s quarterly revenue was down 2.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.21 earnings per share. On average, research analysts predict that AES will post 1.91 earnings per share for the current year.

AES Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Thursday, August 1st will be given a dividend of $0.1725 per share. The ex-dividend date of this dividend is Thursday, August 1st. This represents a $0.69 dividend on an annualized basis and a dividend yield of 4.03%. AES’s payout ratio is currently 95.83%.

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.