AES (NYSE:AES) Releases FY24 Earnings Guidance

AES (NYSE:AES) 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. AES also updated its FY 2024 guidance to 1.870-1.970 EPS.

Wall Street Analyst Weigh In

AES has been the subject of a number of recent research reports. Barclays increased their target price on AES from $22.00 to $23.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Evercore ISI upgraded AES to a “strong-buy” rating in a research note on Wednesday, September 18th. Finally, Jefferies Financial Group initiated coverage on AES in a research note on Wednesday, September 11th. They set a “buy” rating and a $20.00 price objective for the company. One investment analyst has rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, AES presently has an average rating of “Moderate Buy” and an average target price of $22.57.

AES Stock Performance

Shares of NYSE AES traded down $1.59 during mid-day trading on Friday, hitting $14.71. The company had a trading volume of 30,895,243 shares, compared to its average volume of 8,441,197. The stock has a market cap of $10.46 billion, a price-to-earnings ratio of 10.22 and a beta of 1.10. AES has a 12 month low of $14.68 and a 12 month high of $22.21. The company has a debt-to-equity ratio of 3.63, a current ratio of 0.97 and a quick ratio of 0.91. The firm’s 50 day simple moving average is $17.85 and its two-hundred day simple moving average is $18.29.

AES (NYSE:AES) last posted its earnings results on Thursday, October 31st. The utilities provider reported $0.71 EPS for the quarter, beating the consensus estimate of $0.60 by $0.11. AES had a return on equity of 28.95% and a net margin of 8.34%. The firm had revenue of $3.29 billion for the quarter, compared to analysts’ expectations of $3.46 billion. During the same period last year, the firm earned $0.60 EPS. The firm’s revenue was down 4.2% compared to the same quarter last year. As a group, equities research analysts forecast that AES will post 1.91 earnings per share for the current year.

AES Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be given a dividend of $0.1725 per share. This represents a $0.69 annualized dividend and a dividend yield of 4.69%. The ex-dividend date is Friday, November 1st. AES’s dividend payout ratio (DPR) is presently 47.92%.

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.