AES (NYSE:AES) Issues FY24 Earnings Guidance

AES (NYSE:AES) updated its FY24 earnings guidance on Thursday. The company provided EPS guidance of $1.87-$1.97 for the period, compared to the consensus EPS estimate of $1.92. AES also updated its FY 2024 guidance to 1.870-1.970 EPS.

Wall Street Analysts Forecast Growth

A number of research firms have commented on AES. Evercore ISI upgraded AES to a “strong-buy” rating in a research note on Wednesday, September 18th. Jefferies Financial Group started coverage on AES in a research note on Wednesday, September 11th. They issued a “buy” rating and a $20.00 price target on the stock. Finally, Barclays boosted their price objective on AES from $22.00 to $23.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. One analyst has rated the stock with a sell rating, two have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, AES has an average rating of “Moderate Buy” and an average target price of $22.57.

AES Trading Down 9.7 %

AES traded down $1.59 during midday trading on Friday, hitting $14.71. 30,895,243 shares of the company were exchanged, compared to its average volume of 8,441,197. The firm has a market capitalization of $10.46 billion, a P/E ratio of 10.22 and a beta of 1.10. AES has a 1-year low of $14.68 and a 1-year high of $22.21. The firm’s 50 day moving average price is $17.85 and its 200-day moving average price is $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:AES) last announced its quarterly earnings data on Thursday, October 31st. The utilities provider reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.11. The company had revenue of $3.29 billion for the quarter, compared to the consensus estimate of $3.46 billion. AES had a return on equity of 28.95% and a net margin of 8.34%. The firm’s revenue was down 4.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.60 EPS. As a group, equities analysts forecast that AES will post 1.91 EPS for the current fiscal year.

AES Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be paid a $0.1725 dividend. This represents a $0.69 dividend on an annualized basis and a dividend yield of 4.69%. The ex-dividend date is Friday, November 1st. AES’s dividend payout ratio is 47.92%.

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.