What is Zacks Research’s Estimate for AES FY2024 Earnings?

The AES Co. (NYSE:AES) – Investment analysts at Zacks Research boosted their FY2024 earnings estimates for shares of AES in a report released on Thursday, December 19th. Zacks Research analyst R. Department now expects that the utilities provider will post earnings of $1.94 per share for the year, up from their previous forecast of $1.93. The consensus estimate for AES’s current full-year earnings is $1.95 per share. Zacks Research also issued estimates for AES’s Q1 2025 earnings at $0.39 EPS, Q2 2025 earnings at $0.42 EPS, Q1 2026 earnings at $0.52 EPS, Q2 2026 earnings at $0.52 EPS, Q3 2026 earnings at $0.75 EPS and FY2026 earnings at $2.08 EPS.

AES (NYSE:AES) last issued its quarterly earnings results on Thursday, October 31st. The utilities provider reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.11. The business had revenue of $3.29 billion during the quarter, compared to analysts’ expectations of $3.46 billion. AES had a return on equity of 27.30% and a net margin of 8.34%. The firm’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.60 earnings per share.

Several other equities analysts have also commented on the stock. Evercore ISI raised shares of AES to a “strong-buy” rating in a report on Wednesday, September 18th. Mizuho cut their target price on AES from $24.00 to $16.00 and set an “outperform” rating for the company in a research note on Thursday, November 21st. Jefferies Financial Group initiated coverage on AES in a report on Wednesday, September 11th. They set a “buy” rating and a $20.00 price target for the company. HSBC started coverage on AES in a research report on Friday, December 13th. They issued a “buy” rating and a $17.00 target price on the stock. Finally, Bank of America initiated coverage on shares of AES in a research note on Monday, November 25th. They issued an “underperform” rating and a $11.00 price target on the stock. One analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, AES currently has a consensus rating of “Moderate Buy” and an average price target of $19.30.

AES Stock Performance

AES opened at $12.44 on Friday. The firm has a market cap of $8.85 billion, a P/E ratio of 8.64, a price-to-earnings-growth ratio of 0.71 and a beta of 1.01. The business’s fifty day moving average is $14.67 and its 200-day moving average is $16.94. AES has a 52-week low of $12.24 and a 52-week high of $22.21. The company has a debt-to-equity ratio of 3.21, a quick ratio of 0.80 and a current ratio of 0.85.

Hedge Funds Weigh In On AES

Hedge funds have recently modified their holdings of the business. Rothschild Investment LLC bought a new position in AES during the 2nd quarter worth $28,000. Millburn Ridgefield Corp bought a new position in shares of AES during the third quarter worth about $28,000. UMB Bank n.a. boosted its holdings in AES by 102.3% in the second quarter. UMB Bank n.a. now owns 1,776 shares of the utilities provider’s stock valued at $31,000 after acquiring an additional 898 shares during the last quarter. nVerses Capital LLC bought a new position in AES during the 2nd quarter worth approximately $33,000. Finally, Cromwell Holdings LLC lifted its position in shares of AES by 59.1% in the 3rd quarter. Cromwell Holdings LLC now owns 1,723 shares of the utilities provider’s stock worth $35,000 after purchasing an additional 640 shares during the period. Institutional investors and hedge funds own 93.13% of the company’s stock.

AES Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be given a $0.176 dividend. This is a boost from AES’s previous quarterly dividend of $0.17. This represents a $0.70 annualized dividend and a yield of 5.66%. The ex-dividend date of this dividend is Friday, January 31st. AES’s dividend payout ratio is 48.61%.

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.