AES (NYSE:AES) Issues FY 2024 Earnings Guidance

AES (NYSE:AES) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 1.870-1.970 for the period, compared to the consensus earnings per share estimate of 1.920. The company issued revenue guidance of -. AES also updated its FY24 guidance to $1.87-$1.97 EPS.

AES Stock Performance

Shares of AES traded up $0.07 during mid-day trading on Thursday, reaching $16.49. The company had a trading volume of 14,597,855 shares, compared to its average volume of 8,181,916. The stock has a 50 day moving average of $17.94 and a two-hundred day moving average of $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 has a 52-week low of $14.67 and a 52-week high of $22.21. The stock has a market capitalization of $11.72 billion, a P/E ratio of 22.93 and a beta of 1.07.

AES (NYSE:AES) last posted its quarterly earnings results on Thursday, August 1st. The utilities provider reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.02. AES had a net margin of 6.07% and a return on equity of 32.74%. The company had revenue of $2.94 billion for the quarter, compared to the consensus estimate of $3.22 billion. During the same period last year, the company posted $0.21 EPS. The firm’s quarterly revenue was down 2.8% compared to the same quarter last year. On average, analysts expect that AES will post 1.9 earnings per share for the current year.

AES Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 1st will be issued a $0.1725 dividend. This represents a $0.69 annualized dividend and a dividend yield of 4.18%. The ex-dividend date of this dividend is Friday, November 1st. AES’s dividend payout ratio (DPR) is 95.83%.

Analysts Set New Price Targets

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

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.