AES (NYSE:AES) Issues FY24 Earnings Guidance

AES (NYSE:AES) issued an update on its FY24 earnings guidance on Thursday morning. 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.

AES Trading Down 9.7 %

Shares of NYSE AES traded down $1.59 on Friday, reaching $14.71. 30,895,243 shares of the company traded hands, compared to its average volume of 8,441,197. AES has a fifty-two week low of $14.68 and a fifty-two week high of $22.21. The company has a 50 day moving average of $17.85 and a 200 day moving average of $18.29. The stock has a market capitalization of $10.46 billion, a PE ratio of 10.22 and a beta of 1.10. The company has a current ratio of 0.97, a quick ratio of 0.91 and a debt-to-equity ratio of 3.63.

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

AES Dividend Announcement

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

Analyst Ratings Changes

A number of analysts have recently issued reports on AES shares. Barclays boosted their target price on AES from $22.00 to $23.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Evercore ISI raised shares of AES to a “strong-buy” rating in a research report on Wednesday, September 18th. Finally, Jefferies Financial Group began coverage on shares of AES in a research report on Wednesday, September 11th. They issued a “buy” rating and a $20.00 price objective for the company. One analyst has rated the stock with a sell rating, two have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $22.57.

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.