AES (NYSE:AES) Updates FY 2024 Earnings Guidance

AES (NYSE:AES) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 1.920-1.970 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 stock traded down $0.78 on Friday, hitting $17.13. The company’s stock had a trading volume of 10,660,581 shares, compared to its average volume of 7,761,461. AES has a fifty-two week low of $11.43 and a fifty-two week high of $22.21. The company has a market capitalization of $12.17 billion, a PE ratio of 23.79 and a beta of 1.08. The stock’s 50 day moving average is $18.71 and its 200-day moving average is $17.80. The company has a debt-to-equity ratio of 4.04, a quick ratio of 0.71 and a current ratio of 0.78.

AES (NYSE:AES) last announced its earnings results on Thursday, August 1st. The utilities provider reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. AES had a net margin of 6.07% and a return on equity of 35.44%. The firm had revenue of $2.94 billion for the quarter, compared to analyst estimates of $3.22 billion. The business’s revenue was down 2.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.21 EPS. Equities research analysts expect that AES will post 1.91 earnings per share for the current fiscal year.

AES Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st will be issued a dividend of $0.1725 per share. This represents a $0.69 annualized dividend and a dividend yield of 4.03%. The ex-dividend date of this dividend is Thursday, August 1st. AES’s dividend payout ratio (DPR) is currently 95.83%.

Analyst Ratings Changes

A number of brokerages have issued reports on AES. Barclays reduced their price objective on shares of AES from $23.00 to $22.00 and set an overweight rating on the stock in a research note on Monday, July 22nd. Royal Bank of Canada reissued an outperform rating and issued a $22.00 price objective on shares of AES in a research note on Tuesday, April 9th. Seaport Res Ptn cut AES from a strong-buy rating to a hold rating in a research note on Tuesday, May 21st. Finally, Mizuho lifted their price target on AES from $21.00 to $24.00 and gave the company a buy rating in a research note on Friday, May 17th. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $21.71.

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.