What is Seaport Res Ptn’s Forecast for AES FY2024 Earnings?

The AES Co. (NYSE:AES) – Research analysts at Seaport Res Ptn raised their FY2024 earnings per share estimates for shares of AES in a research note issued to investors on Tuesday, October 22nd. Seaport Res Ptn analyst A. Storozynski now anticipates that the utilities provider will post earnings per share of $1.94 for the year, up from their previous estimate of $1.92. The consensus estimate for AES’s current full-year earnings is $1.90 per share. Seaport Res Ptn also issued estimates for AES’s FY2025 earnings at $1.96 EPS, FY2026 earnings at $2.03 EPS and FY2027 earnings at $2.24 EPS.

AES (NYSE:AES) last announced its quarterly earnings data on Thursday, August 1st. The utilities provider reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.02. AES had a return on equity of 32.74% and a net margin of 6.07%. The firm had revenue of $2.94 billion during the quarter, compared to analysts’ expectations of $3.22 billion. During the same period in the previous year, the firm earned $0.21 EPS. The company’s quarterly revenue was down 2.8% compared to the same quarter last year.

A number of other equities research analysts have also weighed in on AES. Jefferies Financial Group initiated coverage on AES in a research report on Wednesday, September 11th. They set a “buy” rating and a $20.00 price objective on the stock. Barclays increased their price target on AES from $22.00 to $23.00 and gave the company an “overweight” rating in a research note on Monday. Finally, Evercore ISI raised AES to a “strong-buy” rating in a research note on Wednesday, September 18th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.57.

AES Trading Down 1.2 %

Shares of AES opened at $17.00 on Wednesday. The firm has a market cap of $12.08 billion, a price-to-earnings ratio of 23.61 and a beta of 1.07. AES has a 52-week low of $13.55 and a 52-week high of $22.21. The company has a debt-to-equity ratio of 3.63, a quick ratio of 0.91 and a current ratio of 0.97. The business’s fifty day moving average is $18.00 and its 200-day moving average is $18.34.

AES Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors 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 dividend yield of 4.06%. The ex-dividend date of this dividend is Friday, November 1st. AES’s payout ratio is 95.83%.

Institutional Trading of AES

A number of large investors have recently bought and sold shares of the company. CWM LLC increased its position in AES by 2.4% in the second quarter. CWM LLC now owns 27,122 shares of the utilities provider’s stock worth $477,000 after buying an additional 628 shares during the last quarter. Raymond James Trust N.A. grew its position in shares of AES by 1.6% in the second quarter. Raymond James Trust N.A. now owns 44,433 shares of the utilities provider’s stock valued at $781,000 after purchasing an additional 711 shares in the last quarter. Rise Advisors LLC grew its position in shares of AES by 92.4% in the second quarter. Rise Advisors LLC now owns 1,499 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 720 shares in the last quarter. Empirical Finance LLC boosted its stake in AES by 4.7% during the first quarter. Empirical Finance LLC now owns 18,185 shares of the utilities provider’s stock valued at $326,000 after buying an additional 823 shares during the period. Finally, SeaCrest Wealth Management LLC boosted its stake in AES by 3.2% during the third quarter. SeaCrest Wealth Management LLC now owns 26,301 shares of the utilities provider’s stock valued at $528,000 after buying an additional 826 shares during the period. 93.13% of the stock is owned by hedge funds and other institutional investors.

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.