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

The AES Co. (NYSE:AES) – Research analysts at Seaport Res Ptn upped their FY2024 EPS estimates for shares of AES in a research report issued on Tuesday, October 22nd. Seaport Res Ptn analyst A. Storozynski now expects 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.

A number of other research firms have also weighed in on AES. Evercore ISI raised shares of AES to a “strong-buy” rating in a research report on Wednesday, September 18th. Jefferies Financial Group assumed coverage on AES in a research note on Wednesday, September 11th. They issued a “buy” rating and a $20.00 target price on the stock. Finally, Barclays increased their price target on AES from $22.00 to $23.00 and gave the company an “overweight” rating in a research report on Monday. One investment 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 stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $22.57.

AES Price Performance

Shares of NYSE:AES opened at $16.98 on Wednesday. AES has a 1-year low of $14.33 and a 1-year high of $22.21. The company has a current ratio of 0.97, a quick ratio of 0.91 and a debt-to-equity ratio of 3.63. The stock has a market cap of $12.07 billion, a PE ratio of 23.58 and a beta of 1.07. The stock’s fifty day simple moving average is $17.99 and its two-hundred day simple moving average is $18.32.

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

Institutional Trading of AES

A number of large investors have recently bought and sold shares of the company. CWM LLC grew its stake in shares of AES by 2.4% during the 2nd quarter. CWM LLC now owns 27,122 shares of the utilities provider’s stock worth $477,000 after acquiring an additional 628 shares during the period. Cromwell Holdings LLC increased its stake in shares of AES by 59.1% in the third quarter. Cromwell Holdings LLC now owns 1,723 shares of the utilities provider’s stock worth $35,000 after purchasing an additional 640 shares in the last quarter. Raymond James Trust N.A. raised 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 during the period. Rise Advisors LLC lifted its stake in shares of AES by 92.4% during the 2nd quarter. Rise Advisors LLC now owns 1,499 shares of the utilities provider’s stock valued at $26,000 after buying an additional 720 shares in the last quarter. Finally, Empirical Finance LLC boosted its holdings in AES by 4.7% in the 1st quarter. Empirical Finance LLC now owns 18,185 shares of the utilities provider’s stock worth $326,000 after buying an additional 823 shares during the period. 93.13% of the stock is owned by hedge funds and other institutional investors.

AES Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 1st will be paid a $0.1725 dividend. The ex-dividend date of this dividend is Friday, November 1st. This represents a $0.69 annualized dividend and a yield of 4.06%. AES’s payout ratio is 95.83%.

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.