AES Corp. Stock Rating Reaffirmed by Morgan Stanley (AES)
AES Corp. (NYSE:AES)‘s stock had its “equal weight” rating restated by analysts at Morgan Stanley in a research report issued to clients and investors on Thursday. They currently have a $16.00 price objective on the stock. Morgan Stanley’s price objective points to a potential upside of 4.44% from the stock’s previous close.
The analysts wrote, “Sale of Philippines stake is constructive and supports the improving cash flow story. We view the partial sale of AES’ Philippines business as a positive for shares, as the proceeds could lead to increased share buybacks and/or growth investment beyond our current projections. We also believe this is a constructive development since it supports the company’s strategic initiative to unlock shareholder value and simplify the business.”
Shares of AES Corp. (NYSE:AES) traded up 1.14% during mid-day trading on Thursday, hitting $15.495. The stock had a trading volume of 1,458,847 shares. AES Corp. has a 52-week low of $11.62 and a 52-week high of $15.54. The stock has a 50-day moving average of $14.29 and a 200-day moving average of $14.21. The company’s market cap is $11.239 billion.
AES Corp. (NYSE:AES) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by $0.03. The company had revenue of $4.26 billion for the quarter, compared to the consensus estimate of $4.37 billion. During the same quarter in the previous year, the company posted $0.26 earnings per share. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. Analysts expect that AES Corp. will post $1.34 EPS for the current fiscal year.
Separately, analysts at Zacks reiterated a “neutral” rating on shares of AES Corp. in a research note on Friday, June 6th. They now have a $15.00 price target on the stock. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. AES Corp. presently has an average rating of “Buy” and an average target price of $16.10.
The AES Corporation (NYSE:AES) owns a portfolio of electricity generation and distribution businesses on five continents in 27 countries, with total capacity of approximately 44,200 megawatts and distribution networks.
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