The AES Corp. (AES) Debt Trading 3.2% Lower
An issue of The AES Corp. (NYSE:AES) debt fell 3.2% against its face value during trading on Monday. The high-yield issue of debt has a 6.75% coupon and will mature on October 1, 2019. The debt is now trading at $103.38. Price changes in a company’s debt in credit markets often predict parallel changes in its share price.
Several research analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of The AES Corp. from a “sell” rating to a “hold” rating in a report on Tuesday, June 21st. Barclays PLC cut shares of The AES Corp. from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $14.00 to $12.00 in a report on Tuesday, October 4th. Finally, TheStreet cut shares of The AES Corp. from a “buy” rating to a “hold” rating in a report on Friday, August 5th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $12.75.
Shares of The AES Corp. (NYSE:AES) opened at 11.71 on Tuesday. The company’s market cap is $7.72 billion. The stock has a 50 day moving average of $12.39 and a 200-day moving average of $11.85. The AES Corp. has a 12 month low of $8.22 and a 12 month high of $13.32.
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The AES Corp. (NYSE:AES) last issued its quarterly earnings data on Friday, August 5th. The company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.01. The business earned $3.23 billion during the quarter, compared to analyst estimates of $3.71 billion. The AES Corp. had a negative net margin of 1.89% and a positive return on equity of 13.56%. The firm’s quarterly revenue was down 11.7% on a year-over-year basis. During the same quarter last year, the business earned $0.25 EPS. On average, analysts forecast that The AES Corp. will post $0.99 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 15th. Shareholders of record on Tuesday, November 1st will be issued a dividend of $0.11 per share. The ex-dividend date of this dividend is Friday, October 28th. This represents a $0.44 annualized dividend and a yield of 3.76%. The AES Corp.’s payout ratio is -107.31%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Tocqueville Asset Management L.P. purchased a new position in The AES Corp. during the second quarter valued at about $133,000. Invictus RG raised its position in The AES Corp. by 21.9% in the first quarter. Invictus RG now owns 11,906 shares of the company’s stock valued at $140,000 after buying an additional 2,140 shares during the last quarter. Silvercrest Asset Management Group LLC purchased a new position in The AES Corp. during the first quarter valued at about $142,000. Nuveen Fund Advisors LLC purchased a new position in The AES Corp. during the second quarter valued at about $192,000. Finally, Tredje AP fonden purchased a new position in The AES Corp. during the second quarter valued at about $234,000. Hedge funds and other institutional investors own 94.57% of the company’s stock.
The AES Corp. Company Profile
The AES Corporation is a holding company. The Company, through its subsidiaries and affiliates, operates a diversified portfolio of electricity generation and distribution businesses. The Company is organized into six strategic business units (SBUs): the United States; Andes; Brazil; Mexico, Central America and Caribbean (MCAC); Europe, and Asia.
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