The AES Corporation (AES) Posts Earnings Results, Beats Expectations By $0.04 EPS
The AES Corporation (NYSE:AES) posted its quarterly earnings data on Tuesday. The utilities provider reported $0.25 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.21 by $0.04, Bloomberg Earnings reports. The AES Corporation had a negative net margin of 9.27% and a positive return on equity of 14.71%. The company had revenue of $3.47 billion for the quarter, compared to the consensus estimate of $2.97 billion. During the same period last year, the company earned $0.17 earnings per share. The firm’s revenue was up 7.5% compared to the same quarter last year. The AES Corporation updated its FY17 guidance to $1.00-1.10 EPS.
The AES Corporation (AES) opened at 11.10 on Tuesday. The AES Corporation has a one year low of $10.60 and a one year high of $13.32. The firm’s market capitalization is $7.33 billion. The company’s 50-day moving average is $11.32 and its 200-day moving average is $11.39.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 17th. Stockholders of record on Thursday, August 3rd will be issued a $0.12 dividend. The ex-dividend date is Tuesday, August 1st. This represents a $0.48 dividend on an annualized basis and a dividend yield of 4.32%. The AES Corporation’s dividend payout ratio (DPR) is presently -24.62%.
Several institutional investors have recently modified their holdings of AES. Jane Street Group LLC purchased a new position in shares of The AES Corporation during the first quarter worth about $117,000. IFP Advisors Inc boosted its position in shares of The AES Corporation by 94.0% in the first quarter. IFP Advisors Inc now owns 11,329 shares of the utilities provider’s stock worth $127,000 after buying an additional 5,489 shares in the last quarter. HRT Financial LLC purchased a new position in shares of The AES Corporation during the first quarter worth about $132,000. Pacer Advisors Inc. boosted its position in shares of The AES Corporation by 3.1% in the first quarter. Pacer Advisors Inc. now owns 13,437 shares of the utilities provider’s stock worth $150,000 after buying an additional 402 shares in the last quarter. Finally, Huntington National Bank boosted its position in shares of The AES Corporation by 62.7% in the second quarter. Huntington National Bank now owns 14,257 shares of the utilities provider’s stock worth $158,000 after buying an additional 5,492 shares in the last quarter. Institutional investors own 93.57% of the company’s stock.
A number of analysts have recently issued reports on AES shares. ValuEngine upgraded shares of The AES Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, July 25th. Zacks Investment Research upgraded shares of The AES Corporation from a “hold” rating to a “buy” rating and set a $12.00 price objective on the stock in a report on Wednesday, July 12th. Morgan Stanley reiterated an “equal weight” rating on shares of The AES Corporation in a report on Monday, July 10th. Finally, BidaskClub upgraded shares of The AES Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, June 14th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $11.75.
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The AES Corporation 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. It is organized into six strategic business units (SBUs): the United States; Andes; Brazil; Mexico, Central America and the Caribbean (MCAC); Europe, and Asia.
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