The AES Corporation (AES) Posts Earnings Results, Misses Expectations By $0.05 EPS
The AES Corporation (NYSE:AES) released its earnings results on Thursday. The utilities provider reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.05), Bloomberg Earnings reports. The firm had revenue of $3.63 billion for the quarter, compared to the consensus estimate of $3.63 billion. The AES Corporation had a positive return on equity of 15.86% and a negative net margin of 5.30%. The company’s revenue was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.32 EPS. The AES Corporation updated its FY17 guidance to $1.00-1.10 EPS.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Wednesday, November 1st will be issued a $0.12 dividend. The ex-dividend date is Tuesday, October 31st. This represents a $0.48 dividend on an annualized basis and a yield of 4.52%. The AES Corporation’s dividend payout ratio is presently -42.10%.
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A number of research firms have recently weighed in on AES. BidaskClub upgraded The AES Corporation from a “strong sell” rating to a “sell” rating in a research report on Wednesday, August 23rd. Zacks Investment Research upgraded The AES Corporation from a “hold” rating to a “buy” rating and set a $13.00 target price for the company in a research report on Thursday, August 24th. ValuEngine downgraded The AES Corporation from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Morgan Stanley restated an “equal weight” rating on shares of The AES Corporation in a research report on Monday, July 10th. Finally, Royal Bank Of Canada restated a “hold” rating and set a $12.00 target price on shares of The AES Corporation in a research report on Monday, September 11th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $12.63.
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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