The AES (AES) Price Target Cut to $12.50
The AES (NYSE:AES) had its price target lowered by equities research analysts at Morgan Stanley from $14.00 to $12.50 in a research note issued on Wednesday. The brokerage presently has an “equal weight” rating on the utilities provider’s stock. Morgan Stanley’s price target would suggest a potential upside of 16.60% from the stock’s previous close.
Several other analysts also recently issued reports on AES. Zacks Investment Research raised shares of The AES from a “hold” rating to a “buy” rating and set a $13.00 price objective for the company in a research report on Thursday, August 17th. BidaskClub raised shares of The AES from a “strong sell” rating to a “sell” rating in a research report on Wednesday, August 23rd. ValuEngine downgraded shares of The AES from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Royal Bank of Canada reissued a “hold” rating and set a $12.00 price target on shares of The AES in a research report on Monday, September 11th. Finally, SunTrust Banks reissued a “buy” rating and set a $15.00 price target on shares of The AES in a research report on Wednesday, September 13th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $12.70.
The AES (NYSE AES) traded down $0.14 during midday trading on Wednesday, reaching $10.72. 4,361,400 shares of the company traded hands, compared to its average volume of 5,329,626. The AES has a 52-week low of $10.00 and a 52-week high of $12.47. The company has a debt-to-equity ratio of 3.20, a current ratio of 0.99 and a quick ratio of 0.89. The stock has a market capitalization of $7,171.80, a price-to-earnings ratio of 10.75, a price-to-earnings-growth ratio of 1.30 and a beta of 1.21.
The AES (NYSE:AES) last posted its quarterly earnings results on Thursday, November 2nd. The utilities provider reported $0.24 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.29 by ($0.05). The AES had a negative net margin of 5.43% and a positive return on equity of 15.14%. The business had revenue of $3.63 billion during the quarter, compared to analysts’ expectations of $3.63 billion. During the same quarter in the previous year, the business posted $0.32 EPS. The company’s quarterly revenue was up 2.5% on a year-over-year basis. sell-side analysts anticipate that The AES will post 1.01 earnings per share for the current fiscal year.
In related news, COO Santos Bernerd Da bought 4,700 shares of the business’s stock in a transaction on Monday, November 13th. The shares were bought at an average cost of $10.60 per share, for a total transaction of $49,820.00. Following the completion of the purchase, the chief operating officer now owns 96,186 shares of the company’s stock, valued at approximately $1,019,571.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Thomas M. O’flynn bought 9,500 shares of the business’s stock in a transaction on Monday, November 13th. The stock was bought at an average price of $10.64 per share, for a total transaction of $101,080.00. Following the completion of the purchase, the chief financial officer now directly owns 219,131 shares of the company’s stock, valued at approximately $2,331,553.84. The disclosure for this purchase can be found here. Insiders acquired 38,832 shares of company stock worth $401,407 over the last quarter. 1.09% of the stock is currently owned by company insiders.
A number of hedge funds have recently bought and sold shares of AES. IFP Advisors Inc lifted its stake in The AES by 80.5% in the second quarter. IFP Advisors Inc now owns 20,452 shares of the utilities provider’s stock valued at $227,000 after buying an additional 9,123 shares during the last quarter. SG Americas Securities LLC raised its stake in shares of The AES by 464.4% during the second quarter. SG Americas Securities LLC now owns 262,845 shares of the utilities provider’s stock valued at $2,920,000 after purchasing an additional 216,274 shares in the last quarter. Everence Capital Management Inc. raised its stake in shares of The AES by 104.5% during the second quarter. Everence Capital Management Inc. now owns 28,654 shares of the utilities provider’s stock valued at $318,000 after purchasing an additional 14,640 shares in the last quarter. Community Bank & Trust Waco Texas bought a new stake in shares of The AES during the second quarter valued at about $134,000. Finally, Thompson Siegel & Walmsley LLC raised its stake in shares of The AES by 5.7% during the second quarter. Thompson Siegel & Walmsley LLC now owns 9,976,647 shares of the utilities provider’s stock valued at $110,841,000 after purchasing an additional 541,021 shares in the last quarter. Institutional investors own 93.80% of the company’s stock.
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The AES 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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