The AES Corporation (NYSE:AES) released its quarterly earnings data on Tuesday, August 8th. The utilities provider reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.04, Bloomberg Earnings reports. The business had revenue of $3.47 billion for the quarter, compared to analyst estimates of $2.97 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 7.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.17 EPS. The AES Corporation updated its FY17 guidance to $1.00-1.10 EPS.
The AES Corporation (AES) opened at 11.07 on Friday. The AES Corporation has a 12 month low of $10.60 and a 12 month high of $13.32. The firm’s market cap is $7.31 billion. The firm’s 50-day moving average price is $11.12 and its 200-day moving average price is $11.36.
The firm also recently declared a quarterly dividend, which was paid on Thursday, August 17th. Shareholders of record on Thursday, August 3rd were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Tuesday, August 1st. This represents a $0.48 dividend on an annualized basis and a yield of 4.34%. The AES Corporation’s dividend payout ratio (DPR) is presently -42.10%.
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Several large investors have recently modified their holdings of AES. BlackRock Inc. boosted its stake in shares of The AES Corporation by 5,080.9% in the first quarter. BlackRock Inc. now owns 68,829,027 shares of the utilities provider’s stock worth $769,510,000 after buying an additional 67,500,500 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of The AES Corporation by 4.6% in the first quarter. Vanguard Group Inc. now owns 77,076,177 shares of the utilities provider’s stock worth $861,713,000 after buying an additional 3,406,863 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of The AES Corporation by 29.1% in the first quarter. Bank of New York Mellon Corp now owns 11,702,896 shares of the utilities provider’s stock worth $130,838,000 after buying an additional 2,638,095 shares in the last quarter. Prudential Financial Inc. boosted its stake in shares of The AES Corporation by 28.1% in the first quarter. Prudential Financial Inc. now owns 9,761,070 shares of the utilities provider’s stock worth $109,129,000 after buying an additional 2,142,100 shares in the last quarter. Finally, CHURCHILL MANAGEMENT Corp purchased a new stake in shares of The AES Corporation during the second quarter worth about $20,890,000. Institutional investors own 93.49% of the company’s stock.
Several brokerages recently commented on AES. Morgan Stanley reiterated an “equal weight” rating on shares of The AES Corporation in a report on Monday, July 10th. Zacks Investment Research upgraded The AES Corporation from a “hold” rating to a “buy” rating and set a $13.00 price objective on the stock in a report on Thursday. BidaskClub downgraded The AES Corporation from a “sell” rating to a “strong sell” rating in a report on Monday, July 31st. Finally, ValuEngine lowered The AES Corporation from a “buy” rating to a “hold” rating in a research report on Friday, June 30th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company’s stock. The AES Corporation has a consensus rating of “Hold” and a consensus target price of $12.00.
About The AES Corporation
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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