The AES Corporation (NYSE:AES) issued its earnings results on Tuesday, August 8th. The utilities provider reported $0.25 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.04, Bloomberg Earnings reports. The AES Corporation had a positive return on equity of 15.86% and a negative net margin of 5.30%. The business had revenue of $3.47 billion for the quarter, compared to analysts’ expectations of $2.97 billion. During the same period in the previous year, the firm posted $0.17 EPS. The business’s revenue for the quarter was up 7.5% compared to the same quarter last year. The AES Corporation updated its FY17 guidance to $1.00-1.10 EPS.
Shares of The AES Corporation (AES) opened at 11.07 on Friday. The AES Corporation has a 52-week low of $10.60 and a 52-week high of $13.32. The stock’s 50 day moving average price is $11.12 and its 200-day moving average price is $11.36. The stock’s market cap is $7.31 billion.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 17th. Stockholders of record on Thursday, August 3rd were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 4.34%. The ex-dividend date of this dividend was Tuesday, August 1st. The AES Corporation’s dividend payout ratio is currently -42.10%.
A number of research analysts recently commented on AES shares. Zacks Investment Research upgraded The AES Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, May 2nd. BidaskClub cut The AES Corporation from a “hold” rating to a “sell” rating in a report on Saturday, June 24th. ValuEngine upgraded The AES Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, July 25th. Finally, Morgan Stanley reiterated an “equal weight” rating on shares of The AES Corporation in a report on Monday, July 10th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. The AES Corporation presently has a consensus rating of “Hold” and a consensus price target of $12.00.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Ffcm LLC raised its position in The AES Corporation by 171.8% in the second quarter. Ffcm LLC now owns 10,495 shares of the utilities provider’s stock valued at $116,000 after buying an additional 6,634 shares during the period. Jane Street Group LLC purchased a new position in The AES Corporation during the first quarter worth about $117,000. IFP Advisors Inc raised its position in 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 during the last quarter. HRT Financial LLC purchased a new position in The AES Corporation during the first quarter worth about $132,000. Finally, Community Bank & Trust Waco Texas purchased a new position in The AES Corporation during the second quarter worth about $134,000. 93.49% of the stock is owned by institutional investors and hedge funds.
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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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