Brokerages Expect The AES Co. (NYSE:AES) Will Post Quarterly Sales of $2.61 Billion

Wall Street brokerages predict that The AES Co. (NYSE:AESGet Rating) will report $2.61 billion in sales for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for AES’s earnings, with estimates ranging from $2.43 billion to $2.79 billion. AES reported sales of $2.64 billion during the same quarter last year, which would suggest a negative year over year growth rate of 1.1%. The firm is expected to report its next quarterly earnings results before the market opens on Monday, January 1st.

According to Zacks, analysts expect that AES will report full year sales of $11.04 billion for the current fiscal year, with estimates ranging from $10.82 billion to $11.25 billion. For the next year, analysts expect that the company will post sales of $11.33 billion, with estimates ranging from $11.15 billion to $11.51 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow AES.

AES (NYSE:AESGet Rating) last issued its quarterly earnings results on Thursday, February 24th. The utilities provider reported $0.45 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.02. AES had a negative net margin of 4.61% and a positive return on equity of 31.10%. The company had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.63 billion. During the same quarter last year, the business posted $0.48 EPS. AES’s quarterly revenue was up 8.2% compared to the same quarter last year.

Several brokerages have commented on AES. StockNews.com began coverage on shares of AES in a report on Thursday, March 31st. They issued a “hold” rating for the company. Citigroup began coverage on shares of AES in a report on Tuesday, March 22nd. They issued a “buy” rating and a $27.00 price target for the company. Morgan Stanley lifted their price objective on shares of AES from $30.50 to $32.50 and gave the stock an “overweight” rating in a report on Wednesday. Seaport Res Ptn reaffirmed a “buy” rating on shares of AES in a report on Monday, April 4th. Finally, TheStreet downgraded shares of AES from a “b” rating to a “c-” rating in a research note on Tuesday, March 1st. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $29.79.

AES stock opened at $22.49 on Friday. AES has a 1-year low of $19.76 and a 1-year high of $28.50. The firm has a market capitalization of $15.01 billion, a price-to-earnings ratio of -34.60, a P/E/G ratio of 2.15 and a beta of 0.92. The company has a current ratio of 1.13, a quick ratio of 1.00 and a debt-to-equity ratio of 4.63. The firm has a 50 day simple moving average of $23.22 and a 200 day simple moving average of $23.61.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 13th. Investors of record on Friday, April 29th will be paid a dividend of $0.158 per share. This represents a $0.63 annualized dividend and a yield of 2.81%. The ex-dividend date is Thursday, April 28th. AES’s payout ratio is currently -96.92%.

In other AES news, CFO Stephen Coughlin acquired 47,000 shares of the company’s stock in a transaction that occurred on Friday, March 4th. The shares were acquired at an average price of $21.30 per share, with a total value of $1,001,100.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.77% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Allworth Financial LP lifted its stake in shares of AES by 9,238.5% in the first quarter. Allworth Financial LP now owns 1,214 shares of the utilities provider’s stock worth $31,000 after buying an additional 1,201 shares in the last quarter. Grove Bank & Trust bought a new position in AES during the first quarter valued at approximately $208,000. Inspire Investing LLC bought a new position in AES during the first quarter valued at approximately $2,263,000. Miller Howard Investments Inc. NY lifted its position in AES by 1.2% during the first quarter. Miller Howard Investments Inc. NY now owns 247,106 shares of the utilities provider’s stock valued at $6,358,000 after purchasing an additional 2,956 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in AES by 3.5% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 257,631 shares of the utilities provider’s stock valued at $6,629,000 after purchasing an additional 8,817 shares during the period. Hedge funds and other institutional investors own 94.12% of the company’s stock.

AES Company Profile (Get Rating)

The AES Corporation operates as a diversified power generation and utility company. It owns and/or operates power plants to generate and sell power to customers, such as utilities, industrial users, and other intermediaries. The company also owns and/or operates utilities to generate or purchase, distribute, transmit, and sell electricity to end-user customers in the residential, commercial, industrial, and governmental sectors; and generates and sells electricity on the wholesale market.

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Earnings History and Estimates for AES (NYSE:AES)

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