AES (NYSE:AES) Shares Down 4.5% - Here's Why

Shares of The AES Corporation (NYSE:AES - Get Free Report) were down 4.5% during trading on Thursday . The company traded as low as $12.64 and last traded at $12.67. Approximately 12,247,249 shares were traded during mid-day trading, a decline of 10% from the average daily volume of 13,606,048 shares. The stock had previously closed at $13.26.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. JPMorgan Chase & Co. cut their price target on shares of AES from $16.00 to $14.00 and set an "overweight" rating on the stock in a research note on Thursday, April 24th. Argus reiterated a "hold" rating on shares of AES in a research note on Tuesday, May 27th. Wells Fargo & Company raised their price objective on AES from $108.00 to $112.00 in a research note on Friday, May 2nd. HSBC reduced their price target on shares of AES from $15.00 to $14.00 in a research report on Monday, May 5th. Finally, Jefferies Financial Group lowered shares of AES from a "hold" rating to an "underperform" rating and cut their price objective for the stock from $10.00 to $9.00 in a research note on Tuesday, May 20th. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, AES currently has an average rating of "Moderate Buy" and a consensus target price of $24.22.

AES Stock Down 5.4%

The company has a debt-to-equity ratio of 3.42, a current ratio of 0.84 and a quick ratio of 0.78. The business's 50 day moving average price is $10.86 and its 200 day moving average price is $11.23. The firm has a market cap of $8.93 billion, a PE ratio of 6.83, a PEG ratio of 1.48 and a beta of 0.95.

AES (NYSE:AES - Get Free Report) last released its earnings results on Thursday, May 1st. The utilities provider reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.10). AES had a net margin of 10.67% and a return on equity of 18.06%. The firm had revenue of $2.93 billion during the quarter, compared to analysts' expectations of $3.13 billion. During the same quarter last year, the business earned $0.60 EPS. The business's revenue was down 5.2% compared to the same quarter last year. On average, equities research analysts expect that The AES Corporation will post 1.93 earnings per share for the current year.

Hedge Funds Weigh In On AES

Several hedge funds and other institutional investors have recently modified their holdings of the business. Optiver Holding B.V. lifted its stake in AES by 79.5% in the 4th quarter. Optiver Holding B.V. now owns 2,711 shares of the utilities provider's stock worth $35,000 after purchasing an additional 1,201 shares in the last quarter. Garde Capital Inc. acquired a new stake in shares of AES in the first quarter valued at approximately $35,000. CVA Family Office LLC boosted its stake in AES by 200.6% during the first quarter. CVA Family Office LLC now owns 3,250 shares of the utilities provider's stock worth $40,000 after buying an additional 2,169 shares during the last quarter. Headlands Technologies LLC purchased a new stake in AES in the 1st quarter valued at $40,000. Finally, McIlrath & Eck LLC increased its stake in shares of AES by 760.4% in the 4th quarter. McIlrath & Eck LLC now owns 3,347 shares of the utilities provider's stock worth $43,000 after acquiring an additional 2,958 shares during the last quarter. 93.13% of the stock is owned by hedge funds and other institutional investors.

AES Company Profile

The AES Corporation, together with its subsidiaries, operates as a diversified power generation and utility company in the United States and internationally. The company owns and/or operates power plants to generate and sell power to customers, such as utilities, industrial users, and other intermediaries; 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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