AES (NYSE:AES) Trading Down 6.2% - What's Next?

Shares of The AES Co. (NYSE:AES - Get Free Report) dropped 6.2% during mid-day trading on Tuesday . The company traded as low as $10.76 and last traded at $10.76. Approximately 8,068,529 shares were traded during mid-day trading, a decline of 49% from the average daily volume of 15,771,552 shares. The stock had previously closed at $11.46.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on AES shares. JPMorgan Chase & Co. dropped their target price on AES from $16.00 to $14.00 and set an "overweight" rating for the company in a report on Thursday, April 24th. Citigroup lowered their price target on shares of AES from $23.00 to $14.00 and set a "buy" rating for the company in a research report on Friday, May 9th. Susquehanna reduced their target price on AES from $16.00 to $15.00 and set a "positive" rating on the stock in a report on Wednesday, March 5th. Seaport Res Ptn downgraded shares of AES from a "hold" rating to a "strong sell" rating in a research report on Monday, March 3rd. Finally, Jefferies Financial Group cut AES from a "hold" rating to an "underperform" rating and lowered their target price for the stock from $10.00 to $9.00 in a report on Tuesday, May 20th. Three research analysts have rated the stock with a sell rating, two have issued a hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, AES presently has a consensus rating of "Moderate Buy" and a consensus target price of $24.22.

AES Stock Down 9.1%

The company has a market cap of $7.41 billion, a price-to-earnings ratio of 7.24, a P/E/G ratio of 0.82 and a beta of 0.96. The stock's 50-day moving average is $10.64 and its 200-day moving average is $11.47. The company has a current ratio of 0.85, a quick ratio of 0.80 and a debt-to-equity ratio of 3.21.

AES (NYSE:AES - Get Free Report) last issued its earnings results on Thursday, May 1st. The utilities provider reported $0.27 earnings per share for the quarter, missing analysts' consensus estimates of $0.37 by ($0.10). AES had a return on equity of 27.30% and a net margin of 8.34%. The business had revenue of $2.93 billion for the quarter, compared to the consensus estimate of $3.13 billion. During the same quarter in the prior year, the business earned $0.60 EPS. AES's revenue for the quarter was down 5.2% compared to the same quarter last year. On average, analysts anticipate that The AES Co. will post 1.93 earnings per share for the current fiscal year.

Institutional Trading of AES

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Central Asset Investments & Management Holdings HK Ltd purchased a new position in AES during the 4th quarter valued at $489,000. RWC Asset Management LLP acquired a new stake in AES during the 4th quarter valued at approximately $4,762,000. Bank of New York Mellon Corp boosted its stake in shares of AES by 5.5% in the fourth quarter. Bank of New York Mellon Corp now owns 4,756,831 shares of the utilities provider's stock worth $61,220,000 after buying an additional 249,486 shares during the last quarter. Community Trust & Investment Co. increased its holdings in AES by 37.4% in the first quarter. Community Trust & Investment Co. now owns 291,418 shares of the utilities provider's stock valued at $3,619,000 after buying an additional 79,355 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in AES by 2.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,879,259 shares of the utilities provider's stock worth $88,536,000 after purchasing an additional 185,020 shares during the period. 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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