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AES (NYSE:AES) Updates FY20 Earnings Guidance

Posted on Tuesday, June 30th, 2020 by MarketBeat

AES (NYSE:AES) issued an update on its FY20 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $1.32-1.42 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.39. AES also updated its FY 2020 Pre-Market guidance to 1.32-1.42 EPS.

AES opened at $14.34 on Tuesday. The business has a 50 day moving average of $13.00 and a 200-day moving average of $16.04. The company has a current ratio of 1.06, a quick ratio of 0.97 and a debt-to-equity ratio of 4.00. The stock has a market capitalization of $9.14 billion, a price-to-earnings ratio of 32.59, a P/E/G ratio of 1.39 and a beta of 0.98. AES has a 1-year low of $8.11 and a 1-year high of $21.23.

AES (NYSE:AES) last issued its earnings results on Thursday, May 7th. The utilities provider reported $0.29 EPS for the quarter, meeting analysts' consensus estimates of $0.29. The business had revenue of $2.34 billion during the quarter, compared to analyst estimates of $2.73 billion. AES had a return on equity of 23.42% and a net margin of 2.97%. AES's revenue was down 11.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.28 earnings per share. Equities analysts predict that AES will post 1.38 EPS for the current year.

A number of research analysts recently commented on AES shares. TheStreet upgraded AES from a c rating to a b- rating in a research note on Thursday, May 7th. UBS Group upgraded AES from a neutral rating to a buy rating and cut their target price for the company from $21.00 to $16.00 in a research note on Monday, March 16th. Bank of America upgraded AES from a neutral rating to a buy rating and set a $15.00 target price for the company in a research note on Monday, March 30th. Morgan Stanley increased their price objective on AES from $18.00 to $18.50 and gave the stock an overweight rating in a research note on Wednesday, June 17th. Finally, Seaport Global Securities assumed coverage on AES in a research note on Wednesday, May 20th. They set a buy rating and a $17.00 price objective for the company. One investment analyst has rated the stock with a sell rating and nine have issued a buy rating to the stock. The stock has an average rating of Buy and an average target price of $17.72.

In other AES news, Director Jeffrey W. Ubben bought 500,000 shares of the firm's stock in a transaction dated Thursday, June 11th. The shares were bought at an average price of $12.22 per share, for a total transaction of $6,110,000.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.54% of the company's stock.

About AES

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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