AES (NYSE:AES) Updates FY 2020 Pre-Market Earnings Guidance

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AES (NYSE:AES) issued an update on its FY 2020
Pre-Market 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 $1.38. AES also updated its FY20 guidance to $1.32-1.42 EPS.

Shares of AES stock opened at $14.49 on Wednesday. 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 $9.53 billion, a price-to-earnings ratio of 32.93, a P/E/G ratio of 1.45 and a beta of 0.98. AES has a 1-year low of $8.11 and a 1-year high of $21.23. The firm’s 50-day moving average price is $13.03 and its two-hundred day moving average price is $16.02.

AES (NYSE:AES) last released its quarterly earnings results on Thursday, May 7th. The utilities provider reported $0.29 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.29. AES had a net margin of 2.97% and a return on equity of 23.42%. The business had revenue of $2.34 billion for the quarter, compared to analysts’ expectations of $2.73 billion. During the same period in the prior year, the firm earned $0.28 earnings per share. AES’s revenue was down 11.8% compared to the same quarter last year. As a group, equities research analysts predict that AES will post 1.38 EPS for the current year.

Several analysts have recently commented on AES shares. Seaport Global Securities started coverage on shares of AES in a research note on Wednesday, May 20th. They set a buy rating and a $17.00 price target on the stock. Bank of America raised shares of AES from a neutral rating to a buy rating and set a $15.00 price objective on the stock in a research note on Monday, March 30th. Morgan Stanley raised their price objective on shares of AES from $18.00 to $18.50 and gave the company an overweight rating in a research note on Wednesday, June 17th. ValuEngine cut shares of AES from a hold rating to a sell rating in a research note on Tuesday, April 21st. Finally, TheStreet raised shares of AES from a c rating to a b- rating in a research note on Thursday, May 7th. One equities research analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company. The company has a consensus rating of Buy and a consensus price target of $17.72.

In other news, Director Jeffrey W. Ubben bought 500,000 shares of the business’s stock in a transaction on Thursday, June 11th. The shares were bought at an average cost of $12.22 per share, for a total transaction of $6,110,000.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company 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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