AES Corp (AES) Given Average Rating of “Hold” by Brokerages
Shares of AES Corp (NYSE:AES) have been assigned an average rating of “Hold” from the eight research firms that are presently covering the firm, Marketbeat reports. Two analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $13.30.
Several research firms have commented on AES. Morgan Stanley increased their target price on AES from $13.50 to $14.00 and gave the company a “hold” rating in a research report on Friday, September 21st. Zacks Investment Research downgraded AES from a “hold” rating to a “sell” rating in a research report on Tuesday, July 10th. Bank of America downgraded AES from a “neutral” rating to an “underperform” rating and set a $12.50 target price for the company. in a research report on Monday, July 2nd. Finally, UBS Group increased their target price on AES from $12.00 to $13.00 and gave the company a “neutral” rating in a research report on Wednesday, June 20th.
A number of institutional investors have recently bought and sold shares of the business. Glenmede Trust Co. NA raised its position in shares of AES by 1,298.6% during the second quarter. Glenmede Trust Co. NA now owns 3,615,242 shares of the utilities provider’s stock worth $48,481,000 after acquiring an additional 3,356,756 shares during the last quarter. WBI Investments Inc. bought a new position in shares of AES during the second quarter worth about $40,420,000. Bank of America Corp DE raised its position in shares of AES by 56.6% during the second quarter. Bank of America Corp DE now owns 7,987,170 shares of the utilities provider’s stock worth $107,107,000 after acquiring an additional 2,887,388 shares during the last quarter. Hexavest Inc. bought a new position in shares of AES during the second quarter worth about $36,387,000. Finally, Bank of Montreal Can raised its position in shares of AES by 69.7% during the second quarter. Bank of Montreal Can now owns 4,072,594 shares of the utilities provider’s stock worth $54,614,000 after acquiring an additional 1,672,483 shares during the last quarter. Hedge funds and other institutional investors own 96.61% of the company’s stock.
AES (NYSE:AES) last posted its earnings results on Tuesday, August 7th. The utilities provider reported $0.25 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.03). The firm had revenue of $2.54 billion during the quarter, compared to the consensus estimate of $3.41 billion. AES had a negative net margin of 1.87% and a positive return on equity of 19.26%. research analysts expect that AES will post 1.21 earnings per share for the current fiscal year.
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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