Bank of America Corporation Upgrades The AES Corporation (AES) to “Buy”
The AES Corporation (NYSE:AES) was upgraded by equities researchers at Bank of America Corporation from a “neutral” rating to a “buy” rating in a research note issued on Monday.
Several other equities analysts have also issued reports on AES. BidaskClub raised The AES Corporation from a “strong sell” rating to a “sell” rating in a research report on Monday, July 24th. ValuEngine raised The AES Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, July 25th. Zacks Investment Research raised The AES Corporation from a “hold” rating to a “buy” rating and set a $13.00 target price for the company in a research report on Thursday, August 17th. Morgan Stanley reissued an “equal weight” rating on shares of The AES Corporation in a research report on Friday, September 8th. Finally, Royal Bank Of Canada reissued a “hold” rating and issued a $12.00 target price on shares of The AES Corporation in a research report on Monday, September 11th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $12.63.
The AES Corporation (NYSE:AES) opened at $10.23 on Monday. The company has a debt-to-equity ratio of 3.20, a current ratio of 0.99 and a quick ratio of 0.89. The stock has a market capitalization of $6,755.75, a PE ratio of 10.13, a PEG ratio of 1.03 and a beta of 1.22. The AES Corporation has a 52-week low of $10.00 and a 52-week high of $12.47.
The AES Corporation (NYSE:AES) last posted its quarterly earnings results on Thursday, November 2nd. The utilities provider reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.05). The company had revenue of $3.63 billion during the quarter, compared to analysts’ expectations of $3.63 billion. The AES Corporation had a positive return on equity of 15.14% and a negative net margin of 5.43%. The AES Corporation’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.32 EPS. research analysts expect that The AES Corporation will post 1.02 earnings per share for the current year.
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A number of large investors have recently modified their holdings of the business. Assenagon Asset Management S.A. bought a new stake in shares of The AES Corporation during the 3rd quarter valued at about $21,256,000. Parametric Portfolio Associates LLC grew its stake in shares of The AES Corporation by 60.6% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 2,756,793 shares of the utilities provider’s stock valued at $30,628,000 after purchasing an additional 1,040,302 shares during the period. Thompson Siegel & Walmsley LLC grew its stake in shares of The AES Corporation by 7.8% during the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 10,753,174 shares of the utilities provider’s stock valued at $118,500,000 after purchasing an additional 776,527 shares during the period. Teachers Advisors LLC grew its stake in shares of The AES Corporation by 75.9% during the 2nd quarter. Teachers Advisors LLC now owns 1,593,300 shares of the utilities provider’s stock valued at $17,702,000 after purchasing an additional 687,604 shares during the period. Finally, Quantitative Investment Management LLC bought a new stake in shares of The AES Corporation during the 2nd quarter valued at about $5,339,000. 94.25% of the stock is owned by institutional investors and hedge funds.
The AES Corporation Company Profile
The AES Corporation is a holding company. The Company, through its subsidiaries and affiliates, operates a diversified portfolio of electricity generation and distribution businesses. It is organized into six strategic business units (SBUs): the United States; Andes; Brazil; Mexico, Central America and the Caribbean (MCAC); Europe, and Asia.
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