The AES Corporation (AES) Upgraded to “Buy” by ValuEngine
ValuEngine upgraded shares of The AES Corporation (NYSE:AES) from a hold rating to a buy rating in a research report released on Monday morning.
Several other equities research analysts have also recently issued reports on the stock. Morgan Stanley reissued an equal weight rating on shares of The AES Corporation in a research report on Monday, July 10th. SunTrust Banks, Inc. reaffirmed a buy rating and set a $15.00 target price on shares of The AES Corporation in a research report on Wednesday, September 13th. Zacks Investment Research raised shares of The AES Corporation from a hold rating to a buy rating and set a $13.00 target price on the stock in a research report on Thursday, August 17th. BidaskClub downgraded shares of The AES Corporation from a sell rating to a strong sell rating in a research note on Monday, July 31st. Finally, Royal Bank Of Canada reaffirmed a hold rating and set a $12.00 price target on shares of The AES Corporation in a research note on Monday, September 11th. Four analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. The stock has an average rating of Hold and an average target price of $12.40.
The AES Corporation (AES) opened at 11.09 on Monday. The stock’s market cap is $7.32 billion. The firm’s 50 day moving average price is $11.19 and its 200-day moving average price is $11.31. The AES Corporation has a 12-month low of $10.60 and a 12-month high of $12.48.
The AES Corporation (NYSE:AES) last posted its quarterly earnings results on Tuesday, August 8th. The utilities provider reported $0.25 EPS for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.04. The firm had revenue of $3.47 billion for the quarter, compared to analysts’ expectations of $2.97 billion. The AES Corporation had a negative net margin of 5.30% and a positive return on equity of 15.86%. The business’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.17 earnings per share. Equities research analysts anticipate that The AES Corporation will post $1.05 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Ffcm LLC raised its holdings in shares of The AES Corporation by 171.8% in the 2nd quarter. Ffcm LLC now owns 10,495 shares of the utilities provider’s stock valued at $116,000 after purchasing an additional 6,634 shares in the last quarter. Jane Street Group LLC purchased a new stake in shares of The AES Corporation in the 1st quarter worth approximately $117,000. Community Bank & Trust Waco Texas purchased a new stake in shares of The AES Corporation in the 2nd quarter worth approximately $134,000. Pacer Advisors Inc. lifted its position in shares of The AES Corporation by 3.1% in the 1st quarter. Pacer Advisors Inc. now owns 13,437 shares of the utilities provider’s stock worth $150,000 after purchasing an additional 402 shares during the period. Finally, Huntington National Bank lifted its position in shares of The AES Corporation by 62.7% in the 2nd quarter. Huntington National Bank now owns 14,257 shares of the utilities provider’s stock worth $158,000 after purchasing an additional 5,492 shares during the period. 93.18% of the stock is currently owned by institutional investors and hedge funds.
About The AES Corporation
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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