Barclays PLC downgraded shares of The AES Corp. (NYSE:AES) from an overweight rating to an equal weight rating in a research note released on Tuesday. The brokerage currently has $12.00 price target on the stock, down from their prior price target of $14.00.
Several other analysts have also weighed in on AES. TheStreet raised The AES Corp. from a hold rating to a buy rating in a research note on Friday, June 10th. Zacks Investment Research lowered The AES Corp. from a hold rating to a sell rating in a research note on Tuesday, June 14th. Finally, JPMorgan Chase & Co. reaffirmed a buy rating on shares of The AES Corp. in a research note on Thursday, June 16th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The AES Corp. presently has an average rating of Hold and a consensus target price of $12.75.
Shares of The AES Corp. (NYSE:AES) opened at 11.66 on Tuesday. The stock has a 50 day moving average price of $12.50 and a 200-day moving average price of $11.85. The AES Corp. has a 52 week low of $8.22 and a 52 week high of $13.32. The company’s market capitalization is $7.68 billion.
The AES Corp. (NYSE:AES) last released its earnings results on Friday, August 5th. The company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.01. The company had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.71 billion. The AES Corp. had a positive return on equity of 13.56% and a negative net margin of 1.89%. The AES Corp.’s quarterly revenue was down 11.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.25 EPS. Equities research analysts expect that The AES Corp. will post $0.99 EPS for the current year.
Several hedge funds have recently made changes to their positions in the stock. Aperio Group LLC raised its stake in shares of The AES Corp. by 17.2% in the first quarter. Aperio Group LLC now owns 332,540 shares of the company’s stock worth $3,924,000 after buying an additional 48,707 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. raised its stake in shares of The AES Corp. by 18.5% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 605,855 shares of the company’s stock worth $7,149,000 after buying an additional 94,620 shares during the last quarter. TIAA CREF Investment Management LLC raised its stake in shares of The AES Corp. by 21.3% in the first quarter. TIAA CREF Investment Management LLC now owns 2,164,300 shares of the company’s stock worth $25,539,000 after buying an additional 379,972 shares during the last quarter. Teachers Advisors Inc. raised its stake in shares of The AES Corp. by 18.8% in the first quarter. Teachers Advisors Inc. now owns 825,675 shares of the company’s stock worth $9,743,000 after buying an additional 130,800 shares during the last quarter. Finally, Rehmann Capital Advisory Group purchased a new stake in shares of The AES Corp. during the first quarter worth approximately $206,000. 94.55% of the stock is currently owned by hedge funds and other institutional investors.
About The AES Corp.
The AES Corporation is a holding company. The Company, through its subsidiaries and affiliates, operates a diversified portfolio of electricity generation and distribution businesses. The Company is organized into six strategic business units (SBUs): the United States; Andes; Brazil; Mexico, Central America and Caribbean (MCAC); Europe, and Asia.
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