AES (NYSE:AES) Sets New 52-Week Low Following Analyst Downgrade

Posted by Defense World Staff on Sep 8th, 2023

The AES Co. (NYSE:AES – Get Free Report) shares reached a new 52-week low during mid-day trading on Thursday after Royal Bank of Canada lowered their price target on the stock from $26.00 to $23.00. Royal Bank of Canada currently has an outperform rating on the stock. AES traded as low as $17.14 and last traded at $17.15, with a volume of 1140508 shares trading hands. The stock had previously closed at $17.43.

Other research analysts also recently issued research reports about the stock. Morgan Stanley reiterated an “overweight” rating and issued a $29.00 price objective on shares of AES in a research report on Friday, July 21st. UBS Group lowered their price target on AES from $30.00 to $27.00 in a research report on Tuesday, May 9th. StockNews.com raised AES to a “sell” rating in a research note on Thursday, August 31st. Bank of America cut shares of AES from a “buy” rating to a “neutral” rating and dropped their price target for the company from $24.00 to $23.00 in a research note on Thursday, June 22nd. Finally, Susquehanna reduced their price objective on shares of AES from $33.00 to $30.00 in a research report on Thursday, August 3rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $28.08.

Check Out Our Latest Stock Report on AES

Insider Buying and Selling

In related news, Director Maura Shaughnessy bought 12,500 shares of the stock in a transaction on Tuesday, August 8th. The stock was bought at an average price of $19.49 per share, with a total value of $243,625.00. Following the completion of the purchase, the director now directly owns 60,653 shares in the company, valued at approximately $1,182,126.97. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Maura Shaughnessy purchased 12,500 shares of the stock in a transaction dated Tuesday, August 8th. The stock was acquired at an average cost of $19.49 per share, for a total transaction of $243,625.00. Following the completion of the transaction, the director now directly owns 60,653 shares in the company, valued at approximately $1,182,126.97. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Alain Monie acquired 27,400 shares of the company’s stock in a transaction dated Wednesday, August 16th. The stock was purchased at an average cost of $18.27 per share, with a total value of $500,598.00. Following the completion of the purchase, the director now directly owns 28,725 shares of the company’s stock, valued at approximately $524,805.75. The disclosure for this purchase can be found here. Corporate insiders own 0.01% of the company’s stock.

Institutional Trading of AES

Hedge funds have recently made changes to their positions in the business. Coppell Advisory Solutions Corp. purchased a new stake in AES during the 4th quarter worth approximately $27,000. Gyon Technologies Capital Management LP purchased a new stake in shares of AES during the fourth quarter worth $32,000. Resurgent Financial Advisors LLC purchased a new position in AES in the fourth quarter valued at $34,000. Exchange Traded Concepts LLC purchased a new stake in AES during the 2nd quarter worth about $35,000. Finally, West Tower Group LLC acquired a new stake in AES in the 2nd quarter valued at about $35,000. Institutional investors and hedge funds own 94.49% of the company’s stock.

AES Stock Performance

The stock has a 50-day moving average price of $19.91 and a 200 day moving average price of $21.68. The company has a quick ratio of 0.84, a current ratio of 0.94 and a debt-to-equity ratio of 6.02. The firm has a market capitalization of $11.38 billion, a price-to-earnings ratio of -27.85, a P/E/G ratio of 1.17 and a beta of 0.98.

AES (NYSE:AES – Get Free Report) last posted its quarterly earnings results on Friday, August 4th. The utilities provider reported $0.21 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.04). AES had a positive return on equity of 36.65% and a negative net margin of 2.70%. The firm had revenue of $3.03 billion for the quarter, compared to analyst estimates of $3.08 billion. During the same quarter last year, the firm earned $0.34 EPS. The company’s revenue was down 1.7% on a year-over-year basis. On average, analysts forecast that The AES Co. will post 1.7 EPS for the current year.

AES Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 15th. Shareholders of record on Tuesday, August 1st were paid a $0.1659 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 3.91%. The ex-dividend date was Monday, July 31st. AES’s dividend payout ratio is presently -108.19%.

AES Company Profile

(Get Free Report)

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.