AES (AES) Posts Quarterly Earnings Results, Misses Estimates By $0.02 EPS

AES (NYSE:AES) issued its quarterly earnings results on Tuesday, May 7th. The utilities provider reported $0.28 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.30 by ($0.02), MarketWatch Earnings reports. The business had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.47 billion. AES had a net margin of 6.32% and a return on equity of 19.05%. The business’s quarterly revenue was down 3.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.28 EPS. AES updated its FY 2019 guidance to $1.28-1.40 EPS and its FY19 guidance to $1.28-1.40 EPS.

NYSE:AES traded down $0.17 during midday trading on Thursday, hitting $15.89. 3,985,000 shares of the company were exchanged, compared to its average volume of 5,999,087. AES has a fifty-two week low of $12.30 and a fifty-two week high of $18.52. The company has a debt-to-equity ratio of 3.27, a current ratio of 1.34 and a quick ratio of 1.21. The firm has a market capitalization of $10.85 billion, a P/E ratio of 12.81, a P/E/G ratio of 1.56 and a beta of 1.04.

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st were paid a dividend of $0.1365 per share. The ex-dividend date was Tuesday, April 30th. This represents a $0.55 annualized dividend and a yield of 3.44%. AES’s dividend payout ratio is currently 44.35%.

AES has been the subject of several recent analyst reports. Zacks Investment Research cut shares of AES from a “buy” rating to a “hold” rating in a research report on Friday, May 3rd. Argus raised shares of AES from a “hold” rating to a “buy” rating in a research report on Wednesday, May 22nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $14.50.

In other AES news, Director Jeffrey W. Ubben acquired 2,482,000 shares of the company’s stock in a transaction on Thursday, May 9th. The shares were bought at an average cost of $16.11 per share, for a total transaction of $39,985,020.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jeffrey W. Ubben acquired 2,582,000 shares of the company’s stock in a transaction on Monday, May 13th. The stock was acquired at an average price of $16.10 per share, for a total transaction of $41,570,200.00. The disclosure for this purchase can be found here. 1.06% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of AES. Premia Global Advisors LLC acquired a new position in shares of AES during the first quarter worth about $29,000. Cullen Frost Bankers Inc. acquired a new position in shares of AES during the first quarter worth about $30,000. Kore Private Wealth LLC purchased a new stake in AES during the first quarter worth about $33,000. Arcadia Investment Management Corp MI purchased a new stake in AES during the fourth quarter worth about $29,000. Finally, Reilly Financial Advisors LLC purchased a new stake in AES during the first quarter worth about $36,000. Institutional investors own 93.80% of the company’s stock.

COPYRIGHT VIOLATION WARNING: This news story was first published by Rockland Register and is the property of of Rockland Register. If you are viewing this news story on another publication, it was illegally copied and reposted in violation of United States and international copyright and trademark law. The legal version of this news story can be viewed at https://rocklandregister.com/2019/05/30/aes-aes-releases-quarterly-earnings-results-misses-expectations-by-0-02-eps.html.

About AES

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.

See Also: Why do companies pay special dividends?

Earnings History for AES (NYSE:AES)

Receive News & Ratings for AES Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AES and related companies with MarketBeat.com's FREE daily email newsletter.