Bank of America Corp. cut shares of The AES Corp. (NYSE:AES) from a neutral rating to an underperform rating in a report published on Tuesday morning.
AES has been the subject of several other reports. Zacks Investment Research lowered shares of The AES Corp. from a hold rating to a sell rating in a research note on Tuesday, November 8th. Barclays PLC lowered shares of The AES Corp. from an overweight rating to an equal weight rating and decreased their price target for the stock from $14.00 to $12.00 in a research note on Tuesday, October 4th. Finally, TheStreet lowered shares of The AES Corp. from a buy rating to a hold rating in a research note on Friday, August 5th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. The company presently has a consensus rating of Hold and an average target price of $12.00.
Shares of The AES Corp. (NYSE:AES) opened at 11.34 on Tuesday. The stock has a 50 day moving average of $11.73 and a 200 day moving average of $11.96. The company’s market cap is $7.48 billion. The AES Corp. has a 52-week low of $8.22 and a 52-week high of $13.32.
The AES Corp. (NYSE:AES) last issued its quarterly earnings results on Friday, November 4th. The company reported $0.32 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.33 by $0.01. The business earned $209.90 billion during the quarter, compared to the consensus estimate of $3.15 billion. The AES Corp. had a positive return on equity of 14.01% and a negative net margin of 1.95%. The firm’s revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.39 earnings per share. On average, equities research analysts expect that The AES Corp. will post $0.99 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 15th. Investors of record on Tuesday, November 1st were paid a $0.11 dividend. The ex-dividend date of this dividend was Friday, October 28th. This represents a $0.44 annualized dividend and a dividend yield of 3.88%. The AES Corp.’s payout ratio is -107.31%.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Tocqueville Asset Management L.P. purchased a new stake in shares of The AES Corp. during the second quarter valued at approximately $133,000. Silvercrest Asset Management Group LLC purchased a new stake in shares of The AES Corp. during the first quarter valued at approximately $142,000. Nuveen Fund Advisors LLC purchased a new stake in shares of The AES Corp. during the second quarter valued at approximately $192,000. Tredje AP fonden purchased a new stake in shares of The AES Corp. during the second quarter valued at approximately $234,000. Finally, Toronto Dominion Bank increased its stake in shares of The AES Corp. by 430.7% in the third quarter. Toronto Dominion Bank now owns 19,249 shares of the company’s stock valued at $247,000 after buying an additional 15,622 shares during the period. Institutional investors own 95.13% of the company’s stock.
About The AES Corp.