Why AES Corp. (NYSE: AES) Is A Stock Not To Be Discarded In 2024


In the last trading session, 8.75 million shares of the AES Corp. (NYSE:AES) were traded, and its beta was 1.07. Most recently the company’s share price was $18.07, and it changed around $0.14 or 0.78% from the last close, which brings the market valuation of the company to $12.83B. AES currently trades at a discount to its 52-week high of $25.74, offering almost -42.45% off that amount. The share price’s 52-week low was $11.43, which indicates that the current value has risen by an impressive 36.75% since then. We note from AES Corp.’s average daily trading volume that its 10-day average is 13.46 million shares, with the 3-month average coming to 8.45 million.

AES Corp. stock received a consensus recommendation rating of Buy, based on a mean score of 1.69. If we narrow it down even further, the data shows that 0 out of 9 analysts rate the stock as a Sell; another 1 rate it as Overweight. Among the rest, 4 recommended AES as a Hold, whereas 4 deemed it a Buy, and 0 rated it as Underweight. AES Corp. is expected to report earnings per share of $0.3 for the current quarter.

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AES Corp. (NYSE:AES) trade information

Instantly AES has showed a green trend with a performance of 0.78% at the end of last trading. The performance over the last five days has remained in the green territory. The company’s shares are currently down -6.13% year-to-date, but still up 11.27% over the last five days. On the other hand, AES Corp. (NYSE:AES) is 18.88% up in the 30-day period. We can see from the shorts that 11.22 million shares have been sold at a short interest cover period of 1.12 day(s).

The consensus price target as assigned by Wall Street analysts is $30.2, which translates to bulls needing to increase their stock price by 40.17% from its current value. Analyst projections state that AES is forecast to be at a low of $25 and a high of $36.

AES Corp. (AES) estimates and forecasts

AES Corp. share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 21.44 percent over the past six months and at a 7.95% annual growth rate that is well above the industry average of 6.00%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 36.40% in revenue this quarter, and will report an increase of 47.60% in the next quarter. The year-over-year growth rate is expected to be 2.30%, up from the previous year.

Consensus estimates provided by 3 financial analysts predict the company will bring in an average of $3.15 billion in revenue for the current quarter. 3 analysts expect AES Corp. to make $3.09 billion in revenue for the quarter ending Jun 2024. The company’s sales for the same quarters a year ago were $3.24 billion and $3.03 billion respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -2.80%. Forecasts for the next quarter put sales growth at 2.10%.

Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -25.72%. AES Corp. earnings are expected to increase by 8.42% in 2024, but the outlook is positive 7.50% per year for the next five years.

AES Dividends

AES Corp.’s next quarterly earnings report is expected to be released around May 02 and May 06. The annual dividend yield of the stock is 3.71 percent and its annual dividend per share was 0.67. It is important to note, however, that the 3.71% dividend yield ratio should be regarded as a guide only, as many other factors should be taken into consideration before making any investment decision.

AES Corp. (NYSE:AES)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 0.51% of AES Corp. shares, and 94.03% of them are in the hands of institutional investors. The stock currently has a share float of 94.51%. AES Corp. stock is held by 879 institutions, with Vanguard Group Inc being the largest institutional investor. By Jun 29, 2023, it held 13.58% of the shares, which is about 90.93 million shares worth $1.88 billion.

Capital International Investors, with 9.47% or 63.42 million shares worth $1.31 billion as of Jun 29, 2023, holds the second largest percentage of outstanding shares.

Fundamental Investors Inc and Income Fund of America Inc were the top two Mutual Funds as of Sep 29, 2023. The former held 21.76 million shares worth $330.81 million, making up 3.25% of all outstanding shares. On the other hand, Income Fund of America Inc held roughly 21.67 million shares worth around $329.44 million, which represents about 3.24% of the total shares outstanding.