The AES Corporation (NYSE:AES) Lifted to “Neutral” at Bank of America Corporation

The AES Corporation (NYSE:AES) was upgraded by Bank of America Corporation from an “underperform” rating to a “neutral” rating in a research report issued to clients and investors on Tuesday, October 24th, Marketbeat reports. The brokerage currently has a $11.50 price target on the utilities provider’s stock. Bank of America Corporation’s target price suggests a potential upside of 12.41% from the stock’s current price.

A number of other research firms also recently issued reports on AES. Zacks Investment Research upgraded shares of The AES Corporation from a “hold” rating to a “buy” rating and set a $13.00 target price for the company in a research report on Thursday, August 24th. BidaskClub upgraded shares of The AES Corporation from a “strong sell” rating to a “sell” rating in a research report on Wednesday, August 23rd. ValuEngine upgraded shares of The AES Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, July 25th. SunTrust Banks, Inc. reiterated a “buy” rating and issued a $15.00 price objective on shares of The AES Corporation in a research report on Wednesday, September 13th. Finally, Royal Bank of Canada reiterated a “hold” rating and issued a $12.00 price objective on shares of The AES Corporation in a research report on Monday, September 11th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $12.63.

The AES Corporation (NYSE:AES) traded down $0.07 during midday trading on Tuesday, reaching $10.23. 26,490,398 shares of the company were exchanged, compared to its average volume of 5,290,420. The firm has a market capitalization of $6,801.98, a P/E ratio of 10.20, a PEG ratio of 1.04 and a beta of 1.22. The AES Corporation has a 52 week low of $10.00 and a 52 week high of $12.47. The company has a quick ratio of 0.89, a current ratio of 0.99 and a debt-to-equity ratio of 3.20.

The AES Corporation (NYSE:AES) last posted its earnings results on Thursday, November 2nd. The utilities provider reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.05). The business had revenue of $3.63 billion for the quarter, compared to analyst estimates of $3.63 billion. The AES Corporation had a negative net margin of 5.43% and a positive return on equity of 15.14%. The company’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.32 earnings per share. equities analysts predict that The AES Corporation will post 1.02 earnings per share for the current year.

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Several institutional investors have recently modified their holdings of AES. Assenagon Asset Management S.A. acquired a new position in shares of The AES Corporation in the third quarter worth about $21,256,000. CHURCHILL MANAGEMENT Corp acquired a new position in shares of The AES Corporation during the 2nd quarter worth about $20,890,000. Parametric Portfolio Associates LLC raised its position in shares of The AES Corporation by 60.6% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 2,756,793 shares of the utilities provider’s stock worth $30,628,000 after purchasing an additional 1,040,302 shares during the last quarter. Thompson Siegel & Walmsley LLC raised its position in shares of The AES Corporation by 7.8% during the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 10,753,174 shares of the utilities provider’s stock worth $118,500,000 after purchasing an additional 776,527 shares during the last quarter. Finally, Teachers Advisors LLC raised its position in shares of The AES Corporation by 75.9% during the 2nd quarter. Teachers Advisors LLC now owns 1,593,300 shares of the utilities provider’s stock worth $17,702,000 after purchasing an additional 687,604 shares during the last quarter. Institutional investors and hedge funds own 93.11% of the company’s stock.

The AES Corporation Company Profile

The AES Corporation is a holding company. The Company, through its subsidiaries and affiliates, operates a diversified portfolio of electricity generation and distribution businesses. It is organized into six strategic business units (SBUs): the United States; Andes; Brazil; Mexico, Central America and the Caribbean (MCAC); Europe, and Asia.

Analyst Recommendations for The AES Corporation (NYSE:AES)

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