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.
ILLEGAL ACTIVITY NOTICE: This report was first published by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are accessing this report on another domain, it was illegally copied and republished in violation of US and international trademark & copyright legislation. The correct version of this report can be viewed at https://www.dispatchtribunal.com/2017/11/11/the-aes-corporation-aes-raised-to-neutral-at-bank-of-america-corporation.html.
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.
Receive News & Ratings for The AES Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The AES Corporation and related companies with MarketBeat.com's FREE daily email newsletter.