In a report released today, Stephen Byrd from Morgan Stanley maintained a Buy rating on AES (AES), with a price target of $18.00. The company’s shares closed last Friday at $15.07.
According to TipRanks.com, Byrd is a 4-star analyst with an average return of 3.9% and a 58.0% success rate. Byrd covers the Utilities sector, focusing on stocks such as Algonquin Power & Utilities, Public Service Enterprise, and American Electric Power.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for AES with a $17.63 average price target.
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Based on AES’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $2.34 billion and net profit of $144 million. In comparison, last year the company earned revenue of $2.65 billion and had a net profit of $154 million.
Based on the recent corporate insider activity of 38 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of AES in relation to earlier this year.
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AES Corp. engages in the provision of power generation and utility services through its renewable and thermal generation facilities and distribution businesses. It operates through the following business segments: U.S. and Utilities Strategic Business Unit (SBU), South America SBU, MCAC SBU, Eurasia SBU, and Corporate and Other. The U.S. and Utilities SBU segment consists of facilities in the United States, Puerto Rico, and El Salvador. The South America SBU segment covers Chile, Colombia, Argentina, and Brazil. The MCAC SBU segment refers to Mexico, Central America, and the Caribbean. The Eurasia SBU segment handles operations in Europe and Asia. The Corporate and Other segment includes the results of the AES self-insurance company. The company was founded by Dennis W. Bakke and Roger W. Sant in 1981 and is headquartered in Arlington, VA.
