The AES Corporation’s stock price soars to $17.86, marking a bullish 8.64% rise

The AES Corporation (AES)

17.86 USD +1.42 (+8.64%) Volume: 13.64M

The AES Corporation’s stock price surged by +8.64% this trading session, reaching a value of 17.86 USD per share, driven by a robust trading volume of 13.64M. Despite this impressive session, the stock’s performance remains down by -7.22% year-to-date.

Latest developments on The AES Corporation

Today, AES Corp. stock saw a rise in price as Jefferies initiated coverage with a ‘buy’ rating, citing a ‘giant renewables pivot at a discount’. Despite this positive news, the stock still underperforms the market. This comes after AES recently launched the state’s largest solar power facility on Maui, showcasing their commitment to renewable energy. Additionally, Levin Capital Strategies L.P. sold a significant number of shares in The AES Co. (NYSE:AES), which may have also influenced the stock price movements today.

The AES Corporation on Smartkarma

Analysts at Baptista Research on Smartkarma have provided positive coverage of Aes Corp, highlighting the company’s strong financial performance and strategic progress. In their report titled “The AES Corporation: Geographical Diversification & Investment Shift Driving Our ‘Buy’ Rating? – Major Drivers,” they emphasized AES’s solid second-quarter 2024 earnings, with adjusted EBITDA of $843 million and adjusted EPS of $0.38. The analysts praised AES for its well-executed expansions, especially in technology partnerships and renewable energy initiatives, showcasing the company’s adaptability and foresight in the energy sector.

Furthermore, Baptista Research initiated coverage on Aes Corp with another bullish report titled “The AES Corporation: Initiation of Coverage – Does It Have A Sustainable Competitive Moat? – Major Drivers.” In this report, they discussed the company’s first-quarter 2024 financial review, highlighting adjusted EBITDA of $863 million, adjusted EBITDA of $635 million, and adjusted EPS of $0.50. These results demonstrate AES Corporation’s ability to achieve its financial targets and maintain resilience amidst challenging economic conditions like high interest rates and inflation, according to the analysts at Baptista Research.

A look at The AES Corporation Smart Scores

Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma

Looking at the Smartkarma Smart Scores for Aes Corp, it appears that the company has a strong outlook for both dividend and growth potential, scoring a 5 in both categories. This indicates that Aes Corp is likely to provide stable dividends to its investors while also showing promising growth prospects in the future. However, the company scores lower in terms of value, resilience, and momentum, with scores of 2 in each category. This suggests that Aes Corp may not be as undervalued compared to its peers, may face some challenges in terms of resilience, and may not have strong momentum compared to other companies in the market.

Overall, based on the Smartkarma Smart Scores, Aes Corp seems to be a company with strong potential for dividends and growth. With its focus on acquiring, developing, and operating generation plants and distribution businesses, as well as its ventures into coal mining, seawater desalination, and alternative energy sources, Aes Corp is positioned to continue expanding its operations and providing value to its shareholders in the long term. While there may be some areas for improvement in terms of value, resilience, and momentum, the company’s strong performance in dividend and growth aspects bodes well for its future prospects.

Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
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