AES Corp (AES) is Downgraded by Barclays to Equal Weight, Lowers Price Target to $ 12

AES Corp (AES) was Downgraded by Barclays to ” Equal Weight” while Lowering the Price Target of the company shares to $ 12 from a previous price target of $14 . Earlier the firm had a rating of “Overweight ” on the company shares. Barclays advised their investors in a research report released on Oct 4, 2016.

On the company’s financial health, AES Corp reported $0.17 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Aug 5, 2016. Analyst had a consensus of $0.15. The company had revenue of $3229.00 million for the quarter, compared to analysts expectations of $4069.91 million. The company’s revenue was down -11.7 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.25 EPS.

AES Corp closed down -0.05 points or -0.39% at $12.85 with 58,67,949 shares getting traded on Friday. Post opening the session at $12.91, the shares hit an intraday low of $12.82 and an intraday high of $13.005 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

In a different news, on Mar 9, 2016, Fabian Souza (VP and Controller) sold 2,764 shares at $10.96 per share price. According to the SEC, on Nov 13, 2015, Santos Bernerd Da (COO) purchased 5,000 shares at $10.13 per share price. On Nov 12, 2015, Elizabeth Hackenson (Sr. VP and CIO) purchased 5,000 shares at $9.81 per share price, according to the Form-4 filing with the securities and exchange commission.

The AES Corporation (AES) is a holding company that operates a portfolio of electricity generation and distribution businesses. The Company is organized into six market-oriented Strategic Business Units (SBUs): the United States Andes (Chile Colombia and Argentina) Brazil MCAC (Mexico Central America and Caribbean) Europe (formerly EMEA) and Asia. Within these six SBUs the Company has two lines of business: generation and utilities. Under the generation business line the Company owns and operates power plants to generate and sell power to customers such as utilities industrial users and other intermediaries. Under the utilities business line the Company owns and operates utilities to generate or purchase distribute transmit and sell electricity to end-user customers in the residential commercial industrial and governmental sectors within a defined service area. Its utilities also generate and sell electricity on the wholesale market.

AES Corp

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