AES Corp (AES) is Downgraded by BofA/Merrill to Underperform

AES Corp (AES) was Downgraded by BofA/Merrill to ” Underperform”. Earlier the firm had a rating of “Neutral ” on the company shares. BofA/Merrill advised their investors in a research report released on Nov 22, 2016.

Many Wall Street Analysts have commented on AES Corp. Shares were Downgraded by Barclays on Oct 4, 2016 to ” Equal Weight” and Lowered the Price Target to $ 12 from a previous price target of $14 .

On the company’s financial health, AES Corp reported $0.32 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on Nov 4, 2016. Analyst had a consensus of $0.33. The company had revenue of $3542.00 million for the quarter, compared to analysts expectations of $4548.36 million. The company’s revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.38 EPS.

AES Corp closed down -0.03 points or -0.26% at $11.4 with 67,46,816 shares getting traded on Monday. Post opening the session at $11.42, the shares hit an intraday low of $11.38 and an intraday high of $11.67 and the price fluctuated in this range throughout the day.Shares ended Monday 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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