The stock of AES Corp (NYSE:AES) gapped down by $0.07 today and has $11.35 target or 9.00% below today’s $12.47 share price. The 9 months technical chart setup indicates high risk for the $8.19B company. The gap down was reported on Oct, 4 by Barchart.com. If the $11.35 price target is reached, the company will be worth $737.10M less.
Gaps down are helpful for identifying a resistance level and to could also be used as a tradeable event. If traders are short the stock and it experiece gap down, then its usually advisable to hold the short for a bigger down move. Back-tests of such patterns show that two-thirds of the these patterns the stock performance worsens after the gap. The area gaps close 91% of the time, the breakaway gaps 1%, the continuation gaps 9% and the exhaustion gaps 64%. The stock decreased 2.96% or $0.38 during the last trading session, hitting $12.47. About 8.95 million shares traded hands or 86.07% up from the average. AES Corp (NYSE:AES) has risen 23.22% since March 1, 2016 and is uptrending. It has outperformed by 11.01% the S&P500.
Analysts await AES Corp (NYSE:AES) to report earnings on November, 3. They expect $0.31 EPS, down 20.51% or $0.08 from last year’s $0.39 per share. AES’s profit will be $203.60M for 10.06 P/E if the $0.31 EPS becomes a reality. After $0.17 actual EPS reported by AES Corp for the previous quarter, Wall Street now forecasts 82.35% EPS growth.
AES Corp (NYSE:AES) Ratings Coverage
Out of 6 analysts covering AES Corporation (NYSE:AES), 4 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 67% are positive. AES Corporation has been the topic of 6 analyst reports since September 24, 2015 according to StockzIntelligence Inc. The company was downgraded on Monday, October 19 by Argus Research. Wolfe Research initiated the stock with “Peer Perform” rating in Wednesday, November 4 report.
According to Zacks Investment Research, “AES Corporation and its subsidiaries and affiliates are a global power company committed to serving the world’s needs for electricity in a socially responsible way. AES’s electricity generation business consists of sales to wholesale customers for further resale to end users. AES also sells electricity directly to end users such as commercial, industrial, governmental and residential customers through its distribution business.”
Insitutional Activity: The institutional sentiment increased to 1.23 in 2016 Q2. Its up 0.18, from 1.05 in 2016Q1. The ratio increased, as 32 funds sold all AES Corp shares owned while 119 reduced positions. 40 funds bought stakes while 145 increased positions. They now own 608.68 million shares or 2.18% less from 622.22 million shares in 2016Q1.
Davenport And Llc holds 0% of its portfolio in AES Corp (NYSE:AES) for 64,985 shares. Cibc World Inc reported 158,904 shares or 0.01% of all its holdings. Hightower Advsr Limited Liability Corporation holds 0.02% or 132,987 shares in its portfolio. Mizuho Securities Usa last reported 0.53% of its portfolio in the stock. Duncker Streett And last reported 138 shares in the company. Moreover, Fdx Advisors has 0.05% invested in AES Corp (NYSE:AES) for 90,040 shares. Fifth Third Natl Bank accumulated 0% or 10,121 shares. Moreover, State Street Corp has 0.05% invested in AES Corp (NYSE:AES) for 34.55M shares. Eqis Capital Mngmt holds 0.02% or 19,409 shares in its portfolio. First Allied Advisory Services last reported 0.02% of its portfolio in the stock. Meiji Yasuda Asset Mngmt Ltd holds 0.03% of its portfolio in AES Corp (NYSE:AES) for 17,794 shares. Capital One Natl Association holds 40,107 shares or 0.04% of its portfolio. Mizuho & Bk Limited has 0.04% invested in the company for 1.08 million shares. Cetera Limited Liability Com holds 57,237 shares or 0.06% of its portfolio. Public Employees Retirement Association Of Colorado last reported 138,799 shares in the company.
More recent AES Corp (NYSE:AES) news were published by: Streetinsider.com which released: “UBS Downgrades AES Corp. (AES) to Sell” on October 03, 2016. Also Prnewswire.com published the news titled: “Electric Utilities Stocks Under Scanner — PPL Corp., AES Corp., Entergy, and …” on September 19, 2016. Benzinga.com‘s news article titled: “Mid-Day Market Update: Cabelas Surges Following Merger News; TASER Shares Slide” with publication date: October 03, 2016 was also an interesting one.
AES Company Profile
The AES Corporation, incorporated on January 28, 1981, is a holding company. The Company, through its subsidiaries and affiliates, operates a diversified portfolio of electricity generation and distribution businesses. The Firm is organized into six strategic business units (SBUs): the United States; Andes; Brazil; Mexico, Central America and Caribbean (MCAC); Europe, and Asia. Within these SBUs, the Company has two lines of business: generation and utilities. The Company’s United States SBU has over 20 generation facilities and approximately two integrated utilities in the United States. The Company’s Andes SBU has generation facilities in over three countries: Chile, Colombia and Argentina. The Company’s Brazil SBU has generation and distribution businesses: Eletropaulo and Tiete. The Company’s MCAC SBU has a portfolio of distribution businesses and generation facilities, including renewable energy, in over five countries, with a total capacity of approximately 3,240 megawatt (MW) and distribution networks. The Company’s Europe SBU has generation facilities in over five countries and its Asia SBU has generation facilities in over four countries.
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