The AES Corporation (NYSE:AES)’s Q1 profit increased 52% as the power firm’s revenue strengthened, assisted by gains from acquisitions.
Exclusive of mark-to-market derivative impacts, currency transactions and other items, earnings increased to 37 cents as compared to 24 cents. Analysts surveyed by Thomson Reuters projected earnings of 27 cents per share.
Revenue increased 14% to $4.74 billion, assisted by gains from new businesses like DP&L, amplified volume in Latin America, and arbitration settlement in Spain and partially counterbalanced by reduced spot prices in Chile, a postponed tariff reset in Brazil and DP&L-related financing expenses.
Gross margin dropped to 22.7% as compared to 23.9% as input costs increased 16%.
Its competitors include Duke Energy Corporation (NYSE:DUK) that surged 0.93% to $21.60 with the total traded volume of 1.47 million shares and Edison International (NYSE:EIX) that advanced 0.37% to $43.88 with the total traded volume of 394,640.00 shares.
Other Utilities stocks with bullish trend include The Southern Company (NYSE:SO) up 0.73% to $45.52, CenterPoint Energy, Inc. (NYSE:CNP) up 1.32% to $19.98 and Companhia Energetica Minas Gerais (ADR) (NYSE:CIG) up 1.11% to $23.69, whereas with bearish trend include NRG Energy Inc (NYSE:NRG) down -3.15% to $15.70, Inergy, L.P. (NYSE:NRGY) down -0.19% to $18.50 and Alliant Energy Corporation (NYSE:LNT) down -0.60% to $44.39.
The AES Corporation (NYSE:AES) increased +0.98% or +$0.12 to trading at $12.33 at 10:28AM EDT following it hit intraday high level of $12.80. The total traded volume in the current trading session is 1.73 million shares as compared to average 5.12 million shares. Its fifty two week trading range is $9.00 – $14.01. The total market capitalization reached $9.47 billion.
The stock price was ahead its 52 week low price with 38.33% and it lagged behind -11.13% from its 52 week maximum mark. Stock price volatility for last month remained 1.82%. In its share capital, the company has 767.25 million outstanding shares out of which 766.00 million shares have been floated in the market. For now, stock ownership with company’s management remained 0.10%.
AES presented a negative weekly performance of -1.69% with respect to its rate of return and it remained -7.85% for the month. However, the performance for a quarter experienced a negative change of -6.15% and it slumped -6.44% for a year and its year to date performance remained in green with 3.12%.
Current stock price is in the upbeat territory taking into account of 20 days moving average with 0.35% and continued bearish run for 50 days moving average with -3.50%. Its earning per share for the past twelve months was $0.58. Company’s beta coefficient was at 1.44. Beta measures the amount of market risk associated with market trade.
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