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AES (AES) Moves 9.2% Higher: Will This Strength Last?
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AES (AES - Free Report) shares ended the last trading session 9.2% higher at $16.09. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 'no gain, no loss' position over the past four weeks.
AES is capitalizing on the global shift to renewable energy through investments in utility-scale renewables and energy storage, supported by innovation and artificial intelligence (AI) to accelerate clean-energy deployment.
Its geographically diversified operations help stabilize revenues, while rising power demand from data centers driven by AI and cloud computing is creating strong growth opportunities.
This power company is expected to post quarterly earnings of $0.63 per share in its upcoming report, which represents a year-over-year change of +16.7%. Revenues are expected to be $3.47 billion, up 17.3% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For AES, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on AES going forward to see if this recent jump can turn into more strength down the road.
AES belongs to the Zacks Utility - Electric Power industry. Another stock from the same industry, Evergy Inc (EVRG - Free Report) , closed the last trading session 2.4% higher at $77.8. Over the past month, EVRG has returned 5.1%.
Evergy's consensus EPS estimate for the upcoming report has changed +6.2% over the past month to $0.6. Compared to the company's year-ago EPS, this represents a change of +71.4%. Evergy currently boasts a Zacks Rank of #4 (Sell).
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AES (AES) Moves 9.2% Higher: Will This Strength Last?
AES (AES - Free Report) shares ended the last trading session 9.2% higher at $16.09. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 'no gain, no loss' position over the past four weeks.
AES is capitalizing on the global shift to renewable energy through investments in utility-scale renewables and energy storage, supported by innovation and artificial intelligence (AI) to accelerate clean-energy deployment.
Its geographically diversified operations help stabilize revenues, while rising power demand from data centers driven by AI and cloud computing is creating strong growth opportunities.
This power company is expected to post quarterly earnings of $0.63 per share in its upcoming report, which represents a year-over-year change of +16.7%. Revenues are expected to be $3.47 billion, up 17.3% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For AES, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on AES going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
AES belongs to the Zacks Utility - Electric Power industry. Another stock from the same industry, Evergy Inc (EVRG - Free Report) , closed the last trading session 2.4% higher at $77.8. Over the past month, EVRG has returned 5.1%.
Evergy's consensus EPS estimate for the upcoming report has changed +6.2% over the past month to $0.6. Compared to the company's year-ago EPS, this represents a change of +71.4%. Evergy currently boasts a Zacks Rank of #4 (Sell).