What’s Propelling The AES Corporation (AES) to Decrease? The Stock Formed a Bearish Wedge Down Chart Pattern

December 7, 2017 - By Hazel Jackson

Investors sentiment decreased to 1.01 in Q2 2017. Its down 0.27, from 1.28 in 2017Q1. It turned negative, as 23 investors sold The AES Corporation shares while 168 reduced holdings. 47 funds opened positions while 146 raised stakes. 603.00 million shares or 1.22% less from 610.47 million shares in 2017Q1 were reported.
Oppenheimer Asset Mngmt reported 117,239 shares. Asset Mgmt One Ltd invested in 1.27 million shares. Consulate Inc has invested 0.07% in The AES Corporation (NYSE:AES). Bancorp Of The West reported 35,731 shares. 4,300 were reported by Fuller And Thaler Asset Mgmt. Zacks Investment Management holds 1.19 million shares or 0.33% of its portfolio. Lombard Odier Asset Management (Europe) Ltd holds 0.01% of its portfolio in The AES Corporation (NYSE:AES) for 10,243 shares. Pdts Prtnrs Limited Liability Corporation, New York-based fund reported 273,022 shares. Fifth Third Commercial Bank has 0% invested in The AES Corporation (NYSE:AES) for 4,735 shares. 18,079 were reported by Kentucky Retirement Sys Insurance Tru Fund. Capstone Investment Advsrs Ltd invested in 0.04% or 132,796 shares. Envestnet Asset invested in 309,195 shares. Tiaa Cref Management holds 0.02% of its portfolio in The AES Corporation (NYSE:AES) for 2.58M shares. Engineers Gate Manager Lp holds 0.28% or 282,728 shares. Stoneridge Prtnrs Ltd Company reported 0.43% of its portfolio in The AES Corporation (NYSE:AES).

The stock of The AES Corporation (AES) formed a down wedge with $10.38 target or 3.00 % below today’s $10.70 share price. The 8 months wedge indicates high risk for the $7.07B company. If the $10.38 price target is reached, the company will be worth $211.98M less.
Falling wedges are poor performers for bullish breakouts and are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 11% and 15%. The average rise is 32% and the decline is 15%. The falling wedges has high throwback and pullback rate: 56%, 69% and the percent of wedges meeting target is not very high.

The stock decreased 1.20% or $0.13 during the last trading session, reaching $10.7. About 6.14M shares traded or 19.98% up from the average. The AES Corporation (NYSE:AES) has risen 4.28% since December 8, 2016 and is uptrending. It has underperformed by 12.42% the S&P500.

Analysts await The AES Corporation (NYSE:AES) to report earnings on February, 26. They expect $0.31 earnings per share, down 11.43 % or $0.04 from last year’s $0.35 per share. AES’s profit will be $204.72 million for 8.63 P/E if the $0.31 EPS becomes a reality. After $0.24 actual earnings per share reported by The AES Corporation for the previous quarter, Wall Street now forecasts 29.17 % EPS growth.

The AES Corporation (NYSE:AES) Ratings Coverage

Among 9 analysts covering AES Corporation (NYSE:AES), 4 have Buy rating, 0 Sell and 5 Hold. Therefore 44% are positive. AES Corporation had 15 analyst reports since September 24, 2015 according to SRatingsIntel. The firm earned “Hold” rating on Monday, October 19 by Argus Research. The stock has “Peer Perform” rating by Wolfe Research on Wednesday, November 4. The stock of The AES Corporation (NYSE:AES) has “Underperform” rating given on Tuesday, November 22 by Bank of America. Barclays Capital downgraded it to “Equal Weight” rating and $12 target in Tuesday, October 4 report. The stock of The AES Corporation (NYSE:AES) earned “Buy” rating by Bank of America on Monday, November 13. Morgan Stanley maintained it with “Equal-Weight” rating and $1 target in Friday, September 8 report. RBC Capital Markets maintained The AES Corporation (NYSE:AES) on Sunday, September 10 with “Hold” rating. The rating was maintained by Argus Research on Thursday, March 23 with “Hold”. The firm earned “Sel” rating on Monday, October 3 by UBS. The rating was downgraded by RBC Capital Markets to “Sector Perform” on Wednesday, January 4.

More important recent The AES Corporation (NYSE:AES) news were published by: 247Wallst.com which released: “Pandora, AES Corp. Dip into Friday’s 52-Week Low Club” on November 10, 2017, also Businesswire.com published article titled: “AM Best Upgrades Credit Ratings of AES Global Insurance Company”, Nasdaq.com published: “Thursday Sector Laggards: Utilities, Energy” on December 07, 2017. More interesting news about The AES Corporation (NYSE:AES) was released by: Prnewswire.com and their article: “Electric Utilities Stocks on Investors’ Radar — DTE Energy, Alliant Energy …” with publication date: November 22, 2017.

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