Time to Sell The AES Corporation (AES) After The Completion of This Wedge Down?

December 7, 2017 - By Winifred Garcia

Investors sentiment decreased to 1.01 in Q2 2017. Its down 0.27, from 1.28 in 2017Q1. It dived, 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.
Thompson Davis And Company Inc reported 34,826 shares. First Manhattan, New York-based fund reported 3,200 shares. Moreover, Hudson Valley Inv Adv has 0.06% invested in The AES Corporation (NYSE:AES) for 18,359 shares. Lsv Asset Mgmt reported 4.29 million shares or 0.08% of all its holdings. 2,755 are owned by Mufg Americas. Credit Suisse Ag owns 0.01% invested in The AES Corporation (NYSE:AES) for 1.31 million shares. Meiji Yasuda Asset Management holds 0.03% in The AES Corporation (NYSE:AES) or 22,594 shares. Petrus Com Lta accumulated 0.03% or 10,873 shares. Moreover, Invesco Ltd has 0.03% invested in The AES Corporation (NYSE:AES). Millennium Management Lc has invested 0.05% in The AES Corporation (NYSE:AES). Evercore Wealth Management Ltd Liability Corporation, a New York-based fund reported 2,103 shares. Ing Groep Nv has invested 0.01% in The AES Corporation (NYSE:AES). Ftb Advsrs owns 724 shares. Parkside Bank & Trust And holds 307 shares. Kentucky Retirement Ins Trust Fund holds 0.04% or 18,079 shares in its portfolio.

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 $204.72M 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. Argus Research downgraded the shares of AES in report on Monday, October 19 to “Hold” rating. RBC Capital Markets maintained it with “Hold” rating and $12.0 target in Sunday, September 10 report. The company was initiated on Wednesday, November 4 by Wolfe Research. The firm earned “Equal Weight” rating on Tuesday, October 4 by Barclays Capital. The stock of The AES Corporation (NYSE:AES) earned “Sel” rating by UBS on Monday, October 3. RBC Capital Markets downgraded The AES Corporation (NYSE:AES) rating on Wednesday, January 4. RBC Capital Markets has “Sector Perform” rating and $12 target. Argus Research maintained The AES Corporation (NYSE:AES) on Thursday, March 23 with “Hold” rating. The company was upgraded on Monday, November 13 by Bank of America. The stock of The AES Corporation (NYSE:AES) earned “Underperform” rating by Bank of America on Tuesday, November 22. The company was maintained on Friday, September 8 by Morgan Stanley.

More important recent The AES Corporation (NYSE:AES) news were published by: Nasdaq.com which released: “Thursday Sector Laggards: Utilities, Energy” on December 07, 2017, also 247Wallst.com published article titled: “Pandora, AES Corp. Dip into Friday’s 52-Week Low Club”, Businesswire.com published: “AM Best Upgrades Credit Ratings of AES Global Insurance Company” on November 08, 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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