Earnings Previews: AES, AMC, Block, Virgin Galactic, Warner Bros Discovery


AES Corp. (NYSE: AES) is a diversified power generation and utility company with operations in the United States and around the world. In June, the company formed a consortium with a number of solar companies with the intention of expanding the U.S. solar supply chain and growing the country’s solar industry. The consortium is committed to purchasing some 7 gigawatts of solar modules annually beginning in 2024. The company’s share price has declined by about 5.7% over the past 12 months.

Of 14 analysts covering the company, 12 have a Buy or Strong Buy rating. The other two have Hold ratings. At a recent price of around $22.20 a share, the upside potential based on a median price target of $27.00 is about 21.6%. At the high price target of $30.00, the upside potential is 35.1%.

For the second quarter, analysts are expecting revenue of $2.47 billion, which would be down 13.5% sequentially and 8.6% lower year over year. Adjusted EPS are expected to come in at $0.31, up 49.4% sequentially and flat year over year. For the full fiscal year, AES is expected to report EPS of $1.61, up 6.0%, on sales of $10.99 billion, down 1.4%.

The stock trades at 13.8 times expected 2022 EPS, 12.7 times estimated 2023 earnings of $1.75 and 11.6 times estimated 2024 earnings of $1.92 per share. The stock’s 52-week trading range is $18.62 to $26.52. AES pays an annual dividend of $0.93. The total shareholder return for the past year was negative 3%.


Shares of AMC Entertainment Holdings Inc. (NYSE: AMC) have dropped by more than 52% over the past 12 months. Even so, the stock soared so high in June of last year that it remains up nearly 740% since the beginning of 2021. Investors have been wary of the stock since Walmart’s profit warning a few weeks ago. Consumers are unlikely to spend more on going to movies if they arre not willing to spend on necessities. The stock added nearly 10% in Tuesday trading, probably anticipating CEO Adam Aron’s promise to crush AMC short sellers after announcing second-quarter earnings.

AMC is not an analyst’s favorite. Just eight brokerages cover the stock, and none has a Buy or Strong Buy rating. Only three have rated the shares at Hold. At a share price of around $16.90, the stock trades more than three times higher than its median price target of $4.50 and about 50% above the high price target of $11.10.

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