The AGL Energy Limited (ASX: AGL) share price hasn't exactly established a good reputation as an ASX 200 performer in 2021 so far.
Even before this month when AGL reported its FY21 earnings, AGL shares had lost around 49.7% of their value between January and the end of July.
AGL reported its FY21 earnings more than a fortnight ago on 12 August. Here's a summary of what my Fool colleague Marc reported at the time:
- Revenues dropped 10% on the prior corresponding period (pcp) to $10.9 billion.
- Underlying profits down 33.5% to $537 million on the pcp.
- Underlying earnings per share (EPS) fell 31.6% to 86.2 cents.
- Full-year dividend of 75 cents per share (41 cents interim + 35 cents final), a 23.5% drop from the pcp
This earnings report has been the centrepiece of AGL's August performance so far. To illustrate, here's a graph of the AGL share price over the month to date:
As you can see, AGL was having a relatively positive month until the release of its FY21 earnings. In fact, between 30 July and 11 August, AGL shares were up around 5%.
However, since 12 August, investors seemed to have changed their minds. On yesterday's closing share price of $6.71 a share, AGL is now down around 11.7% since the day before the earnings were released.
That puts this company's losses for the month of August so far at roughly 7.2%.
About the AGL Energy share price
While AGL's performance in both August and 2021 so far has been rather bleak, things aren't any better for long-term investors.
In addition to being down 44% year to date in 2021 so far, the AGL share price is also down around 54% over the past 12 months, and 64% over the past 5 years.
Since this company hit its all-time high of around $27.70 a share back in 2017, investors have had to watch AGL shares lose a nasty 75.8% of their value.
In some (perhaps much-needed) better news, investment bank Goldman Sachs still rates AGL with a 12-month share price target of $7.95 a share (albeit with a 'neutral' rating). That implies a potential 12-month upside of 18.5%. Even though the broker acknowledges that FY2022 will be a tough year for the company, it still sees "long-term embedded value in AGL's portfolio".
