Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (EDN) to Release Quarterly Earnings on Monday

Key Points

• Edenor is expected to report quarterly results before the market opens Monday, August 10. Analysts project a loss of $0.1727 per share and revenue of approximately $217.8 million.
• EDN opened at $26.50, with a $1.20 billion market capitalization and a 12-month trading range of $14.38 to $36.70. The stock’s consensus analyst rating is “Hold,” with a price target of $36.00.
• Institutional investors have increased their positions, including BNP Paribas Financial Markets, which raised its stake by 634.5%; however, institutions and hedge funds collectively own only 1.64% of the company.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN - Get Free Report) is projected to announce its results before the market opens on Monday, August 10th. Analysts expect Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) to announce earnings of ($0.1727) per share and revenue of $217.7940 million for the quarter.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) Price Performance

EDN stock opened at $26.50 on Monday. The company has a market cap of $1.20 billion, a PE ratio of 4.91 and a beta of 1.46. The company has a current ratio of 1.19, a quick ratio of 1.00 and a debt-to-equity ratio of 0.31. The stock has a 50-day moving average price of $25.99 and a two-hundred day moving average price of $26.94. Empresa Distribuidora Y Comercializadora Norte S.A. has a 12-month low of $14.38 and a 12-month high of $36.70.

Institutional Trading of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor)

Large investors have recently modified their holdings of the company. BNP Paribas Financial Markets lifted its stake in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 634.5% in the 2nd quarter. BNP Paribas Financial Markets now owns 277,104 shares of the utilities provider's stock worth $7,340,000 after acquiring an additional 239,379 shares during the period. Goldman Sachs Group Inc. raised its position in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 51.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 80,414 shares of the utilities provider's stock valued at $2,409,000 after buying an additional 27,486 shares during the period. Tidal Investments LLC boosted its holdings in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 28.9% during the second quarter. Tidal Investments LLC now owns 18,496 shares of the utilities provider's stock worth $490,000 after purchasing an additional 4,152 shares during the period. Jane Street Group LLC purchased a new stake in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) during the second quarter worth $455,000. Finally, State of Wisconsin Investment Board acquired a new position in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in the fourth quarter worth approximately $473,000. Institutional investors and hedge funds own 1.64% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently commented on EDN shares. Zacks Research upgraded shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) to a "hold" rating in a report on Thursday, May 14th. Weiss Ratings reiterated a "hold (c-)" rating on shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in a research note on Wednesday, June 24th. Three investment analysts have rated the stock with a Hold rating, According to MarketBeat, Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) has an average rating of "Hold" and a consensus price target of $36.00.

About Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor)

Empresa Distribuidora y Comercializadora Norte SA (Edenor) is Argentina's largest electricity distribution company by customer base and network extension. Established in 1992 as part of the country's energy sector privatization, Edenor holds the exclusive concession to distribute and sell electricity in the northern and northwestern areas of Greater Buenos Aires. The company's shares are listed on the New York Stock Exchange under the ticker symbol EDN, reflecting its role as a key participant in Argentina's regulated power market.

Edenor's primary business activity is the purchase of high-voltage electricity from generators and its subsequent transformation, distribution and retail sale to end users.

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