Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) Announces Earnings Results

Key Points

• Edenor reported quarterly EPS of $0.64, exceeding the consensus estimate of a $0.17 loss by $0.81. The company posted a 13.79% return on equity and a 10.25% net margin.
• Shares fell $0.23 to $24.07 after the results, while the stock traded between $14.38 and $36.70 over the past year. Edenor has a $1.09 billion market capitalization and a price-to-earnings ratio of 4.45.
• Analysts maintain a generally neutral view, with three Hold ratings and a consensus price target of $36.00. Institutional investors and hedge funds own a relatively small 1.64% of the company.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN - Get Free Report) released its quarterly earnings results on Monday. The utilities provider reported $0.64 EPS for the quarter, topping the consensus estimate of ($0.17) by $0.81, Zacks reports. Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) had a return on equity of 13.79% and a net margin of 10.25%.

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

Shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) stock traded down $0.23 on Monday, hitting $24.07. The company had a trading volume of 149,269 shares, compared to its average volume of 125,168. The company has a market cap of $1.09 billion, a PE ratio of 4.45 and a beta of 1.46. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.19 and a quick ratio of 1.00. Empresa Distribuidora Y Comercializadora Norte S.A. has a 52 week low of $14.38 and a 52 week high of $36.70. The business has a 50-day simple moving average of $25.93 and a 200-day simple moving average of $26.88.

Institutional Investors Weigh In On Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor)

A number of institutional investors and hedge funds have recently bought and sold shares of EDN. Millennium Management LLC bought a new stake in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in the 4th quarter worth approximately $366,000. State of Wisconsin Investment Board acquired a new stake in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) during the 4th quarter valued at $473,000. Van ECK Associates Corp boosted its stake in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 54.8% during the 4th quarter. Van ECK Associates Corp now owns 1,037 shares of the utilities provider's stock worth $31,000 after acquiring an additional 367 shares in the last quarter. Wells Fargo & Company MN grew its holdings in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 55.6% in the 4th quarter. Wells Fargo & Company MN now owns 1,556 shares of the utilities provider's stock worth $47,000 after acquiring an additional 556 shares during the last quarter. Finally, Jane Street Group LLC acquired a new stake in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) during the fourth quarter worth $468,000. 1.64% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently commented on the company. 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. Zacks Research upgraded shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) to a "hold" rating in a research note on Thursday, May 14th. Three investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source