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

Key Points

• Edenor reported earnings that far exceeded analyst expectations, posting $999.00 EPS versus a consensus estimate of ($0.17).
• The stock rose 4.3% on Monday to $24.37, though trading volume was below average.
• Analysts remain cautious, with an overall “Hold” rating and an average target price of $36.00.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN - Get Free Report) released its earnings results on Monday. The utilities provider reported $999.00 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.17) by $999.17, Zacks reports. Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) had a net margin of 8.10% and a return on equity of 11.40%.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) Trading Up 4.3%

Shares of EDN stock traded up $1.00 during trading hours on Monday, hitting $24.37. 46,760 shares of the company were exchanged, compared to its average volume of 136,486. The firm has a market cap of $1.10 billion, a PE ratio of 5.67 and a beta of 1.45. Empresa Distribuidora Y Comercializadora Norte S.A. has a 1 year low of $14.38 and a 1 year high of $38.10. The company has a quick ratio of 0.91, a current ratio of 1.07 and a debt-to-equity ratio of 0.32. The firm has a fifty day moving average of $27.43 and a 200 day moving average of $29.02.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Wall Street Zen upgraded shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) from a "sell" rating to a "hold" rating in a report on Sunday, March 22nd. Weiss Ratings reiterated a "hold (c-)" rating on shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in a report on Friday, March 27th. Two research analysts have rated the stock with a Hold rating, According to MarketBeat, the company has an average rating of "Hold" and an average target price of $36.00.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of EDN. Jump Financial LLC purchased a new position in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in the second quarter valued at approximately $320,000. Jane Street Group LLC purchased a new position in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in the second quarter valued at approximately $455,000. State of Wisconsin Investment Board purchased a new position in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in the fourth quarter valued at approximately $473,000. Tidal Investments LLC raised its holdings in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 28.9% in the second quarter. Tidal Investments LLC now owns 18,496 shares of the utilities provider's stock valued at $490,000 after buying an additional 4,152 shares during the period. Finally, BNP Paribas Financial Markets raised its holdings in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 634.5% in the second quarter. BNP Paribas Financial Markets now owns 277,104 shares of the utilities provider's stock valued at $7,340,000 after buying an additional 239,379 shares during the period. 1.64% of the stock is currently owned by hedge funds and other institutional investors.

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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