Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) Sets New 12-Month Low - What's Next?

Key Points

• Shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) hit a new 52-week low of $14.79 amid declining stock performance.
• Analysts currently have a consensus rating of "Hold" for the stock, with a projected average target price of $36.00.
• The company reported $1.85 earnings per share for the last quarter, with revenue of $543.69 million and a return on equity of 18.04%.

Shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN - Get Free Report) reached a new 52-week low on Wednesday . The company traded as low as $14.79 and last traded at $14.89, with a volume of 112831 shares traded. The stock had previously closed at $15.56.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Morgan Stanley reissued an "equal weight" rating and set a $36.00 price objective on shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in a report on Wednesday, August 20th. Wall Street Zen downgraded Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) from a "buy" rating to a "hold" rating in a research note on Saturday, August 16th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $36.00.

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

The company has a market cap of $675.00 million, a PE ratio of 2.38 and a beta of 1.60. The stock's 50 day simple moving average is $22.87 and its two-hundred day simple moving average is $27.68. The company has a quick ratio of 0.82, a current ratio of 0.99 and a debt-to-equity ratio of 0.22.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN - Get Free Report) last issued its earnings results on Monday, August 11th. The utilities provider reported $1.85 earnings per share for the quarter. The firm had revenue of $543.69 million for the quarter. Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) had a return on equity of 18.04% and a net margin of 11.55%. As a group, research analysts anticipate that Empresa Distribuidora Y Comercializadora Norte S.A. will post 1.38 earnings per share for the current year.

Hedge Funds 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. Tidal Investments LLC grew its holdings in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 28.9% during the 2nd quarter. Tidal Investments LLC now owns 18,496 shares of the utilities provider's stock valued at $490,000 after purchasing an additional 4,152 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 634.5% during the 2nd quarter. BNP Paribas Financial Markets now owns 277,104 shares of the utilities provider's stock worth $7,340,000 after purchasing an additional 239,379 shares during the last quarter. Jane Street Group LLC acquired a new position in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in the 2nd quarter valued at approximately $455,000. Jump Financial LLC purchased a new position in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) during the 2nd quarter valued at approximately $320,000. Finally, Ping Capital Management Inc. increased its stake in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 7.9% in the second quarter. Ping Capital Management Inc. now owns 27,400 shares of the utilities provider's stock worth $726,000 after buying an additional 2,000 shares during the last quarter. Hedge funds and other institutional investors own 1.64% of the company's stock.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) Company Profile

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima is involved in the distribution and sale of electricity in Argentina. The company was incorporated in 1992 and is based in Buenos Aires, Argentina. Empresa Distribuidora y Comercializadora Norte Sociedad Anónima operates as a subsidiary of Empresa de Energía del Cono Sur SA.

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