Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) Shares Down 7.3% - What's Next?

Key Points

• Edenor's stock has decreased by 7.3%, trading as low as $17.62, with a significant drop in trading volume of 39% compared to the average session.
• Research firm Wall Street Zen has downgraded Edenor from a "buy" to a "hold" rating, which reflects a cautious stance on the stock, while the average target price remains at $36.00.
• For the last quarter, Edenor reported earnings per share of $1.85 and revenue of $543.69 million, with analysts predicting an average EPS of 1.38 for the current fiscal year.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN - Get Free Report)'s share price fell 7.3% during mid-day trading on Thursday . The company traded as low as $17.62 and last traded at $17.73. 94,858 shares traded hands during trading, a decline of 39% from the average session volume of 155,820 shares. The stock had previously closed at $19.13.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on EDN. Wall Street Zen lowered shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) from a "buy" rating to a "hold" rating in a research note on Saturday, August 16th. Morgan Stanley reiterated an "equal weight" rating and issued a $36.00 price objective on shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in a research note on Wednesday, August 20th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $36.00.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) Trading Down 7.6%

The company has a debt-to-equity ratio of 0.22, a current ratio of 0.99 and a quick ratio of 0.82. The firm has a market capitalization of $800.80 million, a PE ratio of 2.82 and a beta of 1.60. The company's fifty day simple moving average is $23.51 and its 200-day simple moving average is $28.15.

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

Hedge Funds Weigh In On Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor)

Several hedge funds and other institutional investors have recently modified their holdings of the business. Ping Capital Management Inc. increased its position in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 7.9% during the second quarter. Ping Capital Management Inc. now owns 27,400 shares of the utilities provider's stock worth $726,000 after purchasing an additional 2,000 shares during the last quarter. Advisors Preferred LLC acquired a new stake in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) during the first quarter valued at about $103,000. Tidal Investments LLC increased its position 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 valued at $490,000 after acquiring an additional 4,152 shares during the last quarter. Bank of America Corp DE increased its position in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 135.4% during the fourth quarter. Bank of America Corp DE now owns 7,481 shares of the utilities provider's stock valued at $321,000 after acquiring an additional 4,303 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 valued at about $207,000. 1.64% of the stock is owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.