Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) Stock Price Down 4.8% - Time to Sell?

Key Points

• Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) stock price declined by 4.8%, closing at $17.15, with trading volume down by 74% from its average.
• Wall Street analysts have mixed ratings for Edenor, with Morgan Stanley maintaining an "equal weight" rating and setting a price target of $36.00, while Weiss Ratings issued a "sell" rating.
• The company reported a net margin of 11.55% and earnings per share (EPS) of $1.85 for its last quarter, but is projected to have a lower 1.38 EPS for the current year.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN - Get Free Report) fell 4.8% during trading on Friday . The company traded as low as $17.02 and last traded at $17.15. 41,095 shares changed hands during trading, a decline of 74% from the average session volume of 156,456 shares. The stock had previously closed at $18.02.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on EDN. 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 lowered Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) from a "buy" rating to a "hold" rating in a report on Saturday, August 16th. Finally, Weiss Ratings reissued a "sell (d+)" rating on shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in a report on Wednesday. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Reduce" and a consensus target price of $36.00.

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

The stock has a market cap of $770.44 million, a price-to-earnings ratio of 2.73 and a beta of 1.53. The stock has a fifty day simple moving average of $21.24 and a 200-day simple moving average of $26.91. The company has a current ratio of 0.99, a quick ratio of 0.82 and a debt-to-equity ratio of 0.22.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN - Get Free Report) last announced its quarterly earnings data on Monday, August 11th. The utilities provider reported $1.85 EPS 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%.The company had revenue of $543.69 million during the quarter. As a group, equities research analysts expect that Empresa Distribuidora Y Comercializadora Norte S.A. will post 1.38 EPS for the current year.

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

A number of hedge funds have recently modified their holdings of the company. Tidal Investments LLC lifted its position in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 28.9% in the 2nd quarter. Tidal Investments LLC now owns 18,496 shares of the utilities provider's stock worth $490,000 after acquiring an additional 4,152 shares during the period. BNP Paribas Financial Markets lifted its position in shares of 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 buying an additional 239,379 shares during the period. Jane Street Group LLC bought a new position in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) during the 2nd quarter worth approximately $455,000. Jump Financial LLC bought a new position in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) during the 2nd quarter worth approximately $320,000. Finally, Ping Capital Management Inc. lifted its position in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 7.9% during the 2nd 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 period. Institutional investors own 1.64% of the company's stock.

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

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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