Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) Trading Down 4.2% - Time to Sell?

Key Points

• Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) stock declined by 4.2%, closing at $18.00, with a trading volume that was 32% below its average.
• Analysts have generally rated Edenor as a "Hold" with a consensus target price of $36.00, following recent downgrades from "buy" ratings.
• The company reported earnings of $1.85 per share with a revenue of $543.69 million, indicating a net margin of 11.55% and a return on equity of 18.04%.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN - Get Free Report)'s stock price traded down 4.2% during trading on Thursday . The company traded as low as $18.03 and last traded at $18.00. 103,525 shares were traded during mid-day trading, a decline of 32% from the average session volume of 151,802 shares. The stock had previously closed at $18.78.

Wall Street Analysts Forecast Growth

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

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) Trading Down 4.4%

The company has a market capitalization of $813.95 million, a price-to-earnings ratio of 2.87 and a beta of 1.60. The company has a quick ratio of 0.82, a current ratio of 0.99 and a debt-to-equity ratio of 0.22. The company's 50 day simple moving average is $25.21 and its two-hundred day simple moving average is $29.39.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN - Get Free Report) last announced its earnings results on Monday, August 11th. The utilities provider reported $1.85 earnings per share for the quarter. The company had revenue of $543.69 million during 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, research analysts anticipate that Empresa Distribuidora Y Comercializadora Norte S.A. will post 1.38 earnings per share for the current fiscal year.

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

A number of large investors have recently made changes to their positions in EDN. Advisors Preferred LLC purchased a new stake in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) during the first quarter valued at $103,000. Jane Street Group LLC purchased a new stake in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) during the fourth quarter valued at $207,000. Voloridge Investment Management LLC purchased a new stake in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) during the fourth quarter valued at $258,000. Jump Financial LLC purchased a new stake in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) during the second quarter valued at $320,000. Finally, Bank of America Corp DE grew its holdings 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 buying an additional 4,303 shares during the last quarter. 1.64% of the stock is owned by hedge funds and other institutional investors.

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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