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 share 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 changed hands during trading, a decline of 32% from the average session volume of 151,802 shares. The stock had previously closed at $18.78.

Analysts Set New Price Targets

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

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

The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.82 and a current ratio of 0.99. The stock has a market cap of $774.52 million, a P/E ratio of 2.73 and a beta of 1.60. The firm has a 50-day moving average price of $24.48 and a 200-day moving average price of $28.84.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN - Get Free Report) last posted its quarterly 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 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%. On average, analysts forecast 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)

A number of institutional investors and hedge funds have recently modified their holdings of EDN. Advisors Preferred LLC purchased a new position in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) during the first quarter valued at $103,000. Jane Street Group LLC bought a new stake in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) during the fourth quarter worth approximately $207,000. Voloridge Investment Management LLC bought a new stake in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) during the fourth quarter worth approximately $258,000. Bank of America Corp DE boosted 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 buying an additional 4,303 shares during the period. Finally, Two Sigma Investments LP purchased a new position in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) during the fourth quarter valued at approximately $386,000. 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 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.