Shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN - Get Free Report) dropped 5% during mid-day trading on Friday . The stock traded as low as $29.25 and last traded at $29.74. Approximately 98,759 shares changed hands during trading, a decline of 31% from the average daily volume of 143,781 shares. The stock had previously closed at $31.32.
Wall Street Analysts Forecast Growth
Separately, Wall Street Zen raised shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima from a "hold" rating to a "buy" rating in a research note on Friday, May 23rd.
Check Out Our Latest Stock Report on EDN
Empresa Distribuidora y Comercializadora Norte Sociedad Anónima Stock Performance
The company has a market capitalization of $1.31 billion, a P/E ratio of 5.62 and a beta of 1.54. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.82 and a quick ratio of 0.69. The stock's 50 day simple moving average is $32.22 and its two-hundred day simple moving average is $35.77.
Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN - Get Free Report) last announced its earnings results on Friday, May 9th. The utilities provider reported $0.78 earnings per share for the quarter. Empresa Distribuidora y Comercializadora Norte Sociedad Anónima had a net margin of 10.22% and a return on equity of 18.97%. The company had revenue of $605.33 million during the quarter. As a group, research analysts expect that Empresa Distribuidora y Comercializadora Norte Sociedad Anónima will post 1.38 earnings per share for the current year.
Institutional Investors Weigh In On Empresa Distribuidora y Comercializadora Norte Sociedad Anónima
Several institutional investors have recently modified their holdings of EDN. Advisors Preferred LLC acquired a new stake in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima during the 1st quarter worth approximately $103,000. Jane Street Group LLC acquired a new stake in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima during the 4th quarter worth approximately $207,000. NewEdge Advisors LLC acquired a new stake in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima during the 4th quarter worth approximately $257,000. Voloridge Investment Management LLC acquired a new stake in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima during the 4th quarter worth approximately $258,000. Finally, Jump Financial LLC acquired a new stake in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima during the 4th quarter worth approximately $275,000. Institutional investors and hedge funds own 1.64% of the company's stock.
About Empresa Distribuidora y Comercializadora Norte Sociedad Anónima
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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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