Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) Hits New 12-Month Low - Here's Why

Key Points

• Edenor shares fell to a new 52-week low, reaching $16.89 and last trading at $17.257, well below the previous close of $18.91.
• Analyst sentiment weakened after Weiss Ratings downgraded the stock from “hold” to “sell”; with one Hold and one Sell rating, the consensus is “Reduce.”
• Despite the share-price decline, Edenor reported quarterly EPS of $0.64, beating the $0.17 loss analysts expected, while revenue reached $618.97 million versus a $217.79 million consensus estimate.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN - Get Free Report)'s share price reached a new 52-week low during trading on Monday. The stock traded as low as $16.89 and last traded at $17.2570, with a volume of 6,373 shares. The stock had previously closed at $18.91.

Wall Street Analyst Weigh In

Separately, Weiss Ratings lowered shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Friday, August 14th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Reduce".

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

The stock's 50 day simple moving average is $22.19 and its two-hundred day simple moving average is $24.51. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.28 and a current ratio of 1.46. The firm has a market capitalization of $810.88 million, a PE ratio of 4.28 and a beta of 1.35.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN - Get Free Report) last posted its quarterly earnings results on Tuesday, August 11th. The utilities provider reported $0.64 EPS for the quarter, topping the consensus estimate of ($0.17) by $0.81. Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) had a net margin of 7.46% and a return on equity of 10.31%. The business had revenue of $618.97 million during the quarter, compared to the consensus estimate of $217.79 million. On average, sell-side analysts forecast that Empresa Distribuidora Y Comercializadora Norte S.A. will post 0.17 EPS for the current year.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) stock. Militia Capital Management LLC purchased a new position in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 14,902 shares of the utilities provider's stock, valued at approximately $447,000. Institutional investors own 1.64% of the company's stock.

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

Empresa Distribuidora y Comercializadora Norte SA, commonly known as Edenor, is an Argentine electric utility that distributes electricity to residential, commercial and industrial customers. The company operates and maintains the low-, medium- and high-voltage distribution network, manages customer connections and metering, and provides related billing and customer-support services.

Edenor serves the northern and northwestern areas of the Buenos Aires metropolitan region, including portions of the Autonomous City of Buenos Aires and surrounding municipalities in Buenos Aires Province.

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