Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) Sets New 1-Year Low - What's Next?

Key Points

• Edenor shares hit a new 52-week low, trading as low as $15.48, well below the 50-day and 200-day moving averages of $21.59 and $25.38.
• Analyst sentiment is negative: Weiss Ratings downgraded the stock to “sell,” while the two analysts tracked by MarketBeat give it a consensus “Reduce” rating.
• Despite the share-price weakness, Edenor beat quarterly earnings expectations with $0.64 EPS versus a projected $0.17 loss and reported $618.97 million in revenue.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN - Get Free Report)'s stock price hit a new 52-week low on Monday. The stock traded as low as $15.48 and last traded at $15.6590, with a volume of 24,304 shares traded. The stock had previously closed at $15.63.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings cut Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) from a "hold (c-)" rating to a "sell (d+)" rating in a report on Friday, August 14th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Reduce".

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

The company's 50-day simple moving average is $21.59 and its 200 day simple moving average is $25.38. 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 company has a market cap of $692.85 million, a PE ratio of 3.66 and a beta of 1.46.

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

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

An institutional investor recently bought a new position in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) stock. Militia Capital Management LLC bought a new stake in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 14,902 shares of the utilities provider's stock, valued at approximately $447,000. Institutional investors and hedge funds own 1.64% of the company's stock.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) Company Profile

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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