Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) Shares Down 5.1% - What's Next?

Key Points

• Edenor shares fell 5.1% to about $19.36 in Monday trading, with volume 41% below the stock’s average daily level.
• Weiss Ratings downgraded the stock from “hold” to “sell,” while analysts’ overall consensus rating is “Reduce,” split between one Hold and one Sell rating.
• The company recently exceeded quarterly expectations, reporting $0.64 in EPS versus a forecasted loss of $0.17 and revenue of $618.97 million versus a $217.79 million consensus estimate.

Shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN - Get Free Report) fell 5.1% during trading on Monday. The company traded as low as $19.43 and last traded at $19.3610. 72,689 shares changed hands during mid-day trading, a decline of 41% from the average daily volume of 123,101 shares. The stock had previously closed at $20.41.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings cut shares of 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 research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Reduce".

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

The company has a 50-day moving average of $22.64 and a 200-day moving average of $24.92. 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 $879.12 million, a price-to-earnings ratio of 4.64 and a beta of 1.35.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN - Get Free Report) last announced its 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 firm had revenue of $618.97 million for the quarter, compared to the consensus estimate of $217.79 million. As a group, research analysts anticipate that Empresa Distribuidora Y Comercializadora Norte S.A. will post 0.17 EPS for the current fiscal year.

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

A hedge fund recently bought a new stake in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) stock. Militia Capital Management LLC bought 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 SEC. The institutional investor bought 14,902 shares of the utilities provider's stock, valued at approximately $447,000. Hedge funds and other institutional investors 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 the distribution network serving the northern and northwestern areas of the Buenos Aires metropolitan region, including parts of the City of Buenos Aires and surrounding municipalities in Buenos Aires Province.

Edenor's activities include receiving electricity from the transmission system, delivering it through medium- and low-voltage networks, and providing related services such as customer connections, metering, billing, network maintenance and outage response.

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