Enel (OTCMKTS:ENLAY) Shares Cross Below 50 Day Moving Average - Here's Why

Key Points

• Enel shares fell below their 50-day moving average, trading as low as $10.22 versus the $10.33 average before last changing hands at $10.31.
• Analyst sentiment remains cautious: Morgan Stanley reiterated an “underweight” rating, while the broader analyst consensus is “Reduce”, with one Buy, three Hold and two Sell ratings.
• Enel slightly exceeded quarterly expectations, reporting $0.21 EPS versus the $0.20 consensus and revenue of $23.96 billion against estimates of $23.93 billion.

Enel SpA (OTCMKTS:ENLAY - Get Free Report)'s stock price crossed below its 50 day moving average during trading on Thursday. The stock has a 50 day moving average of $10.33 and traded as low as $10.22. Enel shares last traded at $10.31, with a volume of 566,091 shares changing hands.

Analyst Ratings Changes

Separately, Morgan Stanley reiterated an "underweight" rating on shares of Enel in a report on Wednesday, July 1st. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Reduce".

Enel Price Performance

The company has a market capitalization of $102.46 billion, a P/E ratio of 13.39, a price-to-earnings-growth ratio of 1.76 and a beta of 0.77. The company's 50-day moving average price is $10.33 and its two-hundred day moving average price is $11.00. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.71 and a quick ratio of 0.63.

Enel (OTCMKTS:ENLAY - Get Free Report) last posted its earnings results on Thursday, July 30th. The utilities provider reported $0.21 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.20 by $0.01. The company had revenue of $23.96 billion for the quarter, compared to analyst estimates of $23.93 billion. As a group, sell-side analysts expect that Enel SpA will post 0.84 EPS for the current year.

Enel Company Profile

Enel S.p.A. is an Italian multinational energy company headquartered in Rome. Established in 1962, the group operates across the electricity and energy value chain, including power generation, electricity distribution, energy sales and related customer services.

Enel has a significant focus on renewable energy through technologies such as solar, wind, hydropower and geothermal generation. The company also develops energy-storage projects, electric-mobility infrastructure and digital energy solutions, while continuing to manage conventional generation assets in selected markets.

Through its distribution networks and retail businesses, Enel serves residential, commercial and industrial customers in several countries.

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