Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) Shares Down 4.8% – What’s Next?

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN)’s share price was down 4.8% during trading on Friday . The stock traded as low as $17.02 and last traded at $17.15. Approximately 41,095 shares traded hands during mid-day trading, a decline of 74% from the average daily volume of 156,456 shares. The stock had previously closed at $18.02.

Wall Street Analyst Weigh In

Several equities analysts have commented on EDN shares. Weiss Ratings reiterated a “sell (d+)” rating on shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in a research note on Wednesday. Wall Street Zen lowered shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) from a “buy” rating to a “hold” rating in a research note on Saturday, August 16th. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $36.00 price target on shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in a research note on Wednesday, August 20th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average target price of $36.00.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) Trading Down 7.9%

The company has a debt-to-equity ratio of 0.22, a current ratio of 0.99 and a quick ratio of 0.82. The firm has a market capitalization of $752.36 million, a PE ratio of 2.65 and a beta of 1.53. The business’s 50-day moving average price is $21.00 and its 200-day moving average price is $26.74.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) last announced its earnings results on Monday, August 11th. The utilities provider reported $1.85 earnings per share (EPS) for the quarter. The business had revenue of $543.69 million for the quarter. Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) had a net margin of 11.55% and a return on equity of 18.04%. As a group, analysts expect that Empresa Distribuidora Y Comercializadora Norte S.A. will post 1.38 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor)

A number of hedge funds and other institutional investors have recently bought and sold shares of EDN. Helikon Investments Ltd grew its position in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 259.8% in the 1st quarter. Helikon Investments Ltd now owns 2,031,036 shares of the utilities provider’s stock valued at $62,028,000 after buying an additional 1,466,500 shares during the last quarter. BNP Paribas Financial Markets grew its position in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 634.5% in the 2nd quarter. BNP Paribas Financial Markets now owns 277,104 shares of the utilities provider’s stock valued at $7,340,000 after buying an additional 239,379 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 9.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 596,866 shares of the utilities provider’s stock valued at $18,228,000 after buying an additional 52,478 shares during the last quarter. GAMMA Investing LLC grew its position in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 2,523.4% in the 1st quarter. GAMMA Investing LLC now owns 41,870 shares of the utilities provider’s stock valued at $1,371,000 after buying an additional 40,274 shares during the last quarter. Finally, Cubist Systematic Strategies LLC grew its position in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 141.2% in the 1st quarter. Cubist Systematic Strategies LLC now owns 39,031 shares of the utilities provider’s stock valued at $1,192,000 after buying an additional 22,848 shares during the last quarter. 1.64% of the stock is currently owned by hedge funds and other institutional investors.

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

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.