Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) Stock Price Down 5.1% – Should You Sell?

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN)’s share price was down 5.1% during mid-day trading on Monday. The company traded as low as $19.43 and last traded at $19.3610. Approximately 72,689 shares were traded 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.

Analysts Set New Price Targets

Separately, Weiss Ratings downgraded 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 investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Reduce”.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) Stock Down 4.8%

The firm’s 50 day simple moving average is $22.64 and its 200-day simple moving average is $24.92. The company has a current ratio of 1.46, a quick ratio of 1.28 and a debt-to-equity ratio of 0.49. The stock 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) last posted its quarterly earnings data on Tuesday, August 11th. The utilities provider reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.81. The company had revenue of $618.97 million during the quarter, compared to the consensus estimate of $217.79 million. Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) had a net margin of 7.46% and a return on equity of 10.31%. Equities analysts expect that Empresa Distribuidora Y Comercializadora Norte S.A. will post 0.17 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) stock. Engineers Gate Manager LP purchased a new stake in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 10,620 shares of the utilities provider’s stock, valued at approximately $265,000. 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.