Zacks Investment Research cut shares of Empresa Distribuidora y Cmrz Nrt (NYSE:EDN) from a hold rating to a sell rating in a research report report published on Friday morning.

According to Zacks, “EMPRESA DISTRIBUIDORA Y COMERCIALIZADORA NORTE S.A. (Edenor) is the largest electricity distribution company in Argentina in terms of number of customers and electricity sold (both in GWh and Pesos). Through a concession, Edenor distributes electricity exclusively to the northwestern zone of the greater Buenos Aires metropolitan area and the northern part of the city of Buenos Aires, which has a population of approximately 7 million people and an area of 4,637 sq. km. “

EDN has been the subject of several other reports. Bank of America downgraded shares of Empresa Distribuidora y Cmrz Nrt from a neutral rating to an underperform rating in a research note on Friday, September 14th. ValuEngine upgraded shares of Empresa Distribuidora y Cmrz Nrt from a sell rating to a hold rating in a research note on Thursday, November 15th. Finally, TheStreet upgraded shares of Empresa Distribuidora y Cmrz Nrt from a d+ rating to a c rating in a research note on Tuesday, November 13th. Two analysts have rated the stock with a sell rating and two have given a hold rating to the company’s stock. The company has an average rating of Hold and a consensus target price of $36.75.

Shares of EDN stock opened at $26.75 on Friday. The firm has a market capitalization of $1.20 billion, a PE ratio of -26.75 and a beta of 0.96. The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 3.90. Empresa Distribuidora y Cmrz Nrt has a twelve month low of $19.05 and a twelve month high of $63.29.

Empresa Distribuidora y Cmrz Nrt (NYSE:EDN) last announced its earnings results on Tuesday, November 13th. The utilities provider reported $0.64 earnings per share for the quarter. The business had revenue of $450.14 million during the quarter. Empresa Distribuidora y Cmrz Nrt had a net margin of 5.09% and a return on equity of 112.26%. On average, research analysts predict that Empresa Distribuidora y Cmrz Nrt will post 1.86 EPS for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Legal & General Group Plc bought a new position in Empresa Distribuidora y Cmrz Nrt during the 3rd quarter valued at $129,000. CarVal Investors LLC bought a new position in Empresa Distribuidora y Cmrz Nrt during the 2nd quarter valued at $292,000. Eaton Vance Management boosted its stake in Empresa Distribuidora y Cmrz Nrt by 37.2% during the 3rd quarter. Eaton Vance Management now owns 12,175 shares of the utilities provider’s stock valued at $304,000 after acquiring an additional 3,300 shares during the last quarter. Acadian Asset Management LLC bought a new position in Empresa Distribuidora y Cmrz Nrt during the 3rd quarter valued at $462,000. Finally, Marshall Wace LLP bought a new position in Empresa Distribuidora y Cmrz Nrt during the 3rd quarter valued at $507,000. Hedge funds and other institutional investors own 7.30% of the company’s stock.

About Empresa Distribuidora y Cmrz Nrt

Empresa Distribuidora y Comercializadora Norte Sociedad AnĂ³nima, a public service company, engages in the distribution and sale of electricity in Argentina. It serves approximately 8.5 million people in the northwestern part of the greater Buenos Aires metropolitan area and the northern part of the City of Buenos Aires through the concession of 4,637 square kilometers.

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