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

Shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) traded down 5.1% during mid-day trading on Monday. The stock traded as low as $19.43 and last traded at $19.3610. Approximately 72,689 shares traded 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.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings lowered 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 equities 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, the stock presently has an average rating of “Reduce”.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) Stock Down 2.5%

The stock has a 50 day moving average of $22.47 and a 200-day moving average of $24.76. The firm has a market capitalization of $855.04 million, a P/E ratio of 4.63 and a beta of 1.35. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.28 and a current ratio of 1.46.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) last announced its quarterly earnings results on Tuesday, August 11th. The utilities provider reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.81. The company had revenue of $618.97 million for the quarter, compared to analysts’ expectations 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%. Research analysts predict that Empresa Distribuidora Y Comercializadora Norte S.A. will post 0.17 earnings per share for the current fiscal year.

Institutional Trading of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor)

An institutional investor recently bought a new position in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) stock. Engineers Gate Manager LP bought a new stake in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 10,620 shares of the utilities provider’s stock, valued at approximately $265,000. 1.64% of the stock is owned by institutional investors and hedge funds.

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.