Empresa Distribuidora y Cmrz Nrt (NYSE:EDN) Upgraded to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Empresa Distribuidora y Cmrz Nrt (NYSE:EDN) from a strong sell rating to a hold rating in a report issued on Wednesday morning, Zacks.com reports.

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. “

Other equities research analysts have also recently issued reports about the company. ValuEngine cut Verso from a hold rating to a sell rating in a report on Thursday, May 23rd. TheStreet cut Viavi Solutions from a b- rating to a c+ rating in a report on Monday, June 3rd. Two equities research analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. Empresa Distribuidora y Cmrz Nrt presently has an average rating of Hold and an average target price of $19.00.

EDN stock opened at $21.19 on Wednesday. The company’s fifty day simple moving average is $18.70. Empresa Distribuidora y Cmrz Nrt has a fifty-two week low of $15.37 and a fifty-two week high of $36.10. The firm has a market cap of $960.33 million, a PE ratio of 6.18 and a beta of 0.47. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.66 and a quick ratio of 0.58.

Empresa Distribuidora y Cmrz Nrt (NYSE:EDN) last released its quarterly earnings results on Tuesday, May 14th. The utilities provider reported $0.08 earnings per share for the quarter. Empresa Distribuidora y Cmrz Nrt had a return on equity of 15.51% and a net margin of 4.39%. The firm had revenue of $410.86 million during the quarter. As a group, equities research analysts forecast that Empresa Distribuidora y Cmrz Nrt will post 1.95 earnings per share for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the business. Deutsche Bank AG boosted its position in Empresa Distribuidora y Cmrz Nrt by 283.3% in the 4th quarter. Deutsche Bank AG now owns 2,300 shares of the utilities provider’s stock valued at $62,000 after buying an additional 1,700 shares during the last quarter. Northern Trust Corp bought a new position in Empresa Distribuidora y Cmrz Nrt in the 4th quarter valued at $260,000. Legal & General Group Plc boosted its position in Empresa Distribuidora y Cmrz Nrt by 213.2% in the 4th quarter. Legal & General Group Plc now owns 16,136 shares of the utilities provider’s stock valued at $437,000 after buying an additional 10,984 shares during the last quarter. Finally, Bienville Capital Management LLC boosted its position in Empresa Distribuidora y Cmrz Nrt by 286.5% in the 1st quarter. Bienville Capital Management LLC now owns 122,065 shares of the utilities provider’s stock valued at $2,393,000 after buying an additional 90,485 shares during the last quarter. Hedge funds and other institutional investors own 7.56% of the company’s stock.

About Empresa Distribuidora y Cmrz Nrt

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima, 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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