Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) Shares Down 3.3%

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN)’s stock price was down 3.3% on Tuesday . The company traded as low as $23.37 and last traded at $23.70. Approximately 48,279 shares were traded during trading, a decline of 36% from the average daily volume of 75,409 shares. The stock had previously closed at $24.52.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima from a “buy” rating to a “hold” rating in a report on Wednesday, May 22nd.

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima Stock Up 0.7 %

The business has a 50-day moving average of $17.94 and a 200 day moving average of $17.49. The company has a market capitalization of $1.12 billion, a PE ratio of 3.88 and a beta of 1.40. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.76 and a quick ratio of 0.63.

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) last released its quarterly earnings data on Wednesday, August 7th. The utilities provider reported $1.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $1.51. The business had revenue of $551.43 million for the quarter. Empresa Distribuidora y Comercializadora Norte Sociedad Anónima had a return on equity of 31.06% and a net margin of 17.06%. During the same period in the previous year, the firm earned ($0.48) EPS. Equities research analysts predict that Empresa Distribuidora y Comercializadora Norte Sociedad Anónima will post -2.33 earnings per share for the current year.

Hedge Funds Weigh In On Empresa Distribuidora y Comercializadora Norte Sociedad Anónima

A number of institutional investors and hedge funds have recently modified their holdings of EDN. BNP Paribas Financial Markets lifted its position in Empresa Distribuidora y Comercializadora Norte Sociedad Anónima by 1,488.0% in the first quarter. BNP Paribas Financial Markets now owns 3,176 shares of the utilities provider’s stock worth $56,000 after buying an additional 2,976 shares during the last quarter. Ping Capital Management Inc. purchased a new stake in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima in the second quarter valued at $941,000. Finally, Helikon Investments Ltd lifted its holdings in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima by 10.1% in the 4th quarter. Helikon Investments Ltd now owns 299,317 shares of the utilities provider’s stock worth $5,798,000 after acquiring an additional 27,578 shares during the last quarter. Hedge funds and other institutional investors own 1.64% of the company’s stock.

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima Company Profile

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.