Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) Downgraded by Zacks Investment Research

Zacks Investment Research lowered shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) from a buy rating to a hold rating in a report published on Monday 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. “

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima stock opened at $3.56 on Monday. The business has a 50 day moving average price of $3.58 and a two-hundred day moving average price of $3.55. The company has a quick ratio of 0.64, a current ratio of 0.69 and a debt-to-equity ratio of 0.11. The stock has a market cap of $161.34 million, a price-to-earnings ratio of -5.09 and a beta of 0.58. Empresa Distribuidora y Comercializadora Norte Sociedad Anónima has a 12 month low of $2.81 and a 12 month high of $4.84.

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) last issued its earnings results on Thursday, March 11th. The utilities provider reported $0.50 earnings per share (EPS) for the quarter. Empresa Distribuidora y Comercializadora Norte Sociedad Anónima had a negative return on equity of 2.95% and a negative net margin of 2.20%. The business had revenue of $228.64 million during the quarter. On average, analysts expect that Empresa Distribuidora y Comercializadora Norte Sociedad Anónima will post -3.38 earnings per share for the current fiscal year.

An institutional investor recently bought a new position in Empresa Distribuidora y Comercializadora Norte Sociedad Anónima stock. Renaissance Technologies LLC purchased a new position in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 61,000 shares of the utilities provider’s stock, valued at approximately $259,000. Renaissance Technologies LLC owned about 0.13% of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima at the end of the most recent reporting period. 0.90% of the stock is owned by hedge funds and other institutional investors.

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima Company Profile

Edenor SA engages inthe provision pf electric power distribution services. It holds a concession to distribute electricity to the northwestern part of the greater Buenos Aires metropolitan area and in the northern part of Buenos Aires. The company was founded on July 21, 1992 and is headquartered in Buenos Aires, Argentina.

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