Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) Sees Large Volume Increase – Still a Buy?

Shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) saw unusually-strong trading volume on Tuesday. Approximately 176,413 shares changed hands during trading, an increase of 45% from the previous session’s volume of 121,820 shares. The stock last traded at $20.7040 and had previously closed at $20.47.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, August 14th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) presently has a consensus rating of “Reduce”.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) Price Performance

The company has a 50 day moving average of $22.80 and a two-hundred day moving average of $25.03. The firm has a market cap of $937.60 million, a P/E ratio of 4.93 and a beta of 1.35. The company has a quick ratio of 1.28, a current ratio of 1.46 and a debt-to-equity ratio of 0.49.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) last released its earnings results on Tuesday, August 11th. The utilities provider reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.81. Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) had a return on equity of 10.31% and a net margin of 7.46%. The firm had revenue of $618.97 million for the quarter, compared to analyst estimates of $217.79 million. Sell-side analysts expect that Empresa Distribuidora Y Comercializadora Norte S.A. will post 0.17 EPS for the current year.

Hedge Funds Weigh In On 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 position in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 10,620 shares of the utilities provider’s stock, valued at approximately $265,000. Institutional investors own 1.64% of the company’s stock.

About Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor)

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.