StockNews.com Lowers Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) to Hold

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Wednesday.

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima Trading Down 5.2 %

Shares of NYSE EDN opened at $18.06 on Wednesday. The company has a current ratio of 0.79, a quick ratio of 0.67 and a debt-to-equity ratio of 0.18. Empresa Distribuidora y Comercializadora Norte Sociedad Anónima has a one year low of $8.50 and a one year high of $21.80. The business has a 50-day moving average price of $17.89 and a two-hundred day moving average price of $17.50. The firm has a market capitalization of $818.48 million, a PE ratio of 2.85 and a beta of 1.46.

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) last posted its quarterly earnings results on Monday, March 11th. The utilities provider reported ($0.25) earnings per share for the quarter. The firm had revenue of $785.09 million for the quarter. Empresa Distribuidora y Comercializadora Norte Sociedad Anónima had a return on equity of 25.90% and a net margin of 14.11%. As a group, analysts predict that Empresa Distribuidora y Comercializadora Norte Sociedad Anónima will post -4.42 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Empresa Distribuidora y Comercializadora Norte Sociedad Anónima

Hedge funds have recently modified their holdings of the business. BNP Paribas Financial Markets boosted its position in shares of 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 valued at $56,000 after acquiring an additional 2,976 shares during the period. Autonomy Capital Jersey L.P. acquired a new position in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima in the third quarter valued at $78,000. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima by 14.2% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 74,529 shares of the utilities provider’s stock valued at $894,000 after purchasing an additional 9,263 shares in the last quarter. Citigroup Inc. acquired a new position in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima in the third quarter valued at $1,179,000. Finally, Helikon Investments Ltd raised its stake in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima by 10.1% in the fourth quarter. Helikon Investments Ltd now owns 299,317 shares of the utilities provider’s stock valued at $5,798,000 after purchasing an additional 27,578 shares in the last quarter. 1.64% of the stock is owned by institutional investors.

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.