Empresa Distribuidora y Cmrz Nrt (EDN) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research downgraded shares of Empresa Distribuidora y Cmrz Nrt (NYSE:EDN) from a hold rating to a strong sell rating in a research report report published on Thursday, 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. “

A number of other analysts have also weighed in on EDN. ValuEngine lowered shares of Empresa Distribuidora y Cmrz Nrt from a hold rating to a sell rating in a report on Tuesday, February 19th. Santander lowered shares of Empresa Distribuidora y Cmrz Nrt from a hold rating to an underperform rating in a report on Tuesday, February 26th. Four research analysts have rated the stock with a sell rating, Empresa Distribuidora y Cmrz Nrt currently has an average rating of Sell and an average price target of $22.75.

Empresa Distribuidora y Cmrz Nrt stock traded down $0.16 during midday trading on Thursday, reaching $19.22. 37,065 shares of the stock were exchanged, compared to its average volume of 77,540. The company has a current ratio of 0.65, a quick ratio of 0.59 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $878.36 million, a PE ratio of 5.60 and a beta of 0.60. Empresa Distribuidora y Cmrz Nrt has a 52 week low of $15.37 and a 52 week high of $49.25.

Empresa Distribuidora y Cmrz Nrt (NYSE:EDN) last posted its earnings results on Friday, March 22nd. The utilities provider reported $1.34 earnings per share for the quarter. The business had revenue of $572.60 million for the quarter. Empresa Distribuidora y Cmrz Nrt had a net margin of 7.51% and a return on equity of 44.37%. Research analysts forecast that Empresa Distribuidora y Cmrz Nrt will post 1.95 earnings per share for the current year.

Several large investors have recently modified their holdings of the company. Deutsche Bank AG increased its holdings in shares of 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 worth $62,000 after buying an additional 1,700 shares during the last quarter. Eaton Vance Management increased its holdings in shares of Empresa Distribuidora y Cmrz Nrt by 33.7% in the 4th quarter. Eaton Vance Management now owns 16,275 shares of the utilities provider’s stock worth $440,000 after buying an additional 4,100 shares during the last quarter. Legal & General Group Plc bought a new position in shares of Empresa Distribuidora y Cmrz Nrt in the 3rd quarter worth $129,000. Acadian Asset Management LLC bought a new position in shares of Empresa Distribuidora y Cmrz Nrt in the 1st quarter worth $177,000. Finally, Northern Trust Corp bought a new position in shares of Empresa Distribuidora y Cmrz Nrt in the 4th quarter worth $260,000. 7.39% of the stock is currently owned by hedge funds and other institutional investors.

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.

Featured Article: What is range trading?

Get a free copy of the Zacks research report on Empresa Distribuidora y Cmrz Nrt (EDN)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Empresa Distribuidora y Cmrz Nrt Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Empresa Distribuidora y Cmrz Nrt and related companies with MarketBeat.com's FREE daily email newsletter.