Empresa Distribuidora y Cmrz Nrt SA (EDN) Receives $26.50 Average PT from Analysts

Empresa Distribuidora y Cmrz Nrt SA (NYSE:EDN) has earned an average recommendation of “Sell” from the six brokerages that are currently covering the firm, Marketbeat Ratings reports. Four analysts have rated the stock with a sell recommendation. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $26.50.

A number of research analysts recently issued reports on the stock. Zacks Investment Research downgraded shares of Empresa Distribuidora y Cmrz Nrt from a “hold” rating to a “strong sell” rating in a research report on Thursday, May 9th. Santander downgraded shares of Empresa Distribuidora y Cmrz Nrt from a “hold” rating to an “underperform” rating in a research report on Tuesday, February 26th. Finally, ValuEngine downgraded shares of Empresa Distribuidora y Cmrz Nrt from a “hold” rating to a “sell” rating in a research report on Tuesday, February 19th.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in EDN. Deutsche Bank AG grew its position in Empresa Distribuidora y Cmrz Nrt by 283.3% during the fourth quarter. Deutsche Bank AG now owns 2,300 shares of the utilities provider’s stock valued at $62,000 after buying an additional 1,700 shares during the period. Morgan Stanley lifted its holdings in shares of Empresa Distribuidora y Cmrz Nrt by 16.1% in the first quarter. Morgan Stanley now owns 6,474 shares of the utilities provider’s stock worth $127,000 after buying an additional 896 shares in the last quarter. Legal & General Group Plc purchased a new stake in Empresa Distribuidora y Cmrz Nrt in the third quarter valued at approximately $129,000. Acadian Asset Management LLC purchased a new stake in Empresa Distribuidora y Cmrz Nrt in the first quarter valued at approximately $177,000. Finally, Truvvo Partners LLC purchased a new stake in Empresa Distribuidora y Cmrz Nrt in the first quarter valued at approximately $197,000. Hedge funds and other institutional investors own 7.39% of the company’s stock.

Shares of NYSE EDN traded down $0.39 during midday trading on Friday, reaching $18.44. The stock had a trading volume of 64,368 shares, compared to its average volume of 84,056. The company has a market capitalization of $846.63 million, a P/E ratio of 5.38 and a beta of 0.60. Empresa Distribuidora y Cmrz Nrt has a twelve month low of $15.37 and a twelve month high of $49.25. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.59 and a current ratio of 0.66.

Empresa Distribuidora y Cmrz Nrt (NYSE:EDN) last issued its quarterly earnings results on Friday, March 22nd. The utilities provider reported $1.34 earnings per share (EPS) for the quarter. Empresa Distribuidora y Cmrz Nrt had a net margin of 4.39% and a return on equity of 15.51%. The firm had revenue of $572.60 million for the quarter. Analysts forecast that Empresa Distribuidora y Cmrz Nrt will post 1.95 earnings per share for the current year.

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.

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