Zacks Investment Research cut shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) from a buy rating to a hold rating in a research note released on Wednesday 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. “
NYSE EDN opened at $5.55 on Wednesday. The company has a fifty day simple moving average of $6.55 and a two-hundred day simple moving average of $5.40. The stock has a market cap of $242.83 million, a P/E ratio of -0.74 and a beta of 0.90. Empresa Distribuidora y Comercializadora Norte Sociedad Anónima has a 12-month low of $3.27 and a 12-month high of $7.90. The company has a current ratio of 0.56, a quick ratio of 0.53 and a debt-to-equity ratio of 0.13.
Edenor SA engages in the provision of 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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