Enel Chile (NYSE:ENIC) Announces Quarterly Earnings Results

Enel Chile (NYSE:ENIC) announced its quarterly earnings results on Wednesday. The utilities provider reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.01, Zacks reports. The firm had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $1.12 billion. Enel Chile had a net margin of 12.30% and a return on equity of 10.20%.

Enel Chile Stock Down 1.8%

NYSE ENIC traded down $0.07 during trading hours on Friday, reaching $4.16. The company’s stock had a trading volume of 321,429 shares, compared to its average volume of 631,374. Enel Chile has a 1 year low of $3.64 and a 1 year high of $4.74. The company has a market capitalization of $5.75 billion, a price-to-earnings ratio of 9.89 and a beta of 1.02. The firm’s 50-day moving average price is $4.37 and its 200-day moving average price is $4.33.

Wall Street Analysts Forecast Growth

ENIC has been the topic of a number of research reports. Weiss Ratings restated a “hold (c)” rating on shares of Enel Chile in a research note on Thursday, October 15th. Itau BBA Securities downgraded Enel Chile to a “market perform” rating in a report on Friday, July 10th. Finally, Bank of America began coverage on Enel Chile in a research note on Thursday, October 15th. They set a “neutral” rating for the company. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $4.65.

About Enel Chile

Enel Chile SA is a Chilean electricity company and part of the global Enel Group. The company operates across the power sector, with activities that include electricity generation, distribution and the development of renewable-energy projects.

Through its generation businesses, including Enel Generación Chile and Enel Green Power Chile, Enel Chile produces electricity from a diversified mix of sources such as hydropower, solar, wind and thermal generation. Its renewable-energy operations support the development and operation of utility-scale clean-energy facilities in Chile.

Enel Chile also provides electricity distribution services through Enel Distribución Chile, serving residential, commercial and industrial customers in the Santiago metropolitan area and surrounding locations.