Enel (OTCMKTS:ENLAY) Sees Unusually-High Trading Volume – Time to Buy?

Enel SpA (OTCMKTS:ENLAY) saw unusually-high trading volume on Wednesday . Approximately 1,100,670 shares traded hands during mid-day trading, an increase of 124% from the previous session’s volume of 490,406 shares.The stock last traded at $11.35 and had previously closed at $11.45.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Citigroup restated a “neutral” rating on shares of Enel in a research note on Wednesday, February 4th. Morgan Stanley cut shares of Enel from an “underweight” rating to an “underweight” rating in a report on Friday, May 1st. Finally, Barclays reissued an “overweight” rating on shares of Enel in a research report on Tuesday, February 24th. One investment analyst has rated the stock with a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce”.

Enel Price Performance

The firm has a 50-day simple moving average of $11.20 and a 200-day simple moving average of $10.80. The firm has a market cap of $111.43 billion, a P/E ratio of 14.42, a PEG ratio of 3.56 and a beta of 0.83. The company has a current ratio of 0.72, a quick ratio of 0.65 and a debt-to-equity ratio of 1.22.

Enel (OTCMKTS:ENLAY) last released its quarterly earnings results on Thursday, May 7th. The utilities provider reported $0.21 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.01). Enel had a return on equity of 12.66% and a net margin of 7.91%.The company had revenue of $23.95 billion during the quarter, compared to the consensus estimate of $26.61 billion. As a group, analysts forecast that Enel SpA will post 0.85 EPS for the current year.

Enel Company Profile

Enel S.p.A. is a multinational energy company headquartered in Rome, Italy. It specializes in the generation, distribution and sale of electricity and gas, serving residential, commercial and industrial customers. Enel’s business activities encompass both conventional thermal power plants and a growing portfolio of renewable energy assets, including wind, solar, hydroelectric and geothermal installations. The company also provides advanced energy management services, electric vehicle charging infrastructure and demand response solutions.

Founded in 1962 as a state-owned electricity provider, Enel underwent partial privatization starting in the late 1990s and was listed on the Milan Stock Exchange in 1999.