Enel (OTCMKTS:ENLAY) Shares Gap Up – Time to Buy?

Enel SpA (OTCMKTS:ENLAY) shares gapped up before the market opened on Monday . The stock had previously closed at $11.23, but opened at $11.89. Enel shares last traded at $11.32, with a volume of 8,580 shares trading hands.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ENLAY. Morgan Stanley restated an “underweight” rating on shares of Enel in a research report on Wednesday, July 1st. Citigroup reissued a “neutral” rating on shares of Enel in a research note on Tuesday, May 19th. One analyst has rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Reduce”.

Enel Trading Down 0.7%

The company has a current ratio of 0.80, a quick ratio of 0.72 and a debt-to-equity ratio of 1.16. The stock has a market capitalization of $113.87 billion, a price-to-earnings ratio of 14.74, a PEG ratio of 3.52 and a beta of 0.81. The firm has a 50-day moving average of $11.33 and a 200 day moving average of $11.20.

Enel (OTCMKTS:ENLAY) last announced its earnings results on Thursday, May 7th. The utilities provider reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.01). The business had revenue of $23.95 billion during the quarter, compared to analysts’ expectations of $26.61 billion. As a group, equities analysts predict that Enel SpA will post 0.85 EPS for the current fiscal year.

About Enel

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.