CEMIG (CIG) Trading Down 3.5%

CEMIG (NYSE:CIG)’s share price traded down 3.5% on Thursday . The stock traded as low as $2.54 and last traded at $2.66. 443,130 shares were traded during mid-day trading, a decline of 89% from the average session volume of 4,003,283 shares. The stock had previously closed at $2.57.

Several equities analysts recently weighed in on the company. UBS Group upgraded CEMIG from a “hold” rating to a “buy” rating in a research note on Tuesday. ValuEngine lowered CEMIG from a “hold” rating to a “sell” rating in a research note on Tuesday, October 2nd.

The company has a debt-to-equity ratio of 0.81, a current ratio of 0.89 and a quick ratio of 0.88. The company has a market cap of $2.15 billion, a price-to-earnings ratio of 10.96 and a beta of 1.67.

CEMIG (NYSE:CIG) last announced its quarterly earnings results on Tuesday, September 11th. The utilities provider reported ($0.01) earnings per share for the quarter. CEMIG had a net margin of 4.26% and a return on equity of 6.47%. The business had revenue of $1.54 billion during the quarter. As a group, analysts forecast that CEMIG will post 0.35 earnings per share for the current year.

CEMIG Company Profile (NYSE:CIG)

Companhia Energética de Minas Gerais, through its subsidiaries, engages in the generation, transmission, distribution, and sale of electricity in Brazil. The company generates electricity through renewable energy sources, such as water, wind, sun, and biomass; or non-renewable sources, including fossil and nuclear fuels.

Read More: Return on Equity (ROE)

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