In yesterday’s Wall Street session, Cia Energetica DE Minas Gerais – Cemig ADR (NYSE:CIG) shares traded at $2.72, up 2.26% from the previous session.
As of this writing, 6 analysts cover Cia Energetica DE Minas Gerais – Cemig ADR (NYSE:CIG). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $2.14 and a low of $2.14, we find $2.14. Given the previous closing price of $2.66, this indicates a potential downside of -19.55 percent. CIG stock price is now 11.13% away from the 50-day moving average and 15.83% away from the 200-day moving average. The market capitalization of the company currently stands at $3.98B.
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There are 3 analysts who have given it a hold rating, whereas 3 have given it a buy rating. Brokers who have rated the stock have averaged $2.14 as their price target over the next twelve months.
With the price target maintained at $2.90, HSBC Securities recently Upgraded its rating from Hold to Buy for Cia Energetica DE Minas Gerais – Cemig ADR (NYSE: CIG).
A total of 0.00% of the company’s stock is owned by insiders.
Thursday morning saw Cia Energetica DE Minas Gerais – Cemig ADR (NYSE: CIG) opened at $2.7400. During the past 12 months, Cia Energetica DE Minas Gerais – Cemig ADR has had a low of $1.69 and a high of $2.70. As of last week, the company has a debt-to-equity ratio of 0.55, a current ratio of 1.30, and a quick ratio of 1.30. The fifty day moving average price for CIG is $2.4544 and a two-hundred day moving average price translates $2.3760 for the stock.
The latest earnings results from Cia Energetica DE Minas Gerais – Cemig ADR (NYSE: CIG) was released for Sep, 2023. The net profit margin was 14.40% and return on equity was 24.78% for CIG. The company reported revenue of $1.78 billion for the quarter, compared to $1.67 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 6.75 percent.
Cia Energetica DE Minas Gerais – Cemig ADR(CIG) Company Profile
Companhia Energética de Minas Gerais – CEMIG, through its subsidiaries, engages in the generation, transmission, distribution, and sale of energy in Brazil. As of December 31, 2022, the company operated 69 hydroelectric, wind, and solar plants with an installed capacity of 5,519 MW; 351,163 miles of distribution lines; and 4,580 miles of transmission lines. It is also involved in the acquisition, transportation, and distribution of gas and its sub products and derivatives; provision of cloud solution, IT infrastructure, IT management, and cybersecurity services; provision of technology systems and systems for operational management of public service concessions; sale and trading of energy; provision of telecommunications services; and distributed generation, account services, cogeneration, energy efficiency, and supply and storage management activities. The company was incorporated in 1952 and is headquartered in Belo Horizonte, Brazil.
