So Far This Year, Companhia Energetica de Minas Gerais (CIG) Reached A New High 4 times

As of Friday close, Companhia Energetica de Minas Gerais’s (NYSE:CIG) stock was up $0.12, moving up 4.74 percent to $2.65. The average number of shares traded per day over the past five days has been 5,530,100 shares. 4 times new highs have been achieved over the past 5 days, with a $0.12 gain in that time frame. In the last twenty days, the average volume was 6,817,925, while in the previous 50 days, it was 6,345,338.

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Since last month, CIG stock rose 3.28%. Shares of the company fell to $2.46 on 05/10/22, the lowest level in the past month. A 52-week high of $2.80 was reached on 04/18/22 after having rallying from a 52-week low of $1.55. Since the beginning of this year, CIG’s stock price has risen by 40.68% or $0.22, and marked a new high 29 times. However, the stock has declined by -5.35% since its 52-week high.

Valuation Metrics

Right now, Companhia Energetica de Minas Gerais (CIG) has a P/E ratio of about 6.01. The stock’s beta is 0.53. Besides these, the trailing price-to-sales (P/S) ratio of 0.78, the price-to-book (PB) ratio of 1.16, and the price-to-cash flow ratio of 12.58 may also be considered.

The latest dividend of $0.13 per share was paid out, which is 816.78% more than last year’s $0.014180. On Friday April 6 2018, a $0.115820 dividend increase was announced.

Financial Health

According to company report, the long-term debt-to-equity ratio for the quarter ending June 29 was 0.52, and the total debt-to-equity ratio was 0.60. On the profitability front, the trailing twelve-month gross margin is 20.00% percent. In the year ended June 29, operating margins totaled 20.00%. Based on annual data, CIG earned $736.42 million in gross profit and brought in $4.89 billion in revenue.

A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was 18.60%. Return on equity (ROE) for the past 12 months was 19.40%.

In Companhia Energetica de Minas Gerais’s quarter-end financial report for June 29, it reported total debt of $181.0 million. According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. CIG’s revenue fell -0.64% during the quarter, while net income inched up to $25.23 billion. While analysts expected Companhia Energetica de Minas Gerais to report $0.01 quarterly earnings, the actual figure was $0.22 per share. During the quarter, the company generated $288.44 million in EBITDA. The liabilities of Companhia Energetica de Minas Gerais were 6.29 billion at the end of its most recent quarter ended June 29, and its total debt was $11.61 billion.

Technical Picture

This quick technical analysis looks at Companhia Energetica de Minas Gerais’s (CIG) price momentum. With a historical volatility rate of 39.04%, the RSI 9-day stood at 41.92% on 13 May.

With respect to its five-day moving average, the current Companhia Energetica de Minas Gerais price is up by +4.74% percent or $0.12. At present, CIG shares trade -20.42% below its 20-day simple moving average and +11.34% percent above its 100-day simple moving average. However, the stock is currently trading approximately -0.75% below its SMA50 and +14.22% above its SMA200.

Stochastic coefficient K was 15.11% and Stochastic coefficient D was 10.00%, while ATR was 0.12. Given the Stochastic reading of 25.34% for the 14-day period, the RSI (14) reading has been calculated as 40.85%.

Analyst Ratings

Goldman launched its rating on Companhia Energetica de Minas Gerais (NYSE: CIG) to a Buy in a note to investors on November 14, 2019. Companhia Energetica de Minas Gerais (CIG) has been rated Overweight by analysts. According to 1 brokerage firm, CIG is a sell, and 6 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 0 analysts rate Companhia Energetica de Minas Gerais stock as buy, with 4 recommending it as overweight.

With a median target price of $2.14, the current consensus forecast for the stock is $2.14 – $2.14. Based on these forecasts, analysts predict Companhia Energetica de Minas Gerais (CIG) will achieve an average price target of $2.14.


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