How Companhia Energetica de Minas Gerais (CIG) Works From A Technical Perspective

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Companhia Energetica de Minas Gerais (NYSE:CIG) finished Thursday with an addition of $0.09 to close at $2.37, an upside of 3.95 percent. An average of 5,120,680 shares of common stock have been traded in the last five days. There was a gain of $0.14 in the past week, and it reached a new high 22 times over the past 12 months. The last 20 days have seen an average of 4,416,695 shares traded, while the 50-day average volume stands at 4,044,566.

CIG stock has decreased by -8.14% in the last month. The company shares reached their 1-month lowest point of $2.17 on 09/19/22. With the stock rallying to its 52-week high on 08/24/22, shares of the company touched a low of $1.64 and a high of $2.62 in 52 weeks. It has reached a new high 30 times so far this year and achieved 26.79% or $0.50 in price. In spite of this, the price is down -9.54% from the 52-week high.

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Valuation Metrics

Companhia Energetica de Minas Gerais (CIG) has a trailing price-to-earnings (P/E) ratio of 9.08. The stock’s beta is 0.61. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 0.91, the price-to-book (PB) ratio at 1.35, and the price-to-cash flow ratio at 16.36.

The company has a payout ratio of 314.00%. The company’s most recent quarterly dividend payment was $0.13 a share, representing a up of 815.49% from $0.0142 last year. Its latest increase dividend $0.1158 reported on Friday April 6 2018.

Financial Health

The quick ratio of Companhia Energetica de Minas Gerais for the three months ended June 29 was 1.20, and the current ratio was 1.20, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.51 and a total debt to equity ratio of 0.56 for the quarter ending June 29. Its gross profit as reported stood at $1.0 billion compared to revenue of $6.23 billion.

Earnings Surprise

For the three-month period that ended June 29, Companhia Energetica de Minas Gerais had $181.0 million in total debt. In the quarter under review, the net income was down than the previous quarter. The company posted a net income of $712.69 million in the quarter, while revenues were shrunk -301.86%. The analyst consensus anticipated Companhia Energetica de Minas Gerais’s latest quarter earnings to come in at $0.01 per share, but it turned out to be $0.22, a 2,100.00% surprise. For the quarter, EBITDA amounted to $331.58 million.

Technical Picture

From a technical analysis perspective, let’s take a brief look at Companhia Energetica de Minas Gerais (CIG) price momentum. RSI 9-day as of the close on 22 September was 54.36%, suggesting the stock is Neutral, with historical volatility in this time frame at 47.47%.

As of today, CIG’s price is $2.30 +6.28% or $0.14 from its 5-day moving average. CIG is currently trading -7.42% lower than its 20-day SMA and +1.68% higher than its 100-day SMA. However, the stock’s current price level is +20.30% above the SMA50 and +29.45% above the SMA200.

The stochastic %K and %D were 53.59% and 45.63%, respectively, and the average true range (ATR) was 0.08. With the 14-day stochastic at 71.45% and the average true range at 0.08, the RSI (14) stands at 52.57%. The stock has reached 0.02 on the 9-day MACD Oscillator while the 14-day reading was at -0.01.

Analyst Ratings

Goldman launched coverage on Companhia Energetica de Minas Gerais (NYSE: CIG) in its analyst report released on November 14, 2019. The firm assigned the stock a Buy rating.

What is CIG’s price target for the next 12 months?

Analysts predict a range of price targets between $2.14 and $2.14, with a median target of $2.14. Taking a look at these predictions, the average price target given by analysts for Companhia Energetica de Minas Gerais (CIG) stock is $2.14.


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