Companhia Energetica de Minas Gerais (NYSE:CIG) saw an upside of 1.69% to close Monday at $2.41 after adding $0.04 on the day. The 5-day average trading volume is 14,028,560 shares of the company’s common stock. It has gained $2.44 in the past week and touched a new high 1 time within the past 5 days. An average of 5,345,860 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 4,530,010.
CIG’s 1-month performance is -6.95% or -$0.18 on its low of $2.32 reached on 08/21/23. The company’s shares have touched a 52-week low of $1.69 and high of $2.68, with the stock’s rally to the 52-week high happening on 06/23/23. YTD, CIG has achieved 22.62% or $0.38 and has reached a new high 20 times. However, the current price is down -10.07% from the 52-week high price.
Valuation Metrics
CIG stock has a beta of 0.82. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 0.90 while the price-to-book (PB) in the most recent quarter is 1.12, with the price to cash flow ratio at 10.03.
. In terms of profitability, the gross margin trailing 12 months is 21.10%. The firm’s gross profit as reported stood at $927.63 million against revenue of $6.68 billion.
Earnings Surprise
Net income grew 8.33% to $777.48 million, while revenue of $0.0 was 100.0% off the previous quarter. CIG stock balance sheet for the recent quarter shows that total liabilities totaled 6.02 billion, with total debt at $12.25 billion.
Let’s look briefly at Companhia Energetica de Minas Gerais (CIG) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 21 August was 42.27% to suggest the stock is trending Neutral, with historical volatility in this time period at 25.86%.
The stock’s 5-day moving average is $2.37, reflecting a -1.63% or -$0.04 change from its current price. CIG is currently trading -9.06% above its 20-day SMA, +13.15% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +0.84% and SMA200 by+5.70%.
Stochastic %K and %D was 18.02% and 14.17% and the average true range (ATR) pointed at 0.06. The RSI (14) points at 42.34%, while the 14-day stochastic is at 31.03% with the period’s ATR at 0.06. The stock’s 9-day MACD Oscillator is pointing at -0.02 and -0.05 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for Companhia Energetica de Minas Gerais (NYSE: CIG), Goldman launched coverage with a Buy rating. Analysts offering their rating for CIG stock have a consensus rating for the stock as Hold. Currently, 0 brokerage advisors rate CIG as a “sell,”, while 6 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 0 rates the stock as overweight while 0 have offered a “buy” rating.
What is CIG’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $2.14 and a high of $2.14, with their median price target at $2.14. Looking at these predictions, the average price target given by analysts is for Companhia Energetica de Minas Gerais (CIG) stock is $2.14.
