As of Wednesday close, Companhia Energetica de Minas Gerais – CEMIG’s (NYSE:CIG) stock was up $0.05, moving up 1.91 percent to $2.67. The average number of shares traded per day over the past five days has been 2,707,180 shares. 4 times new highs have been achieved over the past 5 days, with a $0.15 gain in that time frame. In the last twenty days, the average volume was 2,739,385, while in the previous 50 days, it was 3,962,690.
Since last month, CIG stock rose 10.79%. Shares of the company fell to $2.32 on 08/21/23, the lowest level in the past month. A 52-week high of $2.68 was reached on 06/23/23 after having rallying from a 52-week low of $1.69. Since the beginning of this year, CIG’s stock price has risen by 35.85% or $0.64, and marked a new high 20 times. However, the stock has declined by -0.37% since its 52-week high.
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Valuation Metrics
Right now, Companhia Energetica de Minas Gerais – CEMIG (CIG) has a P/E ratio of about 5.47. The stock’s beta is 0.79. Besides these, the trailing price-to-sales (P/S) ratio of 0.94, the price-to-book (PB) ratio of 1.21, and the price-to-cash flow ratio of 10.23 may also be considered.
The latest dividend of $0.13 per share was paid out, which is 815.49% more than last year’s $0.0142. On Friday April 6 2018, a $0.1158 dividend increase was announced.
Financial Health
According to company report, the long-term debt-to-equity ratio for the recent quarter was 0.48, and the total debt-to-equity ratio was 0.52. On the profitability front, the trailing twelve-month gross margin is 21.10% percent. In the recent year, EBITDA margin amounted to 20.59%, whereas operating margins totaled 18.10%. Based on annual data, CIG earned $927.63 million in gross profit and brought in $6.68 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 17.30%. Return on equity (ROE) for the past 12 months was 23.40%.
CIG’s revenue rose 2.37% during the quarter, while net income inched up to $6.55 billion. During the quarter, the company generated $304.29 million in EBITDA. The liabilities of Companhia Energetica de Minas Gerais – CEMIG were 6.25 billion at the end of its most recent quarter, and its total debt was $12.25 billion.
Technical Picture
This quick technical analysis looks at Companhia Energetica de Minas Gerais – CEMIG’s (CIG) price momentum. With a historical volatility rate of 13.31%, the RSI 9-day stood at 76.36% on 20 September.
With respect to its five-day moving average, the current Companhia Energetica de Minas Gerais – CEMIG price is up by +5.95% percent or $0.15. At present, CIG shares trade +9.88% above its 20-day simple moving average and +8.54% percent above its 100-day simple moving average. However, the stock is currently trading approximately +4.71% above its SMA50 and +23.61% above its SMA200.
Stochastic coefficient K was 90.43% and Stochastic coefficient D was 89.35%, while ATR was 0.06. Given the Stochastic reading of 96.81% for the 14-day period, the RSI (14) reading has been calculated as 68.39%. As of today, the MACD Oscillator reading stands at 0.08, while the 14-day reading stands at 0.13.
Analyst Ratings
BofA Securities upgraded its rating on Companhia Energetica de Minas Gerais – CEMIG (NYSE: CIG) to a Buy in a note to investors on September 20, 2023. The analysts firm previously had a Neutral rating on the stock.Companhia Energetica de Minas Gerais – CEMIG (CIG) has been rated Overweight by analysts. According to 0 brokerage firms, CIG is a sell, and 5 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 – CEMIG stock as buy, with 2 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 – CEMIG (CIG) will achieve an average price target of $2.14.
