Shares of CEMIG (NYSE:CIG - Get Free Report) gapped up prior to trading on Monday . The stock had previously closed at $1.90, but opened at $1.97. CEMIG shares last traded at $1.96, with a volume of 145,212 shares.
Analysts Set New Price Targets
Separately, Scotiabank initiated coverage on shares of CEMIG in a report on Thursday. They set a "sector perform" rating on the stock.
Get Our Latest Stock Analysis on CEMIG
CEMIG Stock Performance
The company has a market capitalization of $5.64 billion, a price-to-earnings ratio of 4.72 and a beta of 1.30. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.28. The firm has a 50-day simple moving average of $2.02 and a two-hundred day simple moving average of $1.96.
CEMIG (NYSE:CIG - Get Free Report) last released its quarterly earnings data on Tuesday, August 13th. The utilities provider reported $0.07 EPS for the quarter. The firm had revenue of $1.81 billion for the quarter. CEMIG had a return on equity of 21.49% and a net margin of 15.70%. As a group, sell-side analysts forecast that CEMIG will post 0.36 earnings per share for the current fiscal year.
CEMIG Increases Dividend
The firm also recently disclosed a dividend, which was paid on Monday, September 9th. Investors of record on Monday, August 26th were paid a $0.0908 dividend. The ex-dividend date was Monday, August 26th. This is a positive change from CEMIG's previous dividend of $0.03. CEMIG's payout ratio is presently 40.70%.
About CEMIG
(
Get Free Report)
Companhia Energética de Minas Gerais, through its subsidiaries, engages in the generation, transmission, distribution, and sale of electricity in Brazil. The company generates electricity through renewable energy sources, such as water, wind, sun, and biomass; or non-renewable sources, including fossil and nuclear fuels.
Further Reading
Before you consider CEMIG, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and CEMIG wasn't on the list.
While CEMIG currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Just getting into the stock market? These 10 simple stocks can help beginning investors build long-term wealth without knowing options, technicals, or other advanced strategies.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
