CEMIG (CIG) Trading Down 3.5%

CEMIG (NYSE:CIG)’s share price was down 3.5% during mid-day trading on Thursday . The company traded as low as $2.54 and last traded at $2.66. Approximately 443,130 shares were traded during mid-day trading, a decline of 89% from the average daily volume of 4,003,283 shares. The stock had previously closed at $2.57.

A number of equities analysts recently issued reports on CIG shares. ValuEngine lowered CEMIG from a “hold” rating to a “sell” rating in a research note on Tuesday, October 2nd. UBS Group upgraded CEMIG from a “hold” rating to a “buy” rating in a research note on Tuesday.

The company has a market cap of $2.15 billion, a price-to-earnings ratio of 10.96 and a beta of 1.67. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.81.

CEMIG (NYSE:CIG) last released its quarterly earnings data on Tuesday, September 11th. The utilities provider reported ($0.01) earnings per share for the quarter. The company had revenue of $1.54 billion for the quarter. CEMIG had a net margin of 4.26% and a return on equity of 6.47%. Analysts expect that CEMIG will post 0.35 earnings per share for the current year.

About CEMIG (NYSE:CIG)

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.

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