CEMIG (NYSE:CIG) Trading 5.1% Higher – Still a Buy?

CEMIG (NYSE:CIG)’s stock price traded up 5.1% on Thursday . The stock traded as high as $2.07 and last traded at $2.06. 642,080 shares traded hands during mid-day trading, a decline of 72% from the average session volume of 2,316,799 shares. The stock had previously closed at $1.96.

Analyst Ratings Changes

Separately, Scotiabank assumed coverage on shares of CEMIG in a research note on Thursday, October 31st. They issued a “sector perform” rating on the stock.

CEMIG Price Performance

The company’s 50 day moving average price is $2.01 and its two-hundred day moving average price is $1.96. 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 stock has a market cap of $5.91 billion, a P/E ratio of 4.94 and a beta of 1.30.

CEMIG (NYSE:CIG) last released its earnings results on Tuesday, August 13th. The utilities provider reported $0.07 EPS for the quarter. CEMIG had a net margin of 15.70% and a return on equity of 21.49%. The company had revenue of $1.81 billion for the quarter. Equities analysts forecast that CEMIG will post 0.36 earnings per share for the current year.

CEMIG Company Profile

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.