Companhia Energetica de Minas Gerais (NYSE:CIG) does about 8.05M shares in volume on a normal day but saw 4397021 shares change hands in Monday trading. The company now has a market cap of 5.62B USD. Its current market price is $2.13, marking a decrease of -0.93% compared to the previous close of $2.15. The 52 week high reached by this stock is $2.47 whilst the lowest price level in 52 weeks is $1.67. The script in recent trading has seen the stock touch a high of $2.195 and a low of $2.12.
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Companhia Energetica de Minas Gerais (CIG) has a 20-day trading average at $2.11 and the current price is -13.73% off the 52-week high compared with 27.17% distance from its 52-week low. The 50-day simple moving average of the closing price is $2.07 and its 200-day simple moving average is $2.19. If we look at the stock’s price movements over the week, volatility stands at 3.45%, which increases to 3.63% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 53.51 to suggest the stock is neutral.
8 analysts observing the Companhia Energetica de Minas Gerais (CIG) stock have set the 12-month price targets for the company’s shares at between $2.14 and $2.14. The consensus objective for the share price is $2.44, suggesting that the stock has a potential upside of 12.7% over the period. The median price target is 0.47% away from the current levels at $2.14.
FactSet Research has provided data showing that 8 brokerages have issued ratings for the stock. 0 analysts have rated it as a sell, while 0 advise that it is a overweight. 0 analysts have rated it as a buy and 8 have advised that investors hold their positions. The consensus recommendation rating is Hold and Wall Street’s advice is for investors to Hold the stock.
The current price level is 2.01%, 5.63%, and 1.96% away from its SMA20, SMA50, and SMA200 respectively, with the CIG price moving below the 50-day SMA on January 23. Companhia Energetica de Minas Gerais (CIG) stock is down -3.62% over the week and 5.92% over the past month. Its price is 4.93% year-to-date and 21.94% over the past year.
The stock last released its quarterly earnings report for quarter ended 6/29/2021, with the company’s earnings per share (EPS) of $0.22 above consensus estimates by $0.21. The company’s next earnings report is expected on 05/17/2023. In addition, estimates put the company’s current quarterly revenue at an average of $203.59 million.
Its 12-month price target is $2.14. To reach the target analysts have set, the stock logically needs to grow 12.7 percent from here. Of course, the average price target is just what the average analysts believe a stock will be worth in the next 52 weeks, and is only one metric. There are analysts with lower targets than the average, including one bearish Wall Street research firm advocating investors to wait for the price to pull back to $2.14, given the recent momentum. And then, on the bullish side of things, one analyst is expecting the stock to peak at $2.14.
Outstanding shares total 2.20B with insiders holding 0.00% of the shares and institutional holders owning 21.35% of the company’s common stock. The company has a return on investment of 18.60% and return on equity of 17.90%. The price to earnings ratio (P/E ratio) amounts to 6.66 while the forward price to earnings ratio is 35.50. The beta has a value of 0.69. Price to book ratio is 1.15 and price to sales ratio is 0.83.
According to a U.S. Securities and Exchange Commission filing, GS Funds – Emerging Markets CORE has reduced its position in Companhia Energetica de Minas Gerais (CIG) to 9,839,647 shares, mirroring a recent drop by -13.27%. GS Funds – Emerging Markets CORE dumped -1.51 million shares of Companhia Energetica de Minas Gerais common stock bringing its total worth to about $19.97 million at the end of recent close, SEC documents show. Goldman Sachs Emerging Markets Eq cut their holdings by -7.72% in the company over the course of the most recent quarter. It now holds a 0.46% position in Companhia Energetica de Minas Gerais thanks to 6.77 million shares amounting to $13.74 million.
