Home  »  Companies   »  Companhia Energetica de Minas Gerais’s (NYSE...

Companhia Energetica de Minas Gerais’s (NYSE:CIG) Stock Is Down -0.43%, But Is It Capable Of A Rally?

Companhia Energetica de Minas Gerais (NYSE:CIG) traded at $2.31 at close of the session on Tuesday, 09/20/22, made a downward move of -0.43% on its previous day’s price.

Looking at the stock we see that its previous close was $2.32 and the beta (5Y monthly) reads 0.57 with the day’s price range being $2.275 – $2.32. The company has a trailing 12-month PE ratio of 8.85. In terms of its 52-week price range, CIG has a high of $2.62 and a low of $1.64. The company’s stock has lost about -7.97% over that past 30 days.

China Can't Stop US$0.25 Stock from Mining Ultra-Rare Metal

Here's one little-known company — trading undiscovered below 25-cents per share — that's advancing one of the largest and highest quality REE deposits in all of North America... and the Chinese can't do a damn thing about it! It's early stage... and that's excellent news for individual investors like you who have the foresight to act decisively on an emerging megatrend that's already being measured in the Tens of $Billions.

Simply click here and the name & trading symbol are yours.

Sponsored

Companhia Energetica de Minas Gerais has a market cap of $5.95 billion. With its Forward Dividend at 0.28 and a yield of 12.16%, the company’s investors could be anxious for the CIG stock to gain ahead of the earnings release.

Analysts tracking the company’s growth have also given it a consensus growth in revenue estimated at $203.59 million, with a low of $203.59 million and a high of $203.59 million. According to analyst consensus estimates figures, the company’s yearly revenue forecast for 2021 is expected to hit $6.23 billion, or 27.40% up from figures reported last year.

There have been no upward and no downward revisions for the stock’s EPS in last 7 days, something that reflects the nature of company’s price movement in short term. On the other hand, looking at the outlook for the CIG stock, short term indicators assign the stock an average of 50% Buy, while medium term indicators assign it an average of 100% Buy. Long term indicators on average place the stock in the category of 100% Buy.

Based on estimates by 9 analysts, where scores have ranged from 1.00 for a strong buy to 5.00 for a strong sell, 6 have rated the Companhia Energetica de Minas Gerais (CIG) stock as a Hold, while 2 rate it as a Buy. 0 analyst(s) rate it as overweight while 0 of them rated it as underweight, whereas 1 suggest the stock as a Sell. The stock has an overall rating of Hold and investors could take advantage and scoop up stock of the company.

Looking further, we note the current price level is -3.33% off its SMA20 and 1.41% from its 50-day simple moving average. The RSI (14) is pointing at 47.23 while the volatility over the past week is 3.35% and jumps to 2.98% over the past one month. The beta value is 0.61, while the average true range (ATR) is currently pointing at 0.08. The average price target for the stock over the next 12 months is $2.14, with the estimates having a low of $2.14 and a high of $2.14. These price ends are 7.36% and 7.36% off the current price level respectively, although investors could be excited at the prospect of a 7.36% if the CIG share price touches on the median price of $2.14.

Let’s briefly compare Companhia Energetica de Minas Gerais (CIG) stock to its peers. We find that current price change of -0.43% and 21.89% over the past 12 months for CIG competes that of FirstEnergy Corp. (FE), which has seen its stock price fall -1.15% in the last trading session and was 13.31% over the last one year. Another of its peers Companhia Paranaense de Energia – COPEL (ELP) has dropped -0.63% previous session, and was 3.55% up over the past year. Companhia Energetica de Minas Gerais has a P/E ratio of 8.85 compared to FirstEnergy Corp.’s 17.41 and Companhia Paranaense de Energia – COPEL’s 40.64. In contrast to these companies, both the S&P 500 Index and the Dow Jones Industrial were at -1.13% and -1.01%, respectively, at close of the trading.

Coming back to Companhia Energetica de Minas Gerais (NYSE:CIG), we note that the average 3-month trading volume was 4.30 million, while that of the preceding 10-day period stands at 4.89 million. Current shares outstanding are 2.20 billion.

The insiders hold 1.00% of the company’s shares while institutions hold 21.50%. The data shows that short shares as of Jul 14, 2022, stood at 12.91 million at a short ratio of 2.35. This represents a 0.59% short interest in shares outstanding on Jul 14, 2022. Shares short rose in July from the previous month at 9.45 million. Investors should be excited about this stock as its upside potential is great, with current price pushing the stock 23.58% up in year-to-date price movement.

Leave a Comment

Your email address will not be published.

[class^="wpforms-"]
[class^="wpforms-"]
[class^="wpforms-"]
[class^="wpforms-"]
[class^="wpforms-"]
[class^="wpforms-"]
[class^="wpforms-"]
[class^="wpforms-"]