CEMIG (CIG) Upgraded to Hold by ValuEngine

CEMIG (NYSE:CIG) was upgraded by equities researchers at ValuEngine from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Friday.

Separately, UBS Group raised shares of CEMIG from a “hold” rating to a “buy” rating in a report on Tuesday, October 9th.

CIG stock traded up $0.05 during mid-day trading on Friday, hitting $2.80. The stock had a trading volume of 11,602,300 shares, compared to its average volume of 4,186,181. 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 has a 52 week low of $1.56 and a 52 week high of $2.87. The firm has a market cap of $3.57 billion, a P/E ratio of 10.77 and a beta of 1.67.

CEMIG (NYSE:CIG) last released its earnings results on Tuesday, September 11th. The utilities provider reported ($0.01) EPS for the quarter. The firm had revenue of $1.54 billion during the quarter. CEMIG had a net margin of 4.26% and a return on equity of 6.47%. Equities analysts predict that CEMIG will post 0.35 EPS for the current year.

About CEMIG

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: Price to Earnings Ratio (PE), For Valuing Stocks

To view ValuEngine’s full report, visit ValuEngine’s official website.

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