CEMIG (NYSE:CIG) Coverage Initiated at Scotiabank

Stock analysts at Scotiabank began coverage on shares of CEMIG (NYSE:CIG) in a report issued on Thursday, Briefing.com reports. The firm set a “sector perform” rating on the utilities provider’s stock.

CEMIG Price Performance

CIG opened at $1.95 on Thursday. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.28. The business has a fifty day moving average of $2.03 and a 200 day moving average of $1.96. CEMIG has a 52-week low of $1.62 and a 52-week high of $2.19. The stock has a market cap of $5.58 billion, a P/E ratio of 4.64 and a beta of 1.29.

CEMIG (NYSE:CIG) last announced its quarterly earnings data on Tuesday, August 13th. The utilities provider reported $0.07 earnings per share for the quarter. The company had revenue of $1.81 billion during the quarter. CEMIG had a net margin of 15.70% and a return on equity of 21.49%. As a group, sell-side analysts anticipate that CEMIG will post 0.36 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.