Companhia Energetica de Minas Gerais (NYSE: CIG): Is It Possible To Be Up 6.17% YTD And Still Lose Money – Marketing Sentinel
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Companhia Energetica de Minas Gerais (NYSE: CIG): Is It Possible To Be Up 6.17% YTD And Still Lose Money

During the recent session, Companhia Energetica de Minas Gerais (NYSE:CIG)’s traded shares were 1.68 million, with the beta value of the company hitting 0.56. At the last check today, the stock’s price was $2.59, reflecting an intraday loss of -3.72% or -$0.1. The 52-week high for the CIG share is $2.74, that puts it down -5.79 from that peak though still a striking 39.77% gain since the share price plummeted to a 52-week low of $1.56. The company’s market capitalization is $4.99B, and the average intraday trading volume over the past 10 days was 4.37 million shares, and the average trade volume was 11.71 million shares over the past three months.

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Companhia Energetica de Minas Gerais (CIG) received a consensus recommendation of an Overweight from analysts. That translates to a mean rating of 2.30. CIG has a Sell rating from 0 analyst(s) out of 8 analysts who have looked at this stock. 2 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 6 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be $0.01.

Companhia Energetica de Minas Gerais (NYSE:CIG) trade information

Companhia Energetica de Minas Gerais (CIG) registered a -3.72% downside in the last session and has traded in the green over the past 5 sessions. The stock plummet -3.72% in intraday trading to $2.59 this Thursday, 06/10/21, hitting a weekly high. The stock’s 5-day price performance is 1.89%, and it has moved by 20.09% in 30 days. Based on these gigs, the overall price performance for the year is 35.35%. The short interest in Companhia Energetica de Minas Gerais (NYSE:CIG) is 2.97 million shares and it means that shorts have 0.47 day(s) to cover.

The consensus price target of analysts on Wall Street is $2.78, which implies an increase of 6.83% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $2.78 and $2.78 respectively. As a result, CIG is trading at a discount of -7.34% off the target high and -7.34% off the low.

Companhia Energetica de Minas Gerais (CIG) estimates and forecasts

In the rating firms’ projections, revenue will decrease -34.90% compared to the previous financial year.

Revenue for the current quarter is expected to be $212.45 million as predicted by 1 analyst(s). Meanwhile, a consensus of 1 analyst(s) estimates revenue growth to $226.4 million by the end of Sep 2021.

An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 1.50%. While earnings are projected to return -3.60% in 2021, the next five years will return 0.00% per annum.


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CIG Dividends

Companhia Energetica de Minas Gerais is due to release its next quarterly earnings in July. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance. Investors should also take the other fundamental and operational aspects into account before investing in the stock. The forward dividend ratio for Companhia Energetica de Minas Gerais is 0.21, with the dividend yield indicating at 7.81 percent, continuing the trend of increasing dividends in recent years. The average dividend yield of the company for the last 5 years is 4.98%.

Companhia Energetica de Minas Gerais (NYSE:CIG)’s Major holders

Companhia Energetica de Minas Gerais insiders own 0.00% of total outstanding shares while institutional holders control 23.18%, with the float percentage being 23.18%. Blackrock Inc. is the largest shareholder of the company, while 187 institutions own stock in it. As of Mar 30, 2021, the company held over 153.97 million shares (or 13.66% of all shares), a total value of $349.5 million in shares.

The next largest institutional holding, with 13.84 million shares, is of Polunin Capital Partners Ltd’s that is approximately 1.23% of outstanding shares. At the market price on Mar 30, 2021, these shares were valued at $31.42 million.

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Also, the Mutual Funds coming in first place with the largest holdings of Companhia Energetica de Minas Gerais (CIG) shares are iShares Global Clean Energy ETF and Vanguard International Stock Index-Total Intl Stock Indx. Data provided on Mar 30, 2021 indicates that iShares Global Clean Energy ETF owns about 73.14 million shares. This amounts to just over 6.49 percent of the company’s overall shares, with a $166.02 million market value. The same data shows that the other fund manager holds slightly less at 3.11 million, or about 0.28% of the stock, which is worth about $7.87 million.

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