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Why Companhia Energetica de Minas Gerais (NYSE: CIG) Is A Stock Not To Be Discarded In 2023

In today’s recent session, 0.74 million shares of the Companhia Energetica de Minas Gerais (NYSE:CIG) have been traded, and its beta is 0.79. Most recently the company’s share price was $2.39, and it changed around $0.02 or 0.84% from the last close, which brings the market valuation of the company to $6.25B. CIG at last check was trading at a discount to its 52-week high of $2.55, offering almost -6.69% off that amount. The share price’s 52-week low was $1.72, which indicates that the recent value has risen by an impressive 28.03% since then. We note from Companhia Energetica de Minas Gerais’s average daily trading volume that its 10-day average is 3.58 million shares, with the 3-month average coming to 3.80 million.

Companhia Energetica de Minas Gerais stock received a consensus recommendation rating of a Hold, based on a mean score of 3.00. If we narrow it down even further, the data shows that 0 out of 8 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 8 recommended CIG as a Hold, whereas 0 deemed it a Buy, and 0 rated it as Underweight. Companhia Energetica de Minas Gerais is expected to report earnings per share of $Chipotle Mexican Grill, Inc. for the current quarter.

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

Instantly CIG has been showing a green trend so far today with a performance of 0.84% on intraday trading today. The rise to weekly highs of 2.43 on Tuesday, 05/23/23 increased the stock’s daily price by 1.65%. We can see from the shorts that 1.8 million shares have been sold at a short interest cover period of 0.4 day(s).

The consensus price target as assigned by Wall Street analysts is $2.14, which translates to bulls needing to decrease their stock price by -11.68% from its current value. Analyst projections state that CIG is forecast to be at a low of $2.14 and a high of $2.14. In order for the stock price to hit the forecast high, the stock would need to surge 10.46% from its current level, while the stock would need to crash 10.46% from its current level to reach the projected low.

Companhia Energetica de Minas Gerais (CIG) estimates and forecasts

Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 22.90%.

CIG Dividends

Companhia Energetica de Minas Gerais’s next quarterly earnings report is expected to be released in June. The annual dividend yield of the stock is 19.31 percent and its annual dividend per share was 0.46. It is important to note, however, that the 19.31% dividend yield ratio should be regarded as a guide only, as many other factors should be taken into consideration before making any investment decision.

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

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