Companhia Energetica de Minas Gerais (NYSE: CIG) is -23.18% lower on its value in year-to-date trading and has touched a low of $1.20 and a high of $2.98 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The CIG stock was last observed hovering at around $2.27 in the last trading session, with the day’s loss setting it -0.1% off its average median price target of $3.10 for the next 12 months. It is also 30.0% off the consensus price target high of $3.10 offered by 8 analysts, but current levels are 30.0% higher than the price target low of $3.10 for the same period.
Currently trading at $2.17, the stock is 1.59% and -6.52% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 11.95 million and changing -4.41% at the moment leaves the stock -1.77% off its SMA200. CIG registered 48.78% gain for a year compared to 6-month gain of 20.50%. The firm has a 50-day simple moving average (SMA 50) of $2.1706 and a 200-day simple moving average (SMA200) of $2.3173.
The stock witnessed a 5.85% loss in the last 1 month and extending the period to 3 months gives it a -22.65%, and is 0.93% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 3.80% over the week and 4.23% over the month.
Companhia Energetica de Minas Gerais (CIG) has around 5254 employees, a market worth around $3.67B and $4.48B in sales. Current P/E ratio is 6.48 and Fwd P/E is 4.34. Profit margin for the company is 11.40%. Distance from 52-week low is 81.32% and -27.18% from its 52-week high. The company has generated returns on investments over the last 12 months (11.50%).
Companhia Energetica de Minas Gerais (CIG) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for Companhia Energetica de Minas Gerais (CIG) is a “Overweight”. 8 analysts offering their recommendations for the stock have an average rating of 2.30, where 2 rate it as a Hold and 0 think it is a “Overweight”. 6 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.
Companhia Energetica de Minas Gerais is expected to release its quarterly report on 08/13/2021 and quarterly earnings per share for the current quarter are estimated at $0.02 with sales reaching $193.4M over the same period.The EPS is expected to shrink by -3.60% this year, but quarterly earnings will post -36.00% year-over-year.
Companhia Energetica de Minas Gerais (CIG) Top Institutional Holders
166 institutions hold shares in Companhia Energetica de Minas Gerais (CIG), with institutional investors hold 23.59% of the company’s shares. The shares outstanding are 1.52B, and float is at 1.17B with Short Float at 1.14%. Institutions hold 23.59% of the Float.
The top institutional shareholder in the company is Blackrock Inc. with over 102.96 million shares valued at $296.52 million. The investor’s holdings represent 10.18% of the CIG Shares outstanding. As of Dec 30, 2020, the second largest holder is Polunin Capital Partners Ltd with 11.4 million shares valued at $32.84 million to account for 1.13% of the shares outstanding. The other top investors are Vanguard Group, Inc. (The) which holds 5.67 million shares representing 0.56% and valued at over $16.32 million, while TSP Capital Management Group, LLC holds 0.42% of the shares totaling 4.25 million with a market value of $12.24 million.
Companhia Energetica de Minas Gerais (CIG): Who are the competitors?
The company’s main competitors (and peers) include FirstEnergy Corp. (FE) that is trading -11.71% down over the past 12 months and Companhia Paranaense de Energia – COPEL (ELP) that is 18.82% higher over the same period. Short interest in the company’s stock has risen 33.68% from the last report on Feb 11, 2021 to stand at a total of 8.88 million short shares sold with a short interest ratio of 1.69.