CEMIG (NYSE:CIG) Coverage Initiated at Scotiabank

Stock analysts at Scotiabank initiated coverage on shares of CEMIG (NYSE:CIG) in a note issued to investors on Thursday, Marketbeat.com reports. The brokerage set a “sector perform” rating on the utilities provider’s stock.

CEMIG Stock Performance

Shares of CIG opened at $1.90 on Thursday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.96 and a current ratio of 0.96. The company has a market capitalization of $5.44 billion, a price-to-earnings ratio of 4.55 and a beta of 1.29. The company’s 50 day simple moving average is $2.02 and its 200 day simple moving average is $1.96. CEMIG has a 1 year low of $1.62 and a 1 year high of $2.19.

CEMIG (NYSE:CIG) last posted its quarterly earnings results on Tuesday, August 13th. The utilities provider reported $0.07 earnings per share for the quarter. The company had revenue of $1.81 billion for the quarter. CEMIG had a net margin of 15.70% and a return on equity of 21.49%. On average, sell-side analysts predict that CEMIG will post 0.36 EPS for the current year.

CEMIG Company Profile

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.