CEMIG (CIG) Downgraded by UBS Group

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UBS Group cut shares of CEMIG (NYSE:CIG) from a buy rating to a neutral rating in a report issued on Wednesday, October 17th, 99wallstreet.com reports.

Separately, ValuEngine upgraded shares of CEMIG from a sell rating to a hold rating in a report on Wednesday, June 27th.

NYSE CIG traded up $0.02 during trading hours on Wednesday, reaching $2.97. The company’s stock had a trading volume of 4,475,929 shares, compared to its average volume of 8,606,646. The firm has a market cap of $3.86 billion, a PE ratio of 11.42 and a beta of 0.38. CEMIG has a 52 week low of $1.56 and a 52 week high of $3.29. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.89 and a quick ratio of 0.88.

CEMIG (NYSE:CIG) last issued its quarterly earnings data on Tuesday, September 11th. The utilities provider reported ($0.01) earnings per share (EPS) for the quarter. The business had revenue of $1.54 billion during the quarter. CEMIG had a net margin of 4.26% and a return on equity of 6.47%.

CEMIG Company Profile

Companhia Energ├ętica 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.

Read More: Why does a company issue an IPO?

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