Companhia Energetica de MinasGerais Lowered to Sell at TheStreet (CIG)
Companhia Energetica de MinasGerais (NYSE:CIG) was downgraded by TheStreet from a “hold” rating to a “sell” rating in a research note issued on Sunday, StockRatingsNetwork reports.
The analysts wrote, “Energy Company of Minas Gerais (CIG) has been downgraded by TheStreet Ratings from hold to sell. The company’s weaknesses can be seen in multiple areas, such as its unimpressive growth in net income, poor profit margins, generally disappointing historical performance in the stock itself and feeble growth in its earnings per share.”
Separately, analysts at Zacks reiterated an “underperform” rating on shares of Companhia Energetica de MinasGerais in a research note to investors on Tuesday, September 3rd. They now have a $7.25 price target on the stock.
Shares of Companhia Energetica de MinasGerais (NYSE:CIG) opened at 9.02 on Friday. Companhia Energetica de MinasGerais has a one year low of $7.84 and a one year high of $12.5266. The stock’s 50-day moving average is $8.5 and its 200-day moving average is $9.82. The company has a market cap of $8.680 billion and a P/E ratio of 3.65.
Companhia Energetica de Minas Gerais (NYSE:CIG) is a Brazil-based electric utilities company.
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