CEMIG (CIG) to Release Quarterly Earnings on Tuesday

CEMIG (NYSE:CIG - Get Free Report) is expected to release its earnings data before the market opens on Tuesday, May 13th. Analysts expect CEMIG to post earnings of $0.05 per share and revenue of $1.57 billion for the quarter.

CEMIG Stock Up 1.2%

CIG stock traded up $0.02 during trading on Tuesday, hitting $1.80. 3,084,706 shares of the company's stock traded hands, compared to its average volume of 2,350,277. The firm has a market capitalization of $5.16 billion, a P/E ratio of 3.37 and a beta of 1.11. The business has a fifty day simple moving average of $1.81 and a two-hundred day simple moving average of $1.86. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.35. CEMIG has a 1 year low of $1.59 and a 1 year high of $2.19.

CEMIG Cuts Dividend

The company also recently declared a dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 31st were issued a $0.033 dividend. The ex-dividend date was Monday, March 31st. CEMIG's dividend payout ratio is currently 37.04%.

Analyst Upgrades and Downgrades

Separately, Bank of America lowered shares of CEMIG from a "neutral" rating to an "underperform" rating in a research report on Tuesday, April 1st.

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.