Centrais Elétricas Brasileiras S.A. - Eletrobrás (NYSE:EBR) Downgraded by Wall Street Zen to "Hold"

Centrais Elétricas Brasileiras S.A. - Eletrobrás (NYSE:EBR - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued on Thursday.

Centrais Elétricas Brasileiras S.A. - Eletrobrás Stock Up 1.7%

Centrais Elétricas Brasileiras S.A. - Eletrobrás stock traded up $0.13 during midday trading on Thursday, reaching $7.41. The company's stock had a trading volume of 775,929 shares, compared to its average volume of 1,316,561. The company has a market cap of $16.63 billion, a P/E ratio of 9.74, a P/E/G ratio of 4.35 and a beta of 0.75. The company has a quick ratio of 2.04, a current ratio of 2.06 and a debt-to-equity ratio of 0.47. The business has a 50-day simple moving average of $7.33 and a 200-day simple moving average of $6.54. Centrais Elétricas Brasileiras S.A. - Eletrobrás has a fifty-two week low of $5.45 and a fifty-two week high of $7.83.

Centrais Elétricas Brasileiras S.A. - Eletrobrás (NYSE:EBR - Get Free Report) last issued its earnings results on Thursday, May 15th. The utilities provider reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.17). The business had revenue of $1.64 billion for the quarter, compared to analyst estimates of $10.28 billion. Centrais Elétricas Brasileiras S.A. - Eletrobrás had a return on equity of 9.00% and a net margin of 26.50%. On average, research analysts expect that Centrais Elétricas Brasileiras S.A. - Eletrobrás will post 0.32 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of EBR. Millennium Management LLC raised its stake in Centrais Elétricas Brasileiras S.A. - Eletrobrás by 336.5% during the 4th quarter. Millennium Management LLC now owns 4,196,607 shares of the utilities provider's stock worth $24,005,000 after acquiring an additional 3,235,114 shares in the last quarter. American Century Companies Inc. increased its position in shares of Centrais Elétricas Brasileiras S.A. - Eletrobrás by 18.6% during the first quarter. American Century Companies Inc. now owns 683,401 shares of the utilities provider's stock worth $4,852,000 after purchasing an additional 107,297 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Centrais Elétricas Brasileiras S.A. - Eletrobrás by 92.0% during the first quarter. Goldman Sachs Group Inc. now owns 658,681 shares of the utilities provider's stock worth $4,677,000 after purchasing an additional 315,607 shares in the last quarter. Kapitalo Investimentos Ltda lifted its holdings in shares of Centrais Elétricas Brasileiras S.A. - Eletrobrás by 3,872.3% in the 1st quarter. Kapitalo Investimentos Ltda now owns 588,811 shares of the utilities provider's stock valued at $4,181,000 after purchasing an additional 573,988 shares during the last quarter. Finally, Cubist Systematic Strategies LLC boosted its position in shares of Centrais Elétricas Brasileiras S.A. - Eletrobrás by 105.3% in the 1st quarter. Cubist Systematic Strategies LLC now owns 563,836 shares of the utilities provider's stock valued at $4,003,000 after purchasing an additional 289,184 shares during the period. Institutional investors and hedge funds own 2.64% of the company's stock.

About Centrais Elétricas Brasileiras S.A. - Eletrobrás

Centrais Elétricas Brasileiras SA - Eletrobrás, through its subsidiaries, engages in the generation, transmission, and commercialization of electricity in Brazil. The company generates electricity through hydroelectric, thermoelectric, nuclear, wind, and solar plants. As of December 31, 2023, it owned and operated 44 hydroelectric plants with a total capacity of 42,293.5 megawatt (MW); 5 thermal plants, including coal and gas power generation units with a total installed capacity of 1,632 MW; and two nuclear power plants comprising Angra 1 with an installed capacity of 657 MW and Angra 2 with an installed capacity of 1350 MW.

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