Comp En De Mn Cemig ADS (NYSE:CIG) Announces Earnings Results, Beats Estimates By $0.03 EPS

Key Points

• Comp En De Mn Cemig ADS reported earnings of $0.08 per share, surpassing analysts' expectations by $0.03, and achieved a net margin of 17.46%.
• The company's revenue for the quarter was $1.83 billion, significantly lower than the consensus estimate of $9.19 billion.
• Institutional investors, including Arrowstreet Capital and BNP Paribas Financial Markets, have increased their holdings in Comp En De Mn Cemig ADS, indicating growing confidence in the company.

Comp En De Mn Cemig ADS (NYSE:CIG - Get Free Report) issued its earnings results on Thursday, August 14th. The utilities provider reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.03, Zacks reports. Comp En De Mn Cemig ADS had a net margin of 15.68% and a return on equity of 16.35%. The firm had revenue of $1.83 billion during the quarter, compared to analysts' expectations of $9.19 billion.

Comp En De Mn Cemig ADS Stock Performance

Shares of Comp En De Mn Cemig ADS stock traded down $0.0350 during trading on Thursday, hitting $1.9150. 2,050,775 shares of the company's stock were exchanged, compared to its average volume of 2,958,429. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.06 and a current ratio of 1.06. The business has a 50-day simple moving average of $1.91 and a 200-day simple moving average of $1.87. Comp En De Mn Cemig ADS has a 52-week low of $1.59 and a 52-week high of $2.19. The stock has a market capitalization of $5.48 billion, a price-to-earnings ratio of 4.16 and a beta of 1.03.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CIG. EverSource Wealth Advisors LLC increased its holdings in Comp En De Mn Cemig ADS by 224.2% in the second quarter. EverSource Wealth Advisors LLC now owns 23,648 shares of the utilities provider's stock valued at $46,000 after buying an additional 16,354 shares in the last quarter. Marshall Wace LLP purchased a new position in Comp En De Mn Cemig ADS in the second quarter valued at $62,000. Modern Wealth Management LLC purchased a new position in Comp En De Mn Cemig ADS in the second quarter valued at $92,000. Qube Research & Technologies Ltd purchased a new position in Comp En De Mn Cemig ADS in the second quarter valued at $130,000. Finally, The Manufacturers Life Insurance Company increased its holdings in Comp En De Mn Cemig ADS by 100.2% in the second quarter. The Manufacturers Life Insurance Company now owns 149,810 shares of the utilities provider's stock valued at $294,000 after buying an additional 74,987 shares in the last quarter.

Comp En De Mn Cemig ADS 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.