Centrais El�tricas Brasileiras (NYSE:EBR) Upgraded by Scotiabank to "Strong-Buy" Rating

Key Points

• Scotiabank has upgraded Centrais Elétricas Brasileiras (NYSE:EBR) to a "strong-buy" rating, indicating positive expectations for the company's future performance.
• Despite the upgrade, Wall Street Zen downgraded the stock from a "buy" rating to a "hold" just a day prior, suggesting mixed analyst opinions on its valuation.
• The stock opened at $6.81 with a market cap of $15.33 billion, though it reported a quarterly loss of ($0.01) earnings per share, missing estimates significantly.

Scotiabank upgraded shares of Centrais El�tricas Brasileiras (NYSE:EBR - Free Report) to a strong-buy rating in a research report sent to investors on Thursday,Zacks.com reports.

Separately, Wall Street Zen cut shares of Centrais El�tricas Brasileiras from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd.

Centrais El�tricas Brasileiras Price Performance

Centrais El�tricas Brasileiras stock traded up $0.30 during midday trading on Thursday, hitting $7.16. The company's stock had a trading volume of 1,752,228 shares, compared to its average volume of 1,314,475. Centrais El�tricas Brasileiras has a 12 month low of $5.45 and a 12 month high of $7.83. The company has a quick ratio of 2.27, a current ratio of 2.29 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $16.10 billion, a PE ratio of 9.41, a price-to-earnings-growth ratio of 8.49 and a beta of 0.56. The stock's 50-day moving average price is $7.22 and its 200-day moving average price is $7.03.

Centrais El�tricas Brasileiras (NYSE:EBR - Get Free Report) last issued its earnings results on Thursday, May 15th. The utilities provider reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.16 by ($0.17). Centrais El�tricas Brasileiras had a return on equity of 8.14% and a net margin of 23.69%. The business had revenue of $1.64 billion during the quarter, compared to analyst estimates of $10.28 billion. Analysts anticipate that Centrais El�tricas Brasileiras will post 0.32 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Centrais El�tricas Brasileiras

Hedge funds have recently added to or reduced their stakes in the stock. Point72 Asia Singapore Pte. Ltd. grew its holdings in shares of Centrais El�tricas Brasileiras by 51.8% in the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,478 shares of the utilities provider's stock valued at $26,000 after buying an additional 1,528 shares during the period. Wealthquest Corp bought a new stake in shares of Centrais El�tricas Brasileiras in the first quarter worth about $33,000. GAMMA Investing LLC raised its position in shares of Centrais El�tricas Brasileiras by 184.3% during the first quarter. GAMMA Investing LLC now owns 4,595 shares of the utilities provider's stock worth $33,000 after purchasing an additional 2,979 shares during the period. Tower Research Capital LLC TRC lifted its holdings in shares of Centrais El�tricas Brasileiras by 124.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 6,988 shares of the utilities provider's stock valued at $40,000 after purchasing an additional 3,870 shares in the last quarter. Finally, Barclays PLC grew its position in shares of Centrais El�tricas Brasileiras by 301.9% in the 4th quarter. Barclays PLC now owns 10,047 shares of the utilities provider's stock valued at $57,000 after purchasing an additional 7,547 shares during the period. Institutional investors and hedge funds own 2.64% of the company's stock.

About Centrais El�tricas Brasileiras

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.