Comp En De Mn Cemig ADS (NYSE:CIG) Posts Earnings Results

Comp En De Mn Cemig ADS (NYSE:CIG) announced its earnings results on Friday. The utilities provider reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.02, Zacks reports. Comp En De Mn Cemig ADS had a net margin of 10.44% and a return on equity of 16.89%.

Here are the key takeaways from Comp En De Mn Cemig ADS’s conference call:

• Recurring EBITDA rose 31% year over year to about BRL 2 billion. Reported quarterly EBITDA was BRL 2.7 billion and net income BRL 1.7 billion, with net income benefiting from a BRL 1.1 billion reversal of tax provisions after a favorable court ruling.
• CEMIG reported a triple-A rating, 2.43x leverage and BRL 5.4 billion in cash at quarter-end; management said its debt maturity profile and funding access support its investment plans.
• The company plans close to BRL 7 billion of investment in 2026, with roughly 75% already invested, including BRL 4.1 billion in distribution. Management linked investment and operating improvements to better service metrics, with distribution spending also aimed at the 2028 tariff review.
• Results across businesses were mixed: trading swung to BRL 18 million positive EBITDA from a BRL 37 million loss, while lower inflation weighed on generation and transmission results and customer migration to the free market pressured Gasmig margins.
• CEMIG renewed the Sá Carvalho concession for another 30 years and said it is optimistic about renewals for Nova Ponte and Emborcação, though those decisions remain pending.

Comp En De Mn Cemig ADS Price Performance

Shares of Comp En De Mn Cemig ADS stock traded up $0.07 on Friday, reaching $1.92. 2,649,922 shares of the stock were exchanged, compared to its average volume of 5,822,839. The firm’s 50 day moving average is $2.12 and its 200-day moving average is $2.20. Comp En De Mn Cemig ADS has a one year low of $1.77 and a one year high of $2.76. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.93 and a current ratio of 0.93. The firm has a market cap of $5.48 billion, a PE ratio of 10.08 and a beta of 0.86.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on CIG shares. Zacks Research initiated coverage on shares of Comp En De Mn Cemig ADS in a research report on Monday, November 2nd. They issued a “hold” rating for the company. Wall Street Zen raised Comp En De Mn Cemig ADS to a “hold” rating in a research report on Saturday, October 17th. Finally, Weiss Ratings lowered Comp En De Mn Cemig ADS from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, October 26th. Two analysts have rated the stock with a Hold rating. According to data from MarketBeat.com, the stock presently has an average rating of “Hold”.

About Comp En De Mn Cemig ADS

Companhia Energética de Minas Gerais S.A. (CEMIG) is a Brazilian electric utility headquartered in Belo Horizonte, in the state of Minas Gerais. Founded in 1952, the company is controlled by the state government of Minas Gerais. CEMIG generates, transmits and distributes electricity, with a power portfolio that includes hydroelectric and renewable energy facilities. It also participates in electricity trading and provides natural gas distribution services in Minas Gerais through its business interests in Gasmig.