CEMIG Reports Mixed Financial Results for 4Q24
CEMIG (CIG) reported mixed financial results for Q4 2024, with a consolidated EBITDA of R$1,914 million, down 21.9% year-over-year, and a net profit of R$998 million, a 47.1% decline. While Cemig GT faced significant drops in performance, Cemig D showed positive growth. Net revenue rose by 12.3% to R$11,177 million, but total costs increased by 18.4%, leading to an 8.9% fall in gross profit. Analysts rate CIG stock as a Sell with a $2.10 target, though TipRanks’ AI Analyst rates it as Outperform due to strong financials and attractive valuation.
Confident Investing Starts Here:
- Quickly and easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks straight to you inbox with TipRanks' Smart Value Newsletter
Companhia Energetica Minas Gerais ( (CIG) ) has provided an announcement.
CEMIG’s recent financial disclosures reveal a mixed performance for the fourth quarter of 2024. The company reported a consolidated EBITDA of R$1,914 million, a decrease of 21.9% from the previous year, and a net profit of R$998 million, down 47.1%. The decline in Cemig GT’s performance was notable, with a 55.1% drop in EBITDA and a 71.4% fall in net profit. Despite this, Cemig D showed a positive trend with a 19.2% increase in EBITDA and a 13% rise in net profit. The company’s net revenue increased by 12.3% to R$11,177 million, but total costs also rose by 18.4%, impacting gross profit, which fell by 8.9%. These results reflect challenges in operational costs and sector performance, affecting CEMIG’s market positioning.
The most recent analyst rating on (CIG) stock is a Sell with a $2.10 price target. To see the full list of analyst forecasts on Companhia Energetica Minas Gerais stock, see the CIG Stock Forecast page.
Spark’s Take on CIG Stock
According to Spark, TipRanks’ AI Analyst, CIG is a Outperform.
Companhia Energetica Minas Gerais scores 82, driven by strong financial performance, attractive valuation, and positive technical indicators. The company’s robust profitability and strategic investment plans are tempered by challenges in their trading company and submarket pricing issues. Overall, the stock’s high dividend yield and low P/E ratio offer attractive value, making it appealing for investors seeking both income and potential growth.
To see Spark’s full report on CIG stock, click here.
More about Companhia Energetica Minas Gerais
Companhia Energética de Minas Gerais (CEMIG) is a Brazilian energy company primarily engaged in the generation, transmission, and distribution of electricity. It operates in the energy sector, serving a significant portion of the Brazilian market, and is known for its extensive electricity network and diverse energy solutions.
Average Trading Volume: 3,722,723
Technical Sentiment Signal: Strong Buy
Current Market Cap: $5.86B
See more insights into CIG stock on TipRanks’ Stock Analysis page.
Trending Articles:
- ‘This Is a Big Surprise,’ Says Needham on Foot Locker Stock Acquisition
- Morgan Stanley Weighs In on Tesla Stock After Comeback Rally
- ‘Hold Your Horses,’ Says Gil Luria About Nvidia Stock
Disclaimer & DisclosureReport an Issue
