Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBR) Stock Rating Lowered by StockNews.com

Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBR) was downgraded by investment analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued on Tuesday.

Centrais Elétricas Brasileiras S.A. – Eletrobrás Stock Down 0.6%

Centrais Elétricas Brasileiras S.A. – Eletrobrás stock opened at $7.66 on Tuesday. The company has a market capitalization of $17.20 billion, a P/E ratio of 9.34, a P/E/G ratio of 4.35 and a beta of 0.75. The firm’s fifty day simple moving average is $7.28 and its 200-day simple moving average is $6.51. The company has a current ratio of 2.06, a quick ratio of 2.04 and a debt-to-equity ratio of 0.47. Centrais Elétricas Brasileiras S.A. – Eletrobrás has a 1-year low of $5.45 and a 1-year high of $7.83.

Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBR) last issued its quarterly earnings data on Friday, March 14th. The utilities provider reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.08). The company had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $10.17 billion. Centrais Elétricas Brasileiras S.A. – Eletrobrás had a net margin of 26.50% and a return on equity of 9.00%. Sell-side analysts forecast that Centrais Elétricas Brasileiras S.A. – Eletrobrás will post 0.32 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Centrais Elétricas Brasileiras S.A. – Eletrobrás

A number of hedge funds have recently modified their holdings of the stock. Point72 Asia Singapore Pte. Ltd. increased its position in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás by 51.8% during the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,478 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 1,528 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás by 184.3% during the 1st 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 in the last quarter. Mariner LLC increased its position in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás by 11.5% during the 4th quarter. Mariner LLC now owns 29,316 shares of the utilities provider’s stock worth $168,000 after purchasing an additional 3,031 shares in the last quarter. Stifel Financial Corp increased its position in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás by 10.1% during the 4th quarter. Stifel Financial Corp now owns 37,941 shares of the utilities provider’s stock worth $217,000 after purchasing an additional 3,480 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its position in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás by 124.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 6,988 shares of the utilities provider’s stock worth $40,000 after purchasing an additional 3,870 shares in the last quarter. 2.64% of the stock is owned by institutional investors and hedge funds.

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.