StockNews.com Downgrades Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBR) to Hold

Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBR) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Thursday.

Centrais Elétricas Brasileiras S.A. – Eletrobrás Stock Performance

Centrais Elétricas Brasileiras S.A. – Eletrobrás stock opened at $6.32 on Thursday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.57 and a quick ratio of 1.56. Centrais Elétricas Brasileiras S.A. – Eletrobrás has a fifty-two week low of $6.21 and a fifty-two week high of $9.11. The stock has a fifty day moving average of $7.06 and a two-hundred day moving average of $7.98.

Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBR) last posted its quarterly earnings data on Thursday, May 9th. The utilities provider reported $0.03 EPS for the quarter. The firm had revenue of $1.76 billion during the quarter. Centrais Elétricas Brasileiras S.A. – Eletrobrás had a return on equity of 4.18% and a net margin of 12.98%. As a group, analysts forecast that Centrais Elétricas Brasileiras S.A. – Eletrobrás will post 0.49 earnings per share for the current fiscal year.

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

Several large investors have recently added to or reduced their stakes in the business. Sivia Capital Partners LLC purchased a new position in Centrais Elétricas Brasileiras S.A. – Eletrobrás during the fourth quarter worth approximately $98,000. Citigroup Inc. boosted its holdings in Centrais Elétricas Brasileiras S.A. – Eletrobrás by 81.4% in the third quarter. Citigroup Inc. now owns 13,672 shares of the utilities provider’s stock valued at $100,000 after acquiring an additional 6,135 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in Centrais Elétricas Brasileiras S.A. – Eletrobrás by 115.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 12,529 shares of the utilities provider’s stock valued at $108,000 after acquiring an additional 6,704 shares during the last quarter. First Affirmative Financial Network raised its holdings in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás by 17.0% in the 4th quarter. First Affirmative Financial Network now owns 13,642 shares of the utilities provider’s stock worth $118,000 after purchasing an additional 1,978 shares during the period. Finally, Barometer Capital Management Inc. purchased a new position in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás in the 4th quarter worth about $119,000. 6.54% of the stock is currently owned by hedge funds and other institutional investors.

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.