Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp (NYSE:SBS) Issues Earnings Results

Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp (NYSE:SBS) posted its quarterly earnings data on Wednesday. The utilities provider reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.02), Zacks reports. Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp had a net margin of 23.93% and a return on equity of 14.49%. The firm had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.23 billion.

Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp Price Performance

NYSE:SBS opened at $4.68 on Friday. The company has a current ratio of 1.74, a quick ratio of 1.73 and a debt-to-equity ratio of 1.07. The firm has a market cap of $16.49 billion, a price-to-earnings ratio of 13.14, a price-to-earnings-growth ratio of 4.34 and a beta of 0.68. The company’s 50-day moving average is $5.55 and its two-hundred day moving average is $75.90. Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp has a 12-month low of $4.18 and a 12-month high of $7.16.

Analysts Set New Price Targets

SBS has been the topic of a number of research reports. Zacks Research lowered Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 28th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp in a research note on Friday, August 7th. Finally, Wall Street Zen upgraded Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp from a “hold” rating to a “buy” rating in a report on Sunday, August 9th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp presently has a consensus rating of “Moderate Buy” and a consensus target price of $183.00.

Institutional Trading of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp

A number of hedge funds have recently added to or reduced their stakes in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp in the fourth quarter worth approximately $37,053,000. Bank of America Corp DE raised its stake in shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp by 54.9% in the 2nd quarter. Bank of America Corp DE now owns 3,152,070 shares of the utilities provider’s stock valued at $69,251,000 after acquiring an additional 1,116,681 shares during the period. Wellington Management Group LLP acquired a new position in shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp during the 3rd quarter valued at $27,444,000. Qube Research & Technologies Ltd lifted its stake in shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp by 296.9% during the third quarter. Qube Research & Technologies Ltd now owns 445,786 shares of the utilities provider’s stock worth $11,096,000 after purchasing an additional 333,463 shares in the last quarter. Finally, Millennium Management LLC purchased a new position in Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp in the 3rd quarter worth approximately $4,980,000. 10.62% of the stock is owned by institutional investors and hedge funds.

About Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp

Companhia de Saneamento Básico do Estado de São Paulo (SABESP) is a Brazilian utility that provides water supply and wastewater collection and treatment services. As the principal sanitation company serving the state of São Paulo, SABESP operates a wide range of infrastructure spanning water capture, treatment plants, distribution networks and sewage systems. The company’s activities support residential, commercial and industrial customers and are focused on delivering potable water, ensuring water quality and expanding access to sanitation services.

SABESP’s service offering includes the operation and maintenance of water treatment and sewage treatment facilities, network expansion and rehabilitation, meter reading and billing, customer service and environmental programs aimed at improving sewage treatment rates and protecting water resources.