Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp (NYSE:SBS) Downgraded to "Hold" Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded SABESP from “Buy” to “Hold,” while Zacks Research also moved the stock from “Strong Buy” to “Hold.” Despite the downgrades, analysts maintain a consensus “Moderate Buy” rating with a $183 price target.
• SABESP reported quarterly EPS of $0.02, missing the $0.08 consensus estimate, while revenue of $1.16 billion came in below expectations of $1.28 billion. Analysts project full-year EPS of $0.34.
• Institutional interest increased, with several hedge funds adding shares; hedge funds and other institutional investors now own 10.62% of SABESP.

Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp (NYSE:SBS - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued to investors on Saturday.

A number of other research firms also recently issued reports on SBS. Zacks Research downgraded shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp from a "strong-buy" rating to a "hold" rating in a research report on Tuesday. Weiss Ratings downgraded Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp from a "buy (a-)" rating to a "buy (b)" rating in a research note on Monday, May 11th. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $183.00.

Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp Stock Performance

Shares of SBS opened at $5.46 on Friday. The company has a 50-day simple moving average of $5.61 and a 200-day simple moving average of $83.41. The company has a quick ratio of 1.73, a current ratio of 1.74 and a debt-to-equity ratio of 1.07. The company has a market capitalization of $19.23 billion, a PE ratio of 14.25, a P/E/G ratio of 4.66 and a beta of 0.66. Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp has a 52-week low of $3.79 and a 52-week high of $7.16.

Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp (NYSE:SBS - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The utilities provider reported $0.02 EPS for the quarter, missing analysts' consensus estimates of $0.08 by ($0.06). Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp had a return on equity of 16.38% and a net margin of 24.25%.The company had revenue of $1.16 billion for the quarter, compared to analysts' expectations of $1.28 billion. Equities research analysts predict that Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp will post 0.34 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp

Several hedge funds have recently added to or reduced their stakes in the business. Handelsbanken Fonder AB raised its position in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 502.2% during the second quarter. Handelsbanken Fonder AB now owns 1,149,745 shares of the utilities provider's stock worth $6,646,000 after acquiring an additional 958,808 shares during the last quarter. Paladin Wealth LLC acquired a new stake in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp in the second quarter valued at approximately $133,000. Hennion & Walsh Asset Management Inc. purchased a new position in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp during the 2nd quarter worth approximately $190,000. Gradient Investments LLC increased its stake in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 423.2% during the 2nd quarter. Gradient Investments LLC now owns 985,027 shares of the utilities provider's stock worth $5,693,000 after purchasing an additional 796,772 shares in the last quarter. Finally, Balefire LLC purchased a new position in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp during the 2nd quarter worth approximately $109,000. 10.62% of the stock is currently owned by hedge funds and other institutional investors.

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.

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