Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp (NYSE:SBS) Hits New 12-Month High - What's Next?

Key Points

• Companhia de Saneamento Basico do Estado de São Paulo - Sabesp achieved a new 52-week high, reaching $22.42 per share, a significant increase from its previous close of $20.31.
• The company had a net margin of 28.70% and reported $0.37 earnings per share for the last quarter, missing analysts' expectations of $0.38.
• Wall Street analysts have downgraded Sabesp from a "buy" to a "hold" rating, which may impact investor sentiment moving forward.

Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp (NYSE:SBS - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $22.33 and last traded at $22.42, with a volume of 278702 shares. The stock had previously closed at $20.31.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen cut Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp from a "buy" rating to a "hold" rating in a report on Tuesday, May 20th.

Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp Trading Up 11.8%

The stock has a fifty day moving average of $20.43 and a 200 day moving average of $19.00. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.89 and a current ratio of 0.89. The company has a market capitalization of $15.52 billion, a PE ratio of 8.48 and a beta of 0.70.

Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp (NYSE:SBS - Get Free Report) last posted its earnings results on Monday, May 12th. The utilities provider reported $0.37 earnings per share for the quarter, missing analysts' consensus estimates of $0.38 by ($0.01). Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp had a net margin of 28.70% and a return on equity of 29.18%. The business had revenue of $1.04 billion during the quarter, compared to analysts' expectations of $7.67 billion. As a group, sell-side analysts predict that Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp will post 2.17 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp

Several large investors have recently bought and sold shares of the business. Legal & General Group Plc increased its position in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 10.6% in the second quarter. Legal & General Group Plc now owns 1,164,123 shares of the utilities provider's stock worth $25,579,000 after purchasing an additional 111,740 shares during the last quarter. MAI Capital Management increased its position in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 32.0% during the 2nd quarter. MAI Capital Management now owns 6,344 shares of the utilities provider's stock valued at $139,000 after purchasing an additional 1,538 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 17.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 60,488 shares of the utilities provider's stock valued at $1,329,000 after purchasing an additional 9,169 shares during the last quarter. Raiffeisen Bank International AG increased its position in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 9.1% during the 2nd quarter. Raiffeisen Bank International AG now owns 24,050 shares of the utilities provider's stock valued at $491,000 after purchasing an additional 2,015 shares during the last quarter. Finally, Integrated Quantitative Investments LLC increased its position in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 47.4% during the 2nd quarter. Integrated Quantitative Investments LLC now owns 75,168 shares of the utilities provider's stock valued at $1,651,000 after purchasing an additional 24,168 shares during the last quarter. Institutional investors own 10.62% of the company's stock.

Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp Company Profile

Companhia de Saneamento Basico do Estado de Sao Paulo SABESP engages in the provision of water and sewage service. It also offers advisory services on the rational use of water, planning and commercial, and financial and operational management. The company was founded on September 6, 1973 and is headquartered in São Paulo, Brazil.

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