Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp (NYSE:SBS) Lowered to "Hold" Rating by Zacks Research

Key Points

• Zacks Research downgraded Companhia de Saneamento Básico do Estado de São Paulo (SABESP, NYSE:SBS) from a "strong‑buy" to a "hold" rating in a report released Monday.
• Other analysts remain more positive — Weiss Ratings upgraded to a higher "buy" tier and Jefferies initiated coverage with a "buy" rating and a $36.60 price target, leaving the consensus average rating as "Buy" with an average target of $36.60.
• SABESP trades around $33.81 with a market cap of about $23.8 billion, a P/E of 15.46, 52‑week range of $18.09–$34.28, and reported quarterly EPS of $0.71 with a net margin of 23.64%; analysts expect ~2.17 EPS for the current fiscal year.

Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp (NYSE:SBS - Get Free Report) was downgraded by equities research analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Several other research firms also recently issued reports on SBS. Weiss Ratings raised shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp from a "buy (b)" rating to a "buy (a-)" rating in a report on Tuesday, March 17th. Jefferies Financial Group assumed coverage on shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp in a report on Thursday, March 19th. They set a "buy" rating and a $36.60 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $36.60.

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

SBS opened at $33.81 on Monday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.83. The company has a market cap of $23.79 billion, a price-to-earnings ratio of 15.46, a PEG ratio of 6.67 and a beta of 0.75. Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp has a 52-week low of $18.09 and a 52-week high of $34.28. The firm's fifty day simple moving average is $29.46 and its two-hundred day simple moving average is $26.51.

Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp (NYSE:SBS - Get Free Report) last posted its quarterly earnings data on Saturday, February 14th. The utilities provider reported $0.71 earnings per share (EPS) for the quarter. The business had revenue of $1.03 billion for the quarter. Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp had a net margin of 23.64% and a return on equity of 15.76%. Equities analysts anticipate that Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp will post 2.17 earnings per share for the current fiscal year.

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

Hedge funds and other institutional investors have recently modified their holdings of the business. Perigon Wealth Management LLC purchased a new position in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp in the fourth quarter worth about $1,016,000. Osaic Holdings Inc. lifted its stake in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 2,540.8% in the second quarter. Osaic Holdings Inc. now owns 56,724 shares of the utilities provider's stock worth $1,246,000 after buying an additional 54,576 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 112.1% in the third quarter. Envestnet Asset Management Inc. now owns 187,629 shares of the utilities provider's stock worth $4,670,000 after buying an additional 99,181 shares in the last quarter. Boston Common Asset Management LLC purchased a new position in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp in the fourth quarter worth about $5,163,000. Finally, Exchange Traded Concepts LLC purchased a new position in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp in the third quarter worth about $1,731,000. 10.62% of the stock is owned by hedge funds and other institutional investors.

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

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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