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

Key Points

• Wall Street Zen downgraded Sabesp (NYSE:SBS) from “buy” to “hold.” Despite the change, analysts maintain a “Moderate Buy” consensus with a $183.00 target price.
• Sabesp reported quarterly EPS of $0.07, below the $0.09 consensus estimate, while revenue of $1.16 billion also missed expectations of $1.23 billion.
• Several institutional investors increased or initiated positions in the company during the second quarter, with institutional ownership reaching 10.62%.

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

SBS has been the topic of several other 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. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $183.00.

Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp Stock Up 0.3%

Shares of SBS stock opened at $4.61 on Monday. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.47 and a quick ratio of 1.47. Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp has a one year low of $4.18 and a one year high of $7.16. The company's fifty day moving average price is $5.54 and its 200-day moving average price is $75.00. The company has a market capitalization of $16.24 billion, a price-to-earnings ratio of 12.94, a PEG ratio of 3.92 and a beta of 0.68.

Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp (NYSE:SBS - Get Free Report) last issued its earnings results on Wednesday, August 12th. The utilities provider reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.02). Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp had a return on equity of 14.03% and a net margin of 23.93%.The firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.23 billion. Sell-side analysts expect that Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp will post 0.34 EPS for the current fiscal year.

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

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