Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp (NYSE:SBS) Sets New 52-Week High - Here's What Happened

Key Points

• Reached a new 52-week high — SBS traded as high as $34.28 (last $34.08) with 154,153 shares changing hands, and analysts’ consensus is a Strong Buy with a $36.60 price target after recent upgrades from Jefferies, Zacks and Weiss.
• Special dividend announced — SABESP disclosed a $0.4772 special dividend payable May 11 to holders of record March 27 (ex-dividend March 27), which the report states represents a 55.0% yield.
• Solid recent results and valuation — The company posted quarterly EPS of $0.71 on $1.03 billion revenue, with a net margin of 23.64%, ROE of 15.76%, a market cap of $23.98 billion and a P/E of 15.59.

Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp (NYSE:SBS - Get Free Report) reached a new 52-week high during trading on Tuesday . The company traded as high as $34.28 and last traded at $34.0810, with a volume of 154153 shares traded. The stock had previously closed at $33.68.

Analysts Set New Price Targets

Several analysts recently commented on SBS shares. Jefferies Financial Group assumed coverage on Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp in a research note on Thursday, March 19th. They set a "buy" rating and a $36.60 price objective on the stock. Zacks Research raised Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 11th. Finally, Weiss Ratings raised Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp from a "buy (b)" rating to a "buy (a-)" rating in a research note on Tuesday, March 17th. Two investment analysts have rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Strong Buy" and a consensus price target of $36.60.

Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp Trading Up 1.2%

The company's fifty day simple moving average is $29.34 and its 200-day simple moving average is $26.44. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.12 and a quick ratio of 1.12. The firm has a market capitalization of $23.98 billion, a PE ratio of 15.59, a P/E/G ratio of 6.76 and a beta of 0.75.

Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp (NYSE:SBS - Get Free Report) last posted its quarterly earnings results on Saturday, February 14th. The utilities provider reported $0.71 earnings per share 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%. The firm had revenue of $1.03 billion for the quarter. As a group, sell-side analysts expect that Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp will post 2.17 earnings per share for the current fiscal year.

Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp Announces Dividend

The firm also recently disclosed a special dividend, which will be paid on Monday, May 11th. Investors of record on Friday, March 27th will be issued a $0.4772 dividend. The ex-dividend date is Friday, March 27th. This represents a dividend yield of 55.0%. Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp's payout ratio is 4.57%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Arax Advisory Partners purchased a new stake in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp during the 4th quarter worth approximately $26,000. Garton & Associates Financial Advisors LLC acquired a new position in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp during the 4th quarter worth $44,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp during the 4th quarter worth $54,000. EverSource Wealth Advisors LLC grew its stake in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 246.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,342 shares of the utilities provider's stock worth $51,000 after purchasing an additional 1,666 shares during the period. Finally, Atlas Capital Advisors Inc. acquired a new position in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp during the 4th quarter worth $86,000. Hedge funds and other 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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