Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp (NYSE:SBS) Short Interest Down 43.9% in July

Key Points

• Short interest fell 43.9% to 14.5 million shares as of July 15, representing 0.4% of shares outstanding and 2.9 days to cover.
• Analyst sentiment remained positive, with a consensus “Buy” rating and an average price target of $183; recent ratings included upgrades from Zacks Research and Wall Street Zen.
• SBS shares recently traded at $5.27, down 4.5%, while the company’s latest quarterly results missed expectations, reporting $0.02 in earnings per share versus the $0.08 consensus estimate and revenue of $1.16 billion versus $1.28 billion expected.

Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp (NYSE:SBS - Get Free Report) was the target of a large decline in short interest in July. As of July 15th, there was short interest totaling 14,515,329 shares, a decline of 43.9% from the June 30th total of 25,870,594 shares. Currently, 0.4% of the shares of the stock are sold short. Based on an average daily trading volume, of 4,998,783 shares, the days-to-cover ratio is currently 2.9 days.

Analysts Set New Price Targets

SBS has been the subject of several recent analyst reports. Weiss Ratings lowered shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp from a "buy (a-)" rating to a "buy (b)" rating in a report on Monday, May 11th. Zacks Research upgraded shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp from a "hold" rating to a "strong-buy" rating in a research report on Monday, July 13th. Finally, Wall Street Zen upgraded shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp from a "hold" rating to a "buy" rating in a research report on Saturday, May 2nd. One analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $183.00.

Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp Stock Down 4.5%

NYSE SBS traded down $0.25 on Wednesday, reaching $5.27. The company had a trading volume of 8,118,346 shares, compared to its average volume of 6,614,701. The company's fifty day moving average is $5.63 and its 200-day moving average is $85.61. Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp has a 1-year low of $3.79 and a 1-year high of $7.16. The firm has a market capitalization of $18.56 billion, a price-to-earnings ratio of 13.75, a price-to-earnings-growth ratio of 1.71 and a beta of 0.66. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.73 and a current ratio of 1.74.

Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp (NYSE:SBS - Get Free Report) last announced its earnings results on Thursday, May 7th. The utilities provider reported $0.02 EPS for the quarter, missing the consensus estimate of $0.08 by ($0.06). The business had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.28 billion. 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%. On average, research analysts forecast that Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp will post 0.97 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. VPR Management LLC raised its position in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 1.3% in the 4th quarter. VPR Management LLC now owns 29,056 shares of the utilities provider's stock valued at $693,000 after buying an additional 376 shares in the last quarter. Creative Planning lifted its stake in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 1.3% in the 3rd quarter. Creative Planning now owns 31,150 shares of the utilities provider's stock valued at $775,000 after acquiring an additional 386 shares during the last quarter. Sequoia Financial Advisors LLC boosted its holdings in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 2.3% during the 4th quarter. Sequoia Financial Advisors LLC now owns 18,343 shares of the utilities provider's stock valued at $437,000 after acquiring an additional 406 shares in the last quarter. Signaturefd LLC grew its position in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 5.2% during the 4th quarter. Signaturefd LLC now owns 9,750 shares of the utilities provider's stock worth $233,000 after acquiring an additional 484 shares during the last quarter. Finally, Quadrant Capital Group LLC grew its position in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 5.0% during the 4th quarter. Quadrant Capital Group LLC now owns 10,344 shares of the utilities provider's stock worth $247,000 after acquiring an additional 491 shares during the last quarter. 10.62% of the stock is owned by institutional investors and hedge funds.

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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