Companhia de Saneamento Básico do Estado de São Paulo - SABESP (NYSE:SBS) Shares Gap Down Following Weak Earnings

Companhia de Saneamento Básico do Estado de São Paulo - SABESP (NYSE:SBS - Get Free Report) gapped down before the market opened on Monday following a dissappointing earnings announcement. The stock had previously closed at $20.59, but opened at $19.79. Companhia de Saneamento Básico do Estado de São Paulo - SABESP shares last traded at $20.06, with a volume of 452,597 shares trading hands.

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 Básico do Estado de São Paulo - SABESP had a net margin of 25.62% and a return on equity of 27.73%. The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $7.67 billion.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded shares of Companhia de Saneamento Básico do Estado de São Paulo - SABESP from a "buy" rating to a "hold" rating in a research report on Friday, May 9th.

Institutional Trading of Companhia de Saneamento Básico do Estado de São Paulo - SABESP

A number of hedge funds and other institutional investors have recently modified their holdings of SBS. SBI Securities Co. Ltd. purchased a new position in Companhia de Saneamento Básico do Estado de São Paulo - SABESP during the fourth quarter valued at $26,000. Brooklyn Investment Group lifted its holdings in shares of Companhia de Saneamento Básico do Estado de São Paulo - SABESP by 166.0% in the 1st quarter. Brooklyn Investment Group now owns 2,234 shares of the utilities provider's stock worth $40,000 after acquiring an additional 1,394 shares during the last quarter. Banque Cantonale Vaudoise bought a new stake in shares of Companhia de Saneamento Básico do Estado de São Paulo - SABESP in the 1st quarter worth about $44,000. J.Safra Asset Management Corp bought a new stake in shares of Companhia de Saneamento Básico do Estado de São Paulo - SABESP in the 4th quarter worth about $54,000. Finally, Headlands Technologies LLC bought a new stake in Companhia de Saneamento Básico do Estado de São Paulo - SABESP during the 1st quarter valued at about $54,000. 10.62% of the stock is owned by hedge funds and other institutional investors.

Companhia de Saneamento Básico do Estado de São Paulo - SABESP Stock Up 0.8%

The business's fifty day moving average is $18.69 and its two-hundred day moving average is $16.80. The company has a market cap of $14.02 billion, a P/E ratio of 8.07 and a beta of 0.81. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.13 and a current ratio of 1.14.

Companhia de Saneamento Básico do Estado de São 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.