Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp (NYSE:SBS) Sees Strong Trading Volume - Here's Why

Key Points

• SABESP shares traded actively, with 4.35 million shares changing hands—39% below the prior session—while the stock rose to $5.046 from a $4.87 close.
• Analyst sentiment remains positive overall, with two Buy ratings and one Hold rating producing a “Moderate Buy” consensus, although several firms recently downgraded their ratings.
• The company missed quarterly expectations, reporting $0.07 in EPS versus $0.09 expected and revenue of $1.16 billion versus $1.23 billion forecast; institutional investors own 10.62% of the stock.

Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp (NYSE:SBS - Get Free Report) shares saw unusually-strong trading volume on Wednesday . 4,346,676 shares traded hands during trading, a decline of 39% from the previous session's volume of 7,155,943 shares.The stock last traded at $5.0460 and had previously closed at $4.87.

Analyst Ratings Changes

Several research analysts have weighed in on SBS shares. Wall Street Zen lowered Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp from a "buy" rating to a "hold" rating in a research report on Monday, August 17th. Weiss Ratings downgraded Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp from a "buy (b)" rating to a "buy (b-)" rating in a report on Friday, August 21st. Finally, Zacks Research cut shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, July 28th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $183.00.

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

The company has a market capitalization of $18.00 billion, a P/E ratio of 14.37, a PEG ratio of 3.91 and a beta of 0.67. The stock's fifty day moving average price is $5.37 and its 200-day moving average price is $63.67. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.47 and a current ratio of 1.47.

Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp (NYSE:SBS - Get Free Report) last posted its quarterly earnings results on Wednesday, August 12th. The utilities provider reported $0.07 EPS for the quarter, missing analysts' consensus estimates of $0.09 by ($0.02). The business had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.23 billion. 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%. As a group, research analysts anticipate that Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp will post 0.36 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Arax Advisory Partners acquired a new stake in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp during the 4th quarter valued at $26,000. Garton & Associates Financial Advisors LLC acquired a new position in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp in the fourth quarter valued at $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 in the fourth quarter valued at $54,000. EverSource Wealth Advisors LLC raised its position in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 246.4% in the second quarter. EverSource Wealth Advisors LLC now owns 2,342 shares of the utilities provider's stock valued at $51,000 after purchasing an additional 1,666 shares during the period. Finally, Atlas Capital Advisors Inc. bought a new position in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp in the fourth quarter valued at about $86,000. 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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