Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp (NYSE:SBS) Sets New 1-Year Low - Here's Why

Key Points

• Sabesp shares hit a new 52-week low, falling 3.4% intraday to about $4.40 amid trading volume of 58,649 shares.
• Analyst sentiment weakened, with Weiss Ratings, Wall Street Zen and Zacks Research all downgrading the stock; the consensus remains “Moderate Buy,” with an average target price of $183.
• The company missed quarterly expectations, reporting EPS of $0.07 versus $0.09 expected and revenue of $1.16 billion versus $1.23 billion forecast, while institutional investors hold 10.62% of its shares.

Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp (NYSE:SBS - Get Free Report) hit a new 52-week low during mid-day trading on Tuesday. The stock traded as low as $4.41 and last traded at $4.3950, with a volume of 58,649 shares changing hands. The stock had previously closed at $4.52.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on SBS shares. Weiss Ratings lowered Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp from a "buy (b)" rating to a "buy (b-)" rating in a research note on Friday, August 21st. Wall Street Zen downgraded Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp from a "buy" rating to a "hold" rating in a research note on Monday, August 17th. Finally, 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. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $183.00.

Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp Trading Down 3.4%

The firm has a market capitalization of $15.36 billion, a price-to-earnings ratio of 12.24, a PEG ratio of 3.54 and a beta of 0.67. The company has a fifty day moving average price of $5.46 and a two-hundred day moving average price of $58.06. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 1.02.

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 the consensus estimate of $0.09 by ($0.02). Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp had a net margin of 23.93% and a return on equity of 14.03%. The company had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.23 billion. As a group, research analysts forecast that Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp will post 0.38 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC grew its holdings in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp by 430.6% in the second quarter. GAMMA Investing LLC now owns 8,341 shares of the utilities provider's stock valued at $48,000 after purchasing an additional 6,769 shares during the period. Dynamic Advisor Solutions LLC acquired a new position in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp in the 2nd quarter valued at about $61,000. Rehmann Capital Advisory Group acquired a new position in Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp in the 2nd quarter valued at about $67,000. Plan A Wealth LLC purchased a new stake in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp in the 2nd quarter valued at approximately $68,000. Finally, Kestra Advisory Services LLC purchased a new stake in shares of Companhia de saneamento Basico Do Estado De Sao Paulo - Sabesp in the 3rd quarter valued at approximately $69,000. 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, known as Sabesp, is a Brazilian water and sanitation company headquartered in São Paulo. Established in 1973, the company provides essential public-utility services, including the production, treatment and distribution of drinking water and the collection and treatment of wastewater.

Sabesp serves municipalities across the state of São Paulo, with a significant presence in the São Paulo metropolitan area and other urban and regional communities.

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