Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp (NYSE:SBS) Issues Quarterly Earnings Results

Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp (NYSE:SBS) posted its quarterly earnings results on Wednesday. The utilities provider reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.03), FiscalAI reports. 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%.The business had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.23 billion.

Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp Price Performance

Shares of SBS stock traded up $0.04 during trading hours on Wednesday, hitting $5.07. The stock had a trading volume of 7,662,129 shares, compared to its average volume of 6,614,941. The stock has a market capitalization of $17.84 billion, a price-to-earnings ratio of 13.22, a PEG ratio of 4.44 and a beta of 0.68. The stock’s 50-day moving average price is $5.57 and its two-hundred day moving average price is $77.66. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.74 and a quick ratio of 1.73. Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp has a one year low of $4.18 and a one year high of $7.16.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of SBS. Quadrant Capital Group LLC grew its position in Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp by 5.0% in the fourth 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 in the last quarter. Public Employees Retirement System of Ohio increased its stake in Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp by 361.4% during the third quarter. Public Employees Retirement System of Ohio now owns 7,733 shares of the utilities provider’s stock worth $192,000 after acquiring an additional 6,057 shares during the last quarter. Raymond James Financial Inc. raised its position in Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp by 34.3% during the third quarter. Raymond James Financial Inc. now owns 8,103 shares of the utilities provider’s stock valued at $202,000 after purchasing an additional 2,069 shares during the period. Schroder Investment Management Group bought a new stake in shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp in the 3rd quarter valued at approximately $254,000. Finally, Diversify Advisory Services LLC bought a new stake in shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp in the 3rd quarter valued at approximately $250,000. 10.62% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. 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 report on Tuesday, July 28th. Wall Street Zen upgraded Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp from a “hold” rating to a “buy” rating in a research note on Sunday. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp in a research note on Friday. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp has an average rating of “Moderate Buy” and a consensus price target of $183.00.

About Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp

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.