Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp (NYSE:SBS) Posts Earnings Results, Misses Estimates By $0.02 EPS

Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp (NYSE:SBS) released 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), Zacks reports. 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%.The company 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 Stock Performance

SBS stock opened at $4.86 on Friday. Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp has a twelve month low of $4.38 and a twelve month high of $7.16. The firm has a market cap of $17.10 billion, a price-to-earnings ratio of 13.63, a PEG ratio of 3.88 and a beta of 0.68. The business’s fifty day simple moving average is $5.39 and its two-hundred day simple moving average is $66.21. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 1.02.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Jane Street Group LLC lifted its holdings in Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp by 349.0% during the 1st quarter. Jane Street Group LLC now owns 152,113 shares of the utilities provider’s stock valued at $2,717,000 after buying an additional 118,237 shares in the last quarter. Cetera Investment Advisers lifted its position in Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp by 23.5% during the second quarter. Cetera Investment Advisers now owns 12,516 shares of the utilities provider’s stock valued at $275,000 after acquiring an additional 2,383 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp by 17.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 60,488 shares of the utilities provider’s stock worth $1,329,000 after purchasing an additional 9,169 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp by 18.4% in the second quarter. Russell Investments Group Ltd. now owns 50,001 shares of the utilities provider’s stock worth $1,099,000 after acquiring an additional 7,755 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp by 22.6% in the 2nd quarter. Invesco Ltd. now owns 1,002,308 shares of the utilities provider’s stock worth $22,021,000 after purchasing an additional 184,486 shares in the last quarter. 10.62% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on SBS shares. Wall Street Zen lowered shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp from a “buy” rating to a “hold” rating in a report on Monday, August 17th. Weiss Ratings downgraded shares of 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 lowered shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 28th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp presently has a consensus rating of “Moderate Buy” and a consensus target price of $183.00.

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.