Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp (NYSE:SBS) Rating Lowered to “Hold” at Zacks Research

Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp (NYSE:SBS) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Tuesday,Zacks.com reports.

Several other brokerages also recently issued reports on SBS. Wall Street Zen raised Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Weiss Ratings cut Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp from a “buy (a-)” rating to a “buy (b)” rating in a research note on Monday, May 11th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp has an average rating of “Moderate Buy” and a consensus target price of $183.00.

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

Shares of NYSE:SBS opened at $5.25 on Tuesday. The company’s fifty day moving average is $5.62 and its two-hundred day moving average is $84.79. The company has a market cap of $18.46 billion, a P/E ratio of 13.68, a price-to-earnings-growth ratio of 1.66 and a beta of 0.66. Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp has a 12-month low of $3.79 and a 12-month high of $7.16. The company has a quick ratio of 1.73, a current ratio of 1.74 and a debt-to-equity ratio of 1.07.

Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp (NYSE:SBS) last issued its earnings results on Thursday, May 7th. The utilities provider reported $0.02 EPS for the quarter, missing the consensus estimate of $0.08 by ($0.06). 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 analyst estimates of $1.28 billion. Equities analysts expect that Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp will post 0.97 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp

A number of institutional investors have recently modified their holdings of the stock. Jane Street Group LLC increased its stake in shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp by 349.0% in the first quarter. Jane Street Group LLC now owns 152,113 shares of the utilities provider’s stock worth $2,717,000 after acquiring an additional 118,237 shares during the last quarter. Cetera Investment Advisers boosted 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 purchasing an additional 2,383 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp by 17.9% in the second quarter. JPMorgan Chase & Co. now owns 60,488 shares of the utilities provider’s stock valued at $1,329,000 after purchasing an additional 9,169 shares in the last quarter. Russell Investments Group Ltd. grew its stake 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 valued at $1,099,000 after purchasing an additional 7,755 shares in the last quarter. Finally, Invesco Ltd. increased its position 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 during the last quarter. Institutional investors and hedge funds own 10.62% of the company’s stock.

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.