Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) Downgraded by StockNews.com to Hold

StockNews.com downgraded shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) from a buy rating to a hold rating in a report released on Thursday.

Companhia de Saneamento Básico do Estado de São Paulo – SABESP Trading Up 1.7 %

SBS opened at $17.06 on Thursday. The company’s 50 day moving average is $16.50 and its 200-day moving average is $15.67. The company has a market cap of $11.66 billion, a P/E ratio of 16.09 and a beta of 1.16. Companhia de Saneamento Básico do Estado de São Paulo – SABESP has a 1-year low of $11.29 and a 1-year high of $18.36. The company has a current ratio of 1.36, a quick ratio of 1.21 and a debt-to-equity ratio of 0.61.

Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) last issued its quarterly earnings data on Thursday, August 8th. The utilities provider reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.08. Companhia de Saneamento Básico do Estado de São Paulo – SABESP had a return on equity of 13.34% and a net margin of 15.00%. The business had revenue of $1.30 billion for the quarter. Equities research analysts predict that Companhia de Saneamento Básico do Estado de São Paulo – SABESP will post 1.06 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Companhia de Saneamento Básico do Estado de São Paulo – SABESP

Several large investors have recently modified their holdings of SBS. Pingora Partners LLC bought a new stake in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP during the 4th quarter valued at about $30,000. Summit Securities Group LLC bought a new position in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP during the 2nd quarter worth approximately $95,000. Point72 Asia Singapore Pte. Ltd. grew its position in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 55.6% during the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 9,305 shares of the utilities provider’s stock worth $125,000 after buying an additional 3,324 shares during the period. First Affirmative Financial Network increased its stake in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 10.6% in the 2nd quarter. First Affirmative Financial Network now owns 11,165 shares of the utilities provider’s stock valued at $150,000 after acquiring an additional 1,069 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC acquired a new position in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP during the 2nd quarter valued at $155,000. 10.62% of the stock is currently owned by institutional investors and hedge funds.

Companhia de Saneamento Básico do Estado de São Paulo – SABESP Company Profile

Companhia de Saneamento Básico do Estado de São Paulo SABESP provides basic and environmental sanitation services in the São Paulo State, Brazil. The company supplies treated water and sewage services to residential, commercial, and industrial private customers, as well as public. As of December 31, 2022, it provided water services through 10.1 million water connections; and sewage services through 8.6 million sewage connections in 375 municipalities of the São Paulo State.