Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp (NYSE:SBS) Hits New 52-Week Low – Here’s What Happened

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

Wall Street Analyst Weigh In

SBS has been the topic of several recent research reports. Zacks Research lowered 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. 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 research report on Friday, August 21st. Finally, Wall Street Zen downgraded shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp from a “buy” rating to a “hold” rating in a research report on Monday, August 17th. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the 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 an average target price of $183.00.

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

The company has a 50-day moving average of $5.45 and a 200-day moving average of $56.95. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 1.02. The firm has a market capitalization of $16.24 billion, a price-to-earnings ratio of 17.26, a price-to-earnings-growth ratio of 3.36 and a beta of 0.79.

Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp (NYSE:SBS) last announced its quarterly earnings data on Wednesday, August 12th. The utilities provider reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.23 billion. On average, equities 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.

Hedge Funds Weigh In On Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SBS. WCM Investment Management LLC raised its holdings in shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp by 396.7% in the 1st quarter. WCM Investment Management LLC now owns 2,198,987 shares of the utilities provider’s stock worth $64,716,000 after purchasing an additional 1,756,304 shares in the last quarter. Kapitalo Investimentos Ltda boosted its position in Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp by 1,506.4% during the 3rd quarter. Kapitalo Investimentos Ltda now owns 1,552,893 shares of the utilities provider’s stock worth $8,246,000 after acquiring an additional 1,456,225 shares during the period. Gradient Investments LLC increased its holdings in shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp by 18.0% in the 3rd quarter. Gradient Investments LLC now owns 1,161,854 shares of the utilities provider’s stock valued at $6,169,000 after purchasing an additional 176,827 shares during the period. Handelsbanken Fonder AB lifted its position in shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp by 502.2% in the second quarter. Handelsbanken Fonder AB now owns 1,149,745 shares of the utilities provider’s stock worth $6,646,000 after purchasing an additional 958,808 shares in the last quarter. Finally, Assetmark Inc. lifted its position in shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp by 10.8% in the first quarter. Assetmark Inc. now owns 1,091,869 shares of the utilities provider’s stock worth $33,313,000 after purchasing an additional 106,469 shares in the last quarter. 10.62% of the stock is owned by institutional investors.

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.