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

StockNews.com lowered shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) from a buy rating to a hold rating in a research report report published on Tuesday morning.

Companhia de Saneamento Básico do Estado de São Paulo – SABESP Stock Performance

Shares of SBS stock opened at $21.00 on Tuesday. The company has a market cap of $14.35 billion, a price-to-earnings ratio of 8.27 and a beta of 0.81. The stock has a 50 day simple moving average of $18.86 and a 200-day simple moving average of $16.87. Companhia de Saneamento Básico do Estado de São Paulo – SABESP has a 12-month low of $13.10 and a 12-month high of $21.05. The company has a current ratio of 1.14, a quick ratio of 1.13 and a debt-to-equity ratio of 0.56.

Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) last issued its earnings results on Monday, May 12th. The utilities provider reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.01). Companhia de Saneamento Básico do Estado de São Paulo – SABESP had a return on equity of 27.73% and a net margin of 25.62%. The business had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $7.67 billion. On average, equities analysts forecast that Companhia de Saneamento Básico do Estado de São Paulo – SABESP will post 2.17 EPS for the current year.

Hedge Funds Weigh In On Companhia de Saneamento Básico do Estado de São Paulo – SABESP

Several hedge funds have recently bought and sold shares of SBS. Amundi boosted its holdings in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 6.7% during the fourth quarter. Amundi now owns 6,752,801 shares of the utilities provider’s stock worth $96,732,000 after purchasing an additional 426,669 shares during the last quarter. Deutsche Bank AG boosted its holdings in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 55.1% during the fourth quarter. Deutsche Bank AG now owns 6,234,236 shares of the utilities provider’s stock worth $89,337,000 after purchasing an additional 2,213,846 shares during the last quarter. Citigroup Inc. boosted its holdings in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 50.6% during the first quarter. Citigroup Inc. now owns 2,473,310 shares of the utilities provider’s stock worth $44,173,000 after purchasing an additional 830,937 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 2.0% during the fourth quarter. Renaissance Technologies LLC now owns 1,730,495 shares of the utilities provider’s stock worth $24,798,000 after purchasing an additional 33,200 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 5.1% during the first quarter. Northern Trust Corp now owns 1,446,698 shares of the utilities provider’s stock worth $25,838,000 after purchasing an additional 69,612 shares during the last quarter. Hedge funds and other institutional investors own 10.62% of the company’s stock.

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

Companhia de Saneamento Basico do Estado de Sao Paulo SABESP engages in the provision of water and sewage service. It also offers advisory services on the rational use of water, planning and commercial, and financial and operational management. The company was founded on September 6, 1973 and is headquartered in São Paulo, Brazil.