Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp (NYSE:SBS) Posts Earnings Results, Beats Estimates By $0.27 EPS

Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp (NYSE:SBS) issued its quarterly earnings data on Monday. The utilities provider reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.27, Zacks reports. Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp had a return on equity of 29.34% and a net margin of 29.64%.The business had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.07 billion.

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

NYSE SBS traded up $0.66 on Wednesday, hitting $26.68. 1,102,987 shares of the company were exchanged, compared to its average volume of 1,040,746. Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp has a 1-year low of $13.87 and a 1-year high of $26.74. The firm has a 50 day moving average of $24.06 and a two-hundred day moving average of $21.88. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.69. The company has a market cap of $18.24 billion, a P/E ratio of 9.23 and a beta of 0.82.

Analyst Ratings Changes

Several brokerages have issued reports on SBS. Weiss Ratings reissued a “buy (b)” rating on shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp in a report on Wednesday, October 8th. Zacks Research raised shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, September 2nd. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Strong Buy”.

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

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its stake in Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp by 16.2% in the third quarter. Dimensional Fund Advisors LP now owns 663,935 shares of the utilities provider’s stock valued at $16,497,000 after purchasing an additional 92,405 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp by 43.3% during the third quarter. JPMorgan Chase & Co. now owns 86,700 shares of the utilities provider’s stock worth $2,158,000 after purchasing an additional 26,212 shares in the last quarter. Strategic Investment Advisors MI acquired a new position in shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp in the 2nd quarter valued at $329,000. Vident Advisory LLC increased its position in shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp by 4.1% in the 2nd quarter. Vident Advisory LLC now owns 29,030 shares of the utilities provider’s stock valued at $638,000 after buying an additional 1,146 shares in the last quarter. Finally, Tidal Investments LLC acquired a new stake in Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp during the 2nd quarter worth $548,000. Institutional investors own 10.62% of the company’s stock.

About Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp

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.