Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp (NYSE:SBS) Shares Gap Up – Time to Buy?

Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp (NYSE:SBS)’s share price gapped up before the market opened on Monday. The stock had previously closed at $5.38, but opened at $6.23. Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp shares last traded at $6.2860, with a volume of 7,942,551 shares.

Analyst Ratings Changes

SBS has been the topic of a number of analyst reports. Wall Street Zen lowered 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. 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, Zacks Research downgraded shares of 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. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $183.00.

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

The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.47 and a current ratio of 1.47. The company has a 50-day simple moving average of $5.15 and a 200-day simple moving average of $39.17. The company has a market cap of $22.57 billion, a price-to-earnings ratio of 17.99, a PEG ratio of 4.79 and a beta of 0.67.

Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp (NYSE:SBS) last issued its earnings results on Wednesday, August 12th. The utilities provider reported $0.07 earnings per share (EPS) 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 return on equity of 14.03% and a net margin of 23.93%.The business had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.23 billion. As a group, research analysts predict that Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp will post 0.38 earnings per share for the current year.

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

Hedge funds and other institutional investors have recently bought and sold shares of the business. WCM Investment Management LLC grew its stake in shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp by 396.7% during 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 during the period. Handelsbanken Fonder AB lifted its stake 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 valued at $6,646,000 after purchasing an additional 958,808 shares during the period. Assetmark Inc. lifted its stake 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 valued at $33,313,000 after purchasing an additional 106,469 shares during the period. Gradient Investments LLC boosted its holdings in Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp by 423.2% during the second quarter. Gradient Investments LLC now owns 985,027 shares of the utilities provider’s stock worth $5,693,000 after buying an additional 796,772 shares in the last quarter. Finally, BTG Pactual Asset Management US LLC boosted its holdings in Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp by 419.6% during the second quarter. BTG Pactual Asset Management US LLC now owns 827,173 shares of the utilities provider’s stock worth $4,781,000 after buying an additional 667,972 shares in the last quarter. Institutional investors and hedge funds own 10.62% of the company’s stock.

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 wastewater services company headquartered in São Paulo. Its principal activities include the collection, treatment and distribution of drinking water, as well as the collection, treatment and disposal of sewage.

Sabesp supplies residential, commercial, industrial and public-sector customers. The company also operates and maintains water-production, distribution and wastewater-treatment infrastructure, and provides related services such as connections, metering and customer support.

Established in 1973, Sabesp has historically served hundreds of municipalities in the state of São Paulo, including the São Paulo metropolitan region, and has been one of Brazil’s largest sanitation companies by population served.