Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp (NYSE:SBS) Releases Quarterly Earnings Results, Misses Expectations By $0.03 EPS

Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp (NYSE:SBS) released its quarterly earnings data on Wednesday. The utilities provider reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.03), FiscalAI reports. Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp had a net margin of 24.25% and a return on equity of 16.38%. The company had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.23 billion.

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

Shares of SBS traded up $0.04 during trading hours on Wednesday, hitting $5.07. The company’s stock had a trading volume of 7,662,129 shares, compared to its average volume of 6,614,941. Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp has a 52-week low of $4.18 and a 52-week high of $7.16. The company has a market cap of $17.84 billion, a price-to-earnings ratio of 13.22, a PEG ratio of 4.44 and a beta of 0.68. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.74 and a quick ratio of 1.73. The business has a 50 day simple moving average of $5.57 and a two-hundred day simple moving average of $77.66.

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 business. Jane Street Group LLC lifted its holdings in shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp by 349.0% during the 1st quarter. Jane Street Group LLC now owns 152,113 shares of the utilities provider’s stock worth $2,717,000 after acquiring an additional 118,237 shares during the last quarter. Cetera Investment Advisers grew its position in shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp by 23.5% in the 2nd quarter. Cetera Investment Advisers now owns 12,516 shares of the utilities provider’s stock worth $275,000 after buying an additional 2,383 shares during the last quarter. JPMorgan Chase & Co. increased its position in Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp by 17.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 60,488 shares of the utilities provider’s stock valued at $1,329,000 after purchasing an additional 9,169 shares during the period. Russell Investments Group Ltd. lifted its holdings in Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp by 18.4% in the second quarter. Russell Investments Group Ltd. now owns 50,001 shares of the utilities provider’s stock worth $1,099,000 after buying an additional 7,755 shares during the period. Finally, Invesco Ltd. boosted its position in shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp by 22.6% during the second quarter. Invesco Ltd. now owns 1,002,308 shares of the utilities provider’s stock valued at $22,021,000 after purchasing an additional 184,486 shares in the last quarter. Hedge funds and other institutional investors own 10.62% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on SBS shares. Wall Street Zen raised shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp from a “hold” rating to a “buy” rating in a research note on Sunday. Weiss Ratings reissued a “buy (b)” rating on shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp in a research note on Friday. Finally, Zacks Research lowered shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 28th. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $183.00.

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

Companhia de Saneamento Básico do Estado de São Paulo (SABESP) is a Brazilian utility that provides water supply and wastewater collection and treatment services. As the principal sanitation company serving the state of São Paulo, SABESP operates a wide range of infrastructure spanning water capture, treatment plants, distribution networks and sewage systems. The company’s activities support residential, commercial and industrial customers and are focused on delivering potable water, ensuring water quality and expanding access to sanitation services.

SABESP’s service offering includes the operation and maintenance of water treatment and sewage treatment facilities, network expansion and rehabilitation, meter reading and billing, customer service and environmental programs aimed at improving sewage treatment rates and protecting water resources.