Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp (NYSE:SBS) Lowered to “Hold” Rating by Zacks Research

Zacks Research lowered shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp (NYSE:SBS) from a strong-buy rating to a hold rating in a report released on Tuesday morning,Zacks.com reports.

Several other equities analysts have also issued reports on the company. Wall Street Zen raised Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Weiss Ratings downgraded Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp from a “buy (a-)” rating to a “buy (b)” rating in a research note on Monday, May 11th. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $183.00.

Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp Stock Down 5.0%

SBS stock opened at $5.25 on Tuesday. The firm has a market capitalization of $18.46 billion, a PE ratio of 13.68, a P/E/G ratio of 1.66 and a beta of 0.66. The company has a quick ratio of 1.73, a current ratio of 1.74 and a debt-to-equity ratio of 1.07. Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp has a twelve month low of $3.79 and a twelve month high of $7.16. The stock’s 50 day moving average is $5.62 and its 200-day moving average is $84.79.

Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp (NYSE:SBS) last announced its quarterly earnings results on Thursday, May 7th. The utilities provider reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.06). Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp had a return on equity of 16.38% and a net margin of 24.25%.The company had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.28 billion. Sell-side analysts expect that Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp will post 0.97 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SBS. Bank of America Corp DE lifted its holdings in Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp by 54.9% during the second quarter. Bank of America Corp DE now owns 3,152,070 shares of the utilities provider’s stock valued at $69,251,000 after purchasing an additional 1,116,681 shares during the last quarter. WCM Investment Management LLC raised its holdings in 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 valued at $64,716,000 after acquiring an additional 1,756,304 shares during the period. Mackenzie Financial Corp raised its holdings in Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp by 2.3% during the 4th quarter. Mackenzie Financial Corp now owns 2,161,328 shares of the utilities provider’s stock valued at $52,072,000 after acquiring an additional 48,214 shares during the period. Vanguard Group Inc. lifted its position in shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp by 2.4% during the fourth quarter. Vanguard Group Inc. now owns 2,094,992 shares of the utilities provider’s stock worth $49,966,000 after acquiring an additional 48,587 shares in the last quarter. Finally, Wellington Management Group LLP boosted its holdings in shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp by 61.9% in the fourth quarter. Wellington Management Group LLP now owns 1,785,307 shares of the utilities provider’s stock worth $42,580,000 after acquiring an additional 682,699 shares during the period. Institutional investors 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 (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.