Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp (NYSE:SBS) Sees Large Volume Increase – Here’s Why

Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp (NYSE:SBS) shares saw an uptick in trading volume on Wednesday . Approximately 4,346,676 shares traded hands during mid-day trading, a decline of 39% from the previous session’s volume of 7,155,943 shares.The stock last traded at $5.0460 and had previously closed at $4.87.

Analysts Set New Price Targets

Several research analysts have weighed in on SBS shares. Wall Street Zen downgraded 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. Zacks Research downgraded 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. Finally, Weiss Ratings lowered Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, August 21st. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $183.00.

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

The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 1.02. The company’s fifty day moving average price is $5.37 and its 200 day moving average price is $63.67. The company has a market capitalization of $18.00 billion, a P/E ratio of 14.37, a PEG ratio of 3.91 and a beta of 0.67.

Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp (NYSE:SBS) last issued its quarterly earnings results on Wednesday, August 12th. The utilities provider reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.02). 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 had a net margin of 23.93% and a return on equity of 14.03%. As a group, sell-side analysts forecast that Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp will post 0.36 EPS for the current year.

Institutional Trading of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp

Several large investors have recently modified their holdings of SBS. Arax Advisory Partners bought a new position in shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp in the fourth quarter worth $26,000. Garton & Associates Financial Advisors LLC bought a new stake in Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp during the fourth quarter worth about $44,000. GAMMA Investing LLC lifted its position in Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp by 430.6% during the second quarter. GAMMA Investing LLC now owns 8,341 shares of the utilities provider’s stock worth $48,000 after purchasing an additional 6,769 shares during the period. EverSource Wealth Advisors LLC grew its stake in Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp by 246.4% during the second quarter. EverSource Wealth Advisors LLC now owns 2,342 shares of the utilities provider’s stock worth $51,000 after buying an additional 1,666 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp during the fourth quarter worth about $54,000. 10.62% of the stock is owned by institutional investors and hedge funds.

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.