Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp (NYSE:SBS) Issues Quarterly Earnings Results

Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp (NYSE:SBS) posted its earnings results on Monday. The utilities provider reported $0.34 earnings per share for the quarter, topping 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 company had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.07 billion.

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

SBS traded up $0.66 during trading on Wednesday, hitting $26.68. 1,102,987 shares of the stock traded hands, compared to its average volume of 1,040,746. The business has a 50 day moving average price of $24.06 and a 200 day moving average price of $21.88. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.26 and a quick ratio of 1.26. Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp has a twelve month low of $13.87 and a twelve month high of $26.74. The company has a market cap of $18.24 billion, a price-to-earnings ratio of 9.23 and a beta of 0.82.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp in a research report on Wednesday, October 8th. Zacks Research upgraded 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 research analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Strong Buy”.

Hedge Funds Weigh In On Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp

A number of institutional investors have recently modified their holdings of the business. EverSource Wealth Advisors LLC boosted its stake in Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp by 246.4% in the second quarter. EverSource Wealth Advisors LLC now owns 2,342 shares of the utilities provider’s stock valued at $51,000 after buying an additional 1,666 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp during the second quarter worth about $133,000. Cetera Investment Advisers lifted its holdings in shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp by 23.5% in the second quarter. Cetera Investment Advisers now owns 12,516 shares of the utilities provider’s stock worth $275,000 after acquiring an additional 2,383 shares during the last quarter. Strategic Investment Advisors MI bought a new position in shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp in the second quarter worth about $329,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp in the 2nd quarter valued at approximately $376,000. 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 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.