Wall Street Zen lowered shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp (NYSE:SBS – Free Report) from a buy rating to a hold rating in a report released on Saturday.
SBS has been the subject of a number of other research reports. 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 note on Tuesday, July 28th. Weiss Ratings cut Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp from a “buy (a-)” rating to a “buy (b)” rating in a research report on Monday, May 11th. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $183.00.
Read Our Latest Stock Report on SBS
Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp Stock Down 0.3%
Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp (NYSE:SBS – Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The utilities provider reported $0.02 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 net margin of 24.25% and a return on equity of 16.38%. The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.28 billion. As a group, research analysts expect that Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp will post 0.34 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Handelsbanken Fonder AB boosted its holdings in 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 worth $6,646,000 after acquiring an additional 958,808 shares in the last quarter. Paladin Wealth LLC acquired a new position in shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp during the second quarter valued at about $133,000. Hennion & Walsh Asset Management Inc. acquired a new position in shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp during the second quarter valued at about $190,000. Gradient Investments LLC raised its position in shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp by 423.2% in the 2nd quarter. Gradient Investments LLC now owns 985,027 shares of the utilities provider’s stock valued at $5,693,000 after purchasing an additional 796,772 shares during the last quarter. Finally, Balefire LLC purchased a new position in shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp in the 2nd quarter valued at approximately $109,000. 10.62% of the stock is currently owned by hedge funds and other institutional investors.
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.
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