Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp (NYSE:SBS – Get Free Report)’s stock price traded down 6.8% on Thursday after the company announced weaker than expected quarterly earnings. The stock traded as low as $4.77 and last traded at $4.7550. Approximately 3,486,376 shares changed hands during trading, a decline of 47% from the average daily volume of 6,580,449 shares. The stock had previously closed at $5.10.
The utilities provider reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.02). The company had revenue of $1.16 billion for 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 24.25% and a return on equity of 16.38%.
Analysts Set New Price Targets
A number of analysts have commented on SBS shares. Wall Street Zen upgraded shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp from a “hold” rating to a “buy” rating in a research report on Sunday. Zacks Research cut 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. Finally, 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 Friday, August 7th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $183.00.
Institutional Trading of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp
Several institutional investors and hedge funds have recently added to or reduced their stakes in SBS. Arax Advisory Partners bought a new stake in Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp during the fourth quarter worth approximately $26,000. Garton & Associates Financial Advisors LLC acquired a new stake in shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp during the 4th quarter valued at $44,000. GAMMA Investing LLC lifted its position in shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp by 430.6% during the 2nd quarter. GAMMA Investing LLC now owns 8,341 shares of the utilities provider’s stock valued at $48,000 after acquiring an additional 6,769 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp by 246.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,342 shares of the utilities provider’s stock worth $51,000 after acquiring an additional 1,666 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd bought a new stake in shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp during the 4th quarter worth $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 Stock Down 6.8%
The company has a current ratio of 1.74, a quick ratio of 1.73 and a debt-to-equity ratio of 1.07. The firm has a market capitalization of $16.73 billion, a price-to-earnings ratio of 12.40, a PEG ratio of 4.28 and a beta of 0.68. The stock has a fifty day moving average of $5.57 and a 200-day moving average of $76.80.
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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