Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) Shares Gap Up After Better-Than-Expected Earnings

Shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) gapped up prior to trading on Tuesday following a better than expected earnings announcement. The stock had previously closed at $17.22, but opened at $17.69. Companhia de Saneamento Básico do Estado de São Paulo – SABESP shares last traded at $17.74, with a volume of 122,787 shares changing hands.

The utilities provider reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.43. Companhia de Saneamento Básico do Estado de São Paulo – SABESP had a return on equity of 27.73% and a net margin of 25.62%. The company had revenue of $981.20 million during the quarter, compared to the consensus estimate of $6.89 billion.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP from a “buy” rating to a “hold” rating in a report on Tuesday, March 18th.

Institutional Investors Weigh In On Companhia de Saneamento Básico do Estado de São Paulo – SABESP

Several large investors have recently modified their holdings of the stock. Amundi grew its position in Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 6.7% in the fourth quarter. Amundi now owns 6,752,801 shares of the utilities provider’s stock valued at $96,732,000 after acquiring an additional 426,669 shares during the period. Deutsche Bank AG lifted its holdings in Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 55.1% during the 4th quarter. Deutsche Bank AG now owns 6,234,236 shares of the utilities provider’s stock valued at $89,337,000 after purchasing an additional 2,213,846 shares during the last quarter. Renaissance Technologies LLC boosted its position in Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 2.0% in the fourth quarter. Renaissance Technologies LLC now owns 1,730,495 shares of the utilities provider’s stock valued at $24,798,000 after buying an additional 33,200 shares in the last quarter. Duff & Phelps Investment Management Co. grew its stake in Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 7.7% during the third quarter. Duff & Phelps Investment Management Co. now owns 1,578,147 shares of the utilities provider’s stock worth $26,103,000 after buying an additional 113,147 shares during the last quarter. Finally, First Trust Advisors LP increased its holdings in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 1.9% during the fourth quarter. First Trust Advisors LP now owns 1,401,173 shares of the utilities provider’s stock worth $20,079,000 after buying an additional 26,125 shares in the last quarter. 10.62% of the stock is currently owned by institutional investors.

Companhia de Saneamento Básico do Estado de São Paulo – SABESP Stock Down 0.6 %

The company has a market cap of $12.13 billion, a P/E ratio of 6.99 and a beta of 1.15. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.14 and a quick ratio of 1.13. The business’s 50 day moving average price is $16.68 and its 200-day moving average price is $16.11.

Companhia de Saneamento Básico do Estado de São 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.