Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) Lowered to Hold at StockNews.com

StockNews.com downgraded shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) from a buy rating to a hold rating in a research report released on Thursday.

Companhia de Saneamento Básico do Estado de São Paulo – SABESP Stock Up 1.7 %

Companhia de Saneamento Básico do Estado de São Paulo – SABESP stock opened at $17.06 on Thursday. The company has a current ratio of 1.36, a quick ratio of 1.21 and a debt-to-equity ratio of 0.61. Companhia de Saneamento Básico do Estado de São Paulo – SABESP has a 1-year low of $11.29 and a 1-year high of $18.36. The company has a fifty day simple moving average of $16.50 and a 200 day simple moving average of $15.67. The company has a market cap of $11.66 billion, a P/E ratio of 16.09 and a beta of 1.16.

Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) last announced its quarterly earnings data on Thursday, August 8th. The utilities provider reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.08. Companhia de Saneamento Básico do Estado de São Paulo – SABESP had a return on equity of 13.34% and a net margin of 15.00%. The company had revenue of $1.30 billion during the quarter. Research analysts anticipate that Companhia de Saneamento Básico do Estado de São Paulo – SABESP will post 1.06 earnings per share for the current fiscal year.

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

Several large investors have recently made changes to their positions in SBS. AGF Management Ltd. raised its position in Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 39.3% during the fourth quarter. AGF Management Ltd. now owns 62,524 shares of the utilities provider’s stock worth $952,000 after acquiring an additional 17,624 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP in the 4th quarter valued at about $258,000. Pingora Partners LLC acquired a new stake in Companhia de Saneamento Básico do Estado de São Paulo – SABESP in the 4th quarter valued at about $30,000. Qtron Investments LLC bought a new position in Companhia de Saneamento Básico do Estado de São Paulo – SABESP during the fourth quarter worth about $432,000. Finally, Banco BTG Pactual S.A. increased its position in Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 698.7% during the fourth quarter. Banco BTG Pactual S.A. now owns 905,676 shares of the utilities provider’s stock worth $13,929,000 after buying an additional 792,276 shares during the last quarter. Institutional investors and hedge funds own 10.62% of the company’s stock.

About Companhia de Saneamento Básico do Estado de São Paulo – SABESP

Companhia de Saneamento Básico do Estado de São Paulo SABESP provides basic and environmental sanitation services in the São Paulo State, Brazil. The company supplies treated water and sewage services to residential, commercial, and industrial private customers, as well as public. As of December 31, 2022, it provided water services through 10.1 million water connections; and sewage services through 8.6 million sewage connections in 375 municipalities of the São Paulo State.