Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) Raised to “Buy” at StockNews.com

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

Companhia de Saneamento Básico do Estado de São Paulo – SABESP Stock Down 1.1 %

SBS opened at $16.95 on Wednesday. Companhia de Saneamento Básico do Estado de São Paulo – SABESP has a 12 month low of $11.29 and a 12 month high of $18.36. The company has a current ratio of 1.23, a quick ratio of 1.21 and a debt-to-equity ratio of 0.63. The company has a market cap of $11.58 billion, a PE ratio of 15.99 and a beta of 1.16. The company has a 50 day moving average of $16.23 and a 200 day moving average of $15.65.

Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) last posted its earnings results on Thursday, August 8th. The utilities provider reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.08. Companhia de Saneamento Básico do Estado de São Paulo – SABESP had a net margin of 15.00% and a return on equity of 13.35%. The business had revenue of $1.30 billion for the quarter. On average, sell-side analysts expect that Companhia de Saneamento Básico do Estado de São Paulo – SABESP will post 1.06 EPS for the current year.

Institutional Trading of Companhia de Saneamento Básico do Estado de São Paulo – SABESP

Several institutional investors and hedge funds have recently made changes to their positions in SBS. Pingora Partners LLC purchased a new position in Companhia de Saneamento Básico do Estado de São Paulo – SABESP in the 4th quarter worth $30,000. Summit Securities Group LLC purchased a new position in Companhia de Saneamento Básico do Estado de São Paulo – SABESP during the 2nd quarter valued at about $95,000. Point72 Asia Singapore Pte. Ltd. lifted its position in Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 55.6% during the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 9,305 shares of the utilities provider’s stock valued at $125,000 after acquiring an additional 3,324 shares during the period. First Affirmative Financial Network lifted its position in Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 10.6% during the 2nd quarter. First Affirmative Financial Network now owns 11,165 shares of the utilities provider’s stock valued at $150,000 after acquiring an additional 1,069 shares during the period. Finally, First Trust Direct Indexing L.P. purchased a new position in Companhia de Saneamento Básico do Estado de São Paulo – SABESP in the fourth quarter worth about $152,000. Hedge funds and other institutional investors own 10.62% of the company’s stock.

Companhia de Saneamento Básico do Estado de São Paulo – SABESP Company Profile

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.