Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) Shares Gap Up – Here’s Why

Shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) gapped up before the market opened on Thursday . The stock had previously closed at $17.92, but opened at $18.61. Companhia de Saneamento Básico do Estado de São Paulo – SABESP shares last traded at $18.78, with a volume of 158,628 shares changing hands.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP from a “hold” rating to a “buy” rating in a research note on Tuesday.

Companhia de Saneamento Básico do Estado de São Paulo – SABESP Stock Performance

The business has a 50-day simple moving average of $16.94 and a 200 day simple moving average of $16.15. 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 firm has a market cap of $12.78 billion, a PE ratio of 7.36 and a beta of 1.15.

Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) last released its earnings results on Monday, March 24th. The utilities provider reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.43. The company had revenue of $981.20 million during the quarter, compared to analyst estimates of $6.89 billion. Companhia de Saneamento Básico do Estado de São Paulo – SABESP had a net margin of 25.62% and a return on equity of 27.73%. Equities research analysts forecast that Companhia de Saneamento Básico do Estado de São Paulo – SABESP will post 2.17 EPS for the current year.

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

A number of institutional investors and hedge funds have recently bought and sold shares of SBS. SBI Securities Co. Ltd. purchased a new stake in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP during the fourth quarter worth about $26,000. J.Safra Asset Management Corp bought a new position in Companhia de Saneamento Básico do Estado de São Paulo – SABESP in the 4th quarter worth approximately $54,000. R Squared Ltd bought a new position in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP during the fourth quarter worth $66,000. Signaturefd LLC grew its stake in Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 25.9% during the fourth quarter. Signaturefd LLC now owns 9,305 shares of the utilities provider’s stock valued at $133,000 after acquiring an additional 1,917 shares in the last quarter. Finally, Anchor Pointe Wealth Management LLC purchased a new stake in Companhia de Saneamento Básico do Estado de São Paulo – SABESP in the 4th quarter worth $144,000. 10.62% of the stock is owned by institutional investors.

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

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.