Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) Stock Rating Lowered by StockNews.com

Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Thursday.

Companhia de Saneamento Básico do Estado de São Paulo – SABESP Stock Down 1.8 %

Shares of SBS stock opened at $16.81 on Thursday. The stock’s fifty day moving average price is $16.36 and its 200 day moving average price is $15.65. 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 market cap of $11.49 billion, a price-to-earnings ratio of 15.85 and a beta of 1.16. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.23 and a quick ratio of 1.21.

Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) last posted its quarterly earnings data on Thursday, August 8th. The utilities provider reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.08. The firm had revenue of $1.30 billion for the quarter. 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%. On average, research analysts expect that Companhia de Saneamento Básico do Estado de São Paulo – SABESP will post 1.06 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Companhia de Saneamento Básico do Estado de São Paulo – SABESP

Hedge funds have recently made changes to their positions in the company. QRG Capital Management Inc. grew its stake in Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 7.2% during the 1st quarter. QRG Capital Management Inc. now owns 11,664 shares of the utilities provider’s stock valued at $196,000 after purchasing an additional 780 shares during the last quarter. First Affirmative Financial Network increased its holdings in Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 10.6% in the 2nd quarter. First Affirmative Financial Network now owns 11,165 shares of the utilities provider’s stock worth $150,000 after buying an additional 1,069 shares during the period. Sequoia Financial Advisors LLC raised its position in Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 9.8% during the 1st quarter. Sequoia Financial Advisors LLC now owns 14,832 shares of the utilities provider’s stock worth $250,000 after buying an additional 1,319 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 3.3% during the 1st quarter. Russell Investments Group Ltd. now owns 53,214 shares of the utilities provider’s stock valued at $896,000 after acquiring an additional 1,702 shares during the period. Finally, Acadian Asset Management LLC boosted its holdings in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 6.2% in the 2nd quarter. Acadian Asset Management LLC now owns 29,706 shares of the utilities provider’s stock valued at $399,000 after acquiring an additional 1,728 shares during the last quarter. 10.62% of the stock is owned by institutional investors and hedge funds.

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.