Jefferies Financial Group Initiates Coverage on Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp (NYSE:SBS)

Research analysts at Jefferies Financial Group assumed coverage on shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp (NYSE:SBS) in a research note issued to investors on Thursday, MarketBeat reports. The brokerage set a “buy” rating and a $36.60 price target on the utilities provider’s stock. Jefferies Financial Group’s price target points to a potential upside of 29.99% from the company’s current price.

Several other research analysts also recently weighed in on the stock. Weiss Ratings upgraded shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp from a “buy (b)” rating to a “buy (a-)” rating in a report on Tuesday. Zacks Research upgraded shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 11th. Two equities research analysts have rated the stock with a Strong Buy rating and one has assigned a Buy rating to the stock. According to MarketBeat, the company has an average rating of “Strong Buy” and a consensus target price of $36.60.

Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp Stock Performance

Shares of SBS opened at $28.16 on Thursday. Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp has a one year low of $16.52 and a one year high of $30.63. The company has a market cap of $19.81 billion, a PE ratio of 12.87, a P/E/G ratio of 5.61 and a beta of 0.78. The stock has a 50-day moving average of $27.41 and a 200-day moving average of $25.56. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.17 and a quick ratio of 1.17.

Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp (NYSE:SBS) last posted its quarterly earnings results on Tuesday, March 17th. The utilities provider reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.06. The business had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.08 billion. Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp had a return on equity of 15.83% and a net margin of 23.64%. On average, equities research analysts predict that Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp will post 2.17 EPS for the current fiscal year.

Institutional Trading of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp

Institutional investors have recently made changes to their positions in the stock. Osaic Holdings Inc. grew its stake in shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp by 2,540.8% in the second quarter. Osaic Holdings Inc. now owns 56,724 shares of the utilities provider’s stock worth $1,246,000 after acquiring an additional 54,576 shares during the period. Envestnet Asset Management Inc. boosted its holdings in Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp by 112.1% during the 3rd quarter. Envestnet Asset Management Inc. now owns 187,629 shares of the utilities provider’s stock valued at $4,670,000 after acquiring an additional 99,181 shares during the period. Exchange Traded Concepts LLC bought a new position in Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp in the 3rd quarter worth about $1,731,000. WCM Investment Management LLC increased its stake in shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp by 16.9% during the third quarter. WCM Investment Management LLC now owns 251,339 shares of the utilities provider’s stock valued at $6,150,000 after buying an additional 36,315 shares during the period. Finally, Quantbot Technologies LP bought a new stake in Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp during the 3rd quarter valued at $2,130,000. Hedge funds and other institutional investors own 10.62% of the company’s stock.

Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp Company Profile

Companhia de Saneamento Básico do Estado de São Paulo (SABESP) is a Brazilian utility that provides water supply and wastewater collection and treatment services. As the principal sanitation company serving the state of São Paulo, SABESP operates a wide range of infrastructure spanning water capture, treatment plants, distribution networks and sewage systems. The company’s activities support residential, commercial and industrial customers and are focused on delivering potable water, ensuring water quality and expanding access to sanitation services.

SABESP’s service offering includes the operation and maintenance of water treatment and sewage treatment facilities, network expansion and rehabilitation, meter reading and billing, customer service and environmental programs aimed at improving sewage treatment rates and protecting water resources.