Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp (NYSE:SBS) Sets New 1-Year Low – Here’s Why

Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp (NYSE:SBS)’s share price reached a new 52-week low during mid-day trading on Tuesday. The company traded as low as $4.41 and last traded at $4.3950, with a volume of 58,649 shares trading hands. The stock had previously closed at $4.52.

Analysts Set New Price Targets

Several research firms have commented on SBS. Weiss Ratings cut shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, August 21st. Zacks Research lowered Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 28th. Finally, Wall Street Zen cut shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp from a “buy” rating to a “hold” rating in a research note on Monday, August 17th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $183.00.

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

The stock’s 50-day moving average is $5.46 and its 200-day moving average is $58.06. The stock has a market cap of $15.36 billion, a price-to-earnings ratio of 12.24, a price-to-earnings-growth ratio of 3.54 and a beta of 0.67. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.47 and a quick ratio of 1.47.

Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp (NYSE:SBS) last announced its quarterly earnings results on Wednesday, August 12th. The utilities provider reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.02). Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp had a net margin of 23.93% and a return on equity of 14.03%. The company had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.23 billion. Analysts anticipate that Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp will post 0.38 EPS for the current fiscal year.

Hedge Funds Weigh In On Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp

Several hedge funds and other institutional investors have recently modified their holdings of SBS. Groupe la Francaise lifted its stake in shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp by 790.3% in the second quarter. Groupe la Francaise now owns 750,759 shares of the utilities provider’s stock worth $4,343,000 after acquiring an additional 666,437 shares in the last quarter. Raiffeisen Bank International AG grew its stake in Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp by 622.2% during the 2nd quarter. Raiffeisen Bank International AG now owns 650,000 shares of the utilities provider’s stock valued at $3,776,000 after purchasing an additional 560,000 shares in the last quarter. Gradient Investments LLC increased its holdings in Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp by 423.2% during the 2nd quarter. Gradient Investments LLC now owns 985,027 shares of the utilities provider’s stock worth $5,693,000 after purchasing an additional 796,772 shares during the last quarter. Handelsbanken Fonder AB raised its holdings in Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp by 502.2% in the second quarter. Handelsbanken Fonder AB now owns 1,149,745 shares of the utilities provider’s stock valued at $6,646,000 after acquiring an additional 958,808 shares in the last quarter. Finally, Nykredit A S acquired a new stake in shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp in the 2nd quarter valued at about $1,112,000. 10.62% of the stock is owned by institutional investors and hedge funds.

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

Companhia de Saneamento Básico do Estado de São Paulo, known as Sabesp, is a Brazilian water and sanitation company headquartered in São Paulo. Established in 1973, the company provides essential public-utility services, including the production, treatment and distribution of drinking water and the collection and treatment of wastewater.

Sabesp serves municipalities across the state of São Paulo, with a significant presence in the São Paulo metropolitan area and other urban and regional communities.