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

Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS – Get Free Report) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Wednesday.

Companhia de Saneamento Básico do Estado de São Paulo – SABESP Stock of 0.9%

Shares of SBS stock opened at $17.14 on Wednesday. The stock has a market cap of $11.72 billion, a P/E ratio of 16.17 and a beta of 1.16. The company has a fifty day simple moving average of $16.16 and a two hundred day simple moving average of $15.64. The company has a quick ratio of 1.21, a current ratio of 1.23, and a debt-to-equity ratio of 0.63. Companhia de Saneamento Básico do Estado de São Paulo – SABESP has a 52-week low of $11.29 and a 52-week high of $18.36.

Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS – Get Free Report ) last announced its quarterly earnings results on Thursday, August 8th. The utilities provider reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.08. Companhia de Saneamento Básico do Estado de São Paulo – SABESP had a return on equity of 13.35% and a net margin of 15.00%. The company had revenue of $1.30 billion during the quarter. analysts forecast that Companhia de Saneamento Básico do Estado de São Paulo – SABESP will post 1.06 EPS for the current fiscal year.

Institutional investors intervene in Companhia de Saneamento Básico do Estado de São Paulo – SABESP

A number of hedge funds have recently bought and sold shares of SBS. Pingora Partners LLC acquired a new position in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP in the 4th quarter worth $30,000. Summit Securities Group LLC bought a new stake in Companhia de Saneamento Básico do Estado de São Paulo – SABESP in the second quarter valued at about $95,000. Point72 Asia Singapore Pte. Ltd. raised its position in Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 55.6% in the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 9,305 shares of the utilities provider’s stock valued at $125,000 after buying an additional 3,324 shares during the period. First Trust Direct Indexing LP bought a new stake in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP in the 4th quarter valued at about $152,000. Finally, First Affirmative Financial Network acquired a new position in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP in the first quarter worth about $170,000. Hedge funds and other institutional investors own 10.62% of the company’s shares.

Companhia de Saneamento Básico do Estado de São Paulo – SABESP company profile

(Get a free report)

Companhia de Saneamento Básico do Estado de São Paulo SABESP provides basic and environmental sanitation services in the state of São Paulo, Brazil. The company provides treated water and sewage services to private residential, commercial and industrial customers, as well as the public. As of December 31, 2022, it provided water services through 10.1 million water connections; and sewerage services through 8.6 million sewer connections in 375 municipalities in the state of São Paulo.

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