Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp (NYSE:SBS) Hits New 12-Month High After Earnings Beat

Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp (NYSE:SBS)’s share price reached a new 52-week high on Tuesday after the company announced better than expected quarterly earnings. The company traded as high as $26.08 and last traded at $25.77, with a volume of 1046048 shares traded. The stock had previously closed at $25.69.

The utilities provider reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.27. The firm had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.07 billion. Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp had a net margin of 29.64% and a return on equity of 29.34%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Weiss Ratings restated a “buy (b)” rating on shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp in a research note on Wednesday, October 8th. Zacks Research raised 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 Tuesday, September 2nd. One analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Strong Buy”.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of SBS. Cerity Partners LLC purchased a new position in Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp in the 1st quarter worth $288,000. Advisors Preferred LLC bought a new position in shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp during the first quarter valued at about $284,000. Assetmark Inc. increased its holdings in shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp by 1.2% in the first quarter. Assetmark Inc. now owns 726,980 shares of the utilities provider’s stock worth $12,984,000 after buying an additional 8,821 shares during the period. Banque Cantonale Vaudoise bought a new stake in shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp in the 1st quarter valued at about $44,000. Finally, US Bancorp DE lifted its position in Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp by 27.6% in the first quarter. US Bancorp DE now owns 17,469 shares of the utilities provider’s stock valued at $312,000 after purchasing an additional 3,775 shares during the last quarter. 10.62% of the stock is currently owned by institutional investors.

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

The stock has a market cap of $18.24 billion, a PE ratio of 9.23 and a beta of 0.82. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.26 and a quick ratio of 1.26. The business has a 50 day moving average price of $24.15 and a two-hundred day moving average price of $21.91.

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

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.