Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp (NYSE:SBS) Shares Gap Down – Here’s Why

Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp (NYSE:SBS)’s stock price gapped down prior to trading on Monday. The stock had previously closed at $6.40, but opened at $5.27. Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp shares last traded at $4.7940, with a volume of 6,601,434 shares traded.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on SBS shares. Zacks Research lowered Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 28th. Weiss Ratings lowered Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, August 21st. Finally, Wall Street Zen cut 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 issued a Hold rating to the company’s stock. Based on data from MarketBeat, Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp currently has an average rating of “Moderate Buy” and a consensus target price of $183.00.

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

The company’s 50-day moving average price is $5.47 and its two-hundred day moving average price is $26.23. The company has a market cap of $16.59 billion, a P/E ratio of 13.39, a P/E/G ratio of 4.90 and a beta of 0.67. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 1.02.

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

Institutional Investors Weigh In On Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp

Several hedge funds and other institutional investors have recently bought and sold shares of the business. WCM Investment Management LLC raised its stake in shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp by 396.7% during the 1st quarter. WCM Investment Management LLC now owns 2,198,987 shares of the utilities provider’s stock worth $64,716,000 after purchasing an additional 1,756,304 shares in the last quarter. Kapitalo Investimentos Ltda lifted its holdings in shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp by 1,506.4% during the 3rd quarter. Kapitalo Investimentos Ltda now owns 1,552,893 shares of the utilities provider’s stock valued at $8,246,000 after buying an additional 1,456,225 shares during the last quarter. Handelsbanken Fonder AB grew its stake in shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp by 502.2% in the 2nd quarter. Handelsbanken Fonder AB now owns 1,149,745 shares of the utilities provider’s stock valued at $6,646,000 after buying an additional 958,808 shares in the last quarter. Gradient Investments LLC grew its stake in shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp by 423.2% in the 2nd quarter. Gradient Investments LLC now owns 985,027 shares of the utilities provider’s stock valued at $5,693,000 after buying an additional 796,772 shares in the last quarter. Finally, Banque Pictet & Cie SA acquired a new position in Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp in the third quarter worth approximately $4,165,000. 10.62% of the stock is currently owned by institutional investors.

About Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp

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.