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

StockNews.com upgraded shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) from a hold rating to a buy rating in a research report sent to investors on Wednesday morning.

Companhia de Saneamento Básico do Estado de São Paulo – SABESP Stock Down 1.1 %

Shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP stock opened at $16.95 on Wednesday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.21 and a current ratio of 1.23. The company has a 50-day simple moving average of $16.23 and a two-hundred day simple moving average of $15.65. 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. The stock has a market capitalization of $11.58 billion, a PE ratio of 15.99 and a beta of 1.16.

Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) last released its quarterly earnings data on Thursday, August 8th. The utilities provider reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.08. Companhia de Saneamento Básico do Estado de São Paulo – SABESP had a net margin of 15.00% and a return on equity of 13.35%. The firm had revenue of $1.30 billion during the quarter. On average, analysts anticipate that Companhia de Saneamento Básico do Estado de São Paulo – SABESP will post 1.06 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. QRG Capital Management Inc. raised its holdings in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 7.2% during the first quarter. QRG Capital Management Inc. now owns 11,664 shares of the utilities provider’s stock valued at $196,000 after purchasing an additional 780 shares during the last quarter. First Affirmative Financial Network raised its holdings in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 10.6% during the second quarter. First Affirmative Financial Network now owns 11,165 shares of the utilities provider’s stock valued at $150,000 after purchasing an additional 1,069 shares during the last quarter. Sequoia Financial Advisors LLC grew its position in Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 9.8% during the first quarter. Sequoia Financial Advisors LLC now owns 14,832 shares of the utilities provider’s stock valued at $250,000 after buying an additional 1,319 shares during the period. Russell Investments Group Ltd. grew its position in Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 3.3% during the first quarter. Russell Investments Group Ltd. now owns 53,214 shares of the utilities provider’s stock valued at $896,000 after buying an additional 1,702 shares during the period. Finally, Acadian Asset Management LLC grew its position in Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 6.2% during the second quarter. Acadian Asset Management LLC now owns 29,706 shares of the utilities provider’s stock valued at $399,000 after buying an additional 1,728 shares during the period. 10.62% of the stock is owned by hedge funds and other institutional investors.

Companhia de Saneamento Básico do Estado de São Paulo – SABESP Company Profile

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