Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) Rating Increased to Strong-Buy at The Goldman Sachs Group

Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) was upgraded by equities research analysts at The Goldman Sachs Group to a “strong-buy” rating in a research note issued on Sunday, Zacks.com reports.

Separately, StockNews.com downgraded Companhia de Saneamento Básico do Estado de São Paulo – SABESP from a “buy” rating to a “hold” rating in a research report on Thursday, September 12th.

Companhia de Saneamento Básico do Estado de São Paulo – SABESP Price Performance

SBS stock opened at $16.34 on Friday. Companhia de Saneamento Básico do Estado de São Paulo – SABESP has a 52-week low of $11.46 and a 52-week high of $18.36. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.35 and a current ratio of 1.36. The business has a 50-day simple moving average of $16.99 and a two-hundred day simple moving average of $15.80. The company has a market capitalization of $11.17 billion, a P/E ratio of 15.42 and a beta of 1.16.

Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) last announced its earnings results on Thursday, August 8th. The utilities provider reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.08. The firm had revenue of $1.30 billion for the quarter. Companhia de Saneamento Básico do Estado de São Paulo – SABESP had a return on equity of 13.34% and a net margin of 15.00%. Research analysts expect that Companhia de Saneamento Básico do Estado de São Paulo – SABESP will post 1.13 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Summit Securities Group LLC purchased a new position in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP in the second quarter valued at $95,000. Point72 Asia Singapore Pte. Ltd. grew its holdings in Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 55.6% during the 2nd 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 in the last quarter. First Affirmative Financial Network increased its position 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 buying an additional 1,069 shares during the period. Vanguard Personalized Indexing Management LLC purchased a new stake in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP in the second quarter worth about $155,000. Finally, QRG Capital Management Inc. lifted its holdings in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 7.2% in the first quarter. QRG Capital Management Inc. now owns 11,664 shares of the utilities provider’s stock worth $196,000 after buying an additional 780 shares in the last quarter. 10.62% of the stock is currently 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.