Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp (NYSE:SBS) Downgraded to Hold Rating by Zacks Research

Zacks Research cut shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp (NYSE:SBS) from a strong-buy rating to a hold rating in a report issued on Monday,Zacks.com reports.

Other research analysts also recently issued reports about the stock. Jefferies Financial Group assumed coverage on shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp in a research report on Thursday, March 19th. They set a “buy” rating and a $36.60 price objective for the company. Weiss Ratings upgraded shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp from a “buy (b)” rating to a “buy (a-)” rating in a research report on Tuesday, March 17th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp has an average rating of “Buy” and an average target price of $36.60.

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

Shares of NYSE SBS traded down $0.18 during midday trading on Monday, reaching $33.62. The company’s stock had a trading volume of 219,136 shares, compared to its average volume of 1,344,522. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.12 and a current ratio of 1.12. Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp has a fifty-two week low of $18.09 and a fifty-two week high of $34.28. The business’s 50 day moving average price is $29.46 and its two-hundred day moving average price is $26.51. The company has a market cap of $23.66 billion, a P/E ratio of 15.34, a P/E/G ratio of 6.67 and a beta of 0.75.

Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp (NYSE:SBS) last released its quarterly earnings results on Saturday, February 14th. The utilities provider reported $0.71 earnings per share for the quarter. Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp had a net margin of 23.64% and a return on equity of 15.76%. The company had revenue of $1.03 billion during the quarter. On average, analysts forecast that Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp will post 2.17 EPS for the current fiscal year.

Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp Dividend Announcement

The business also recently declared a special dividend, which will be paid on Monday, May 11th. Stockholders of record on Friday, March 27th will be issued a dividend of $0.4772 per share. The ex-dividend date is Friday, March 27th. This represents a dividend yield of 55.0%. Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp’s dividend payout ratio is 4.57%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SBS. Jane Street Group LLC increased its holdings in shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp by 349.0% during the first quarter. Jane Street Group LLC now owns 152,113 shares of the utilities provider’s stock worth $2,717,000 after buying an additional 118,237 shares in the last quarter. Cetera Investment Advisers increased its holdings in shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp by 23.5% during the second quarter. Cetera Investment Advisers now owns 12,516 shares of the utilities provider’s stock worth $275,000 after buying an additional 2,383 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp by 17.9% during the second quarter. JPMorgan Chase & Co. now owns 60,488 shares of the utilities provider’s stock worth $1,329,000 after buying an additional 9,169 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp by 18.4% during the second quarter. Russell Investments Group Ltd. now owns 50,001 shares of the utilities provider’s stock worth $1,099,000 after buying an additional 7,755 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp by 22.6% during the second quarter. Invesco Ltd. now owns 1,002,308 shares of the utilities provider’s stock worth $22,021,000 after buying an additional 184,486 shares in the last quarter. 10.62% of the stock is currently owned by institutional investors and hedge funds.

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

Companhia de Saneamento Básico do Estado de São Paulo (SABESP) is a Brazilian utility that provides water supply and wastewater collection and treatment services. As the principal sanitation company serving the state of São Paulo, SABESP operates a wide range of infrastructure spanning water capture, treatment plants, distribution networks and sewage systems. The company’s activities support residential, commercial and industrial customers and are focused on delivering potable water, ensuring water quality and expanding access to sanitation services.

SABESP’s service offering includes the operation and maintenance of water treatment and sewage treatment facilities, network expansion and rehabilitation, meter reading and billing, customer service and environmental programs aimed at improving sewage treatment rates and protecting water resources.