Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp (NYSE:SBS) Cut to “Hold” at Zacks Research

Zacks Research downgraded 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 published on Monday morning,Zacks.com reports.

A number of other equities research analysts have also issued reports on the company. Jefferies Financial Group began coverage on Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp in a research note on Thursday, March 19th. They issued a “buy” rating and a $36.60 target price on the stock. Weiss Ratings raised Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp from a “buy (b)” rating to a “buy (a-)” rating in a research note on Tuesday, March 17th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $36.60.

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

SBS opened at $34.00 on Monday. Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp has a 1-year low of $18.09 and a 1-year high of $34.28. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.12 and a quick ratio of 1.12. The stock’s 50 day simple moving average is $29.59 and its 200 day simple moving average is $26.56. The stock has a market cap of $23.93 billion, a P/E ratio of 15.55, a P/E/G ratio of 6.69 and a beta of 0.75.

Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp (NYSE:SBS) last posted its earnings results on Saturday, February 14th. The utilities provider reported $0.71 earnings per share (EPS) for the quarter. Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp had a return on equity of 15.76% and a net margin of 23.64%.The firm had revenue of $1.03 billion for the quarter. As a group, equities analysts anticipate 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 Announces Dividend

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of SBS. Arax Advisory Partners purchased a new position in shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp during the 4th quarter worth about $26,000. Garton & Associates Financial Advisors LLC purchased a new stake in Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp in the fourth quarter valued at approximately $44,000. EverSource Wealth Advisors LLC increased its position in Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp by 246.4% during the second quarter. EverSource Wealth Advisors LLC now owns 2,342 shares of the utilities provider’s stock worth $51,000 after purchasing an additional 1,666 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp during the fourth quarter worth approximately $54,000. Finally, Atlas Capital Advisors Inc. purchased a new position in Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp during the fourth quarter worth approximately $86,000. Institutional investors and hedge funds own 10.62% of the company’s stock.

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

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.