Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) Shares Gap Up After Strong Earnings

Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS)’s share price gapped up before the market opened on Tuesday following a stronger than expected earnings report. The stock had previously closed at $17.22, but opened at $17.69. Companhia de Saneamento Básico do Estado de São Paulo – SABESP shares last traded at $17.74, with a volume of 122,787 shares traded.

The utilities provider reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.43. Companhia de Saneamento Básico do Estado de São Paulo – SABESP had a return on equity of 27.73% and a net margin of 25.62%. The business had revenue of $981.20 million during the quarter, compared to the consensus estimate of $6.89 billion.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP from a “buy” rating to a “hold” rating in a report on Tuesday, March 18th.

Institutional Investors Weigh In On Companhia de Saneamento Básico do Estado de São Paulo – SABESP

A number of large investors have recently added to or reduced their stakes in SBS. Ameriprise Financial Inc. grew its position in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 2.7% in the fourth quarter. Ameriprise Financial Inc. now owns 29,445 shares of the utilities provider’s stock valued at $422,000 after purchasing an additional 776 shares during the last quarter. Advisors Asset Management Inc. lifted its stake in Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 33.7% in the 3rd quarter. Advisors Asset Management Inc. now owns 3,613 shares of the utilities provider’s stock valued at $60,000 after buying an additional 911 shares in the last quarter. Quadrant Capital Group LLC grew its holdings in Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 7.9% during the 4th quarter. Quadrant Capital Group LLC now owns 12,964 shares of the utilities provider’s stock valued at $186,000 after buying an additional 950 shares during the last quarter. Rhumbline Advisers increased its position in Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 0.9% during the fourth quarter. Rhumbline Advisers now owns 125,403 shares of the utilities provider’s stock worth $1,797,000 after buying an additional 1,165 shares in the last quarter. Finally, Quantinno Capital Management LP raised its holdings in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 9.3% in the fourth quarter. Quantinno Capital Management LP now owns 14,573 shares of the utilities provider’s stock worth $209,000 after acquiring an additional 1,237 shares during the last quarter. 10.62% of the stock is owned by institutional investors and hedge funds.

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

The firm has a market capitalization of $12.13 billion, a PE ratio of 6.99 and a beta of 1.15. The company has a 50-day moving average price of $16.68 and a 200-day moving average price of $16.11. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.14 and a quick ratio of 1.13.

About Companhia de Saneamento Básico do Estado de São Paulo – SABESP

Companhia de Saneamento Basico do Estado de Sao Paulo SABESP engages in the provision of water and sewage service. It also offers advisory services on the rational use of water, planning and commercial, and financial and operational management. The company was founded on September 6, 1973 and is headquartered in São Paulo, Brazil.