Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) Shares Gap Up – Time to Buy?

Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) shares gapped up before the market opened on Monday . The stock had previously closed at $15.23, but opened at $15.80. Companhia de Saneamento Básico do Estado de São Paulo – SABESP shares last traded at $15.80, with a volume of 51,783 shares traded.

Wall Street Analysts Forecast Growth

SBS has been the subject of a number of research reports. The Goldman Sachs Group raised shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP to a “strong-buy” rating in a research note on Sunday, October 6th. StockNews.com lowered shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP from a “buy” rating to a “hold” rating in a research note on Thursday, September 12th.

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

The business has a 50 day moving average price of $16.59 and a two-hundred day moving average price of $15.76. The stock has a market cap of $10.81 billion, a P/E ratio of 12.91 and a beta of 1.16. The company has a quick ratio of 1.35, a current ratio of 1.36 and a debt-to-equity ratio of 0.61.

Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) last issued its earnings results on Thursday, August 8th. The utilities provider reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.08. 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%. The firm had revenue of $1.30 billion for the quarter. On average, sell-side analysts forecast that Companhia de Saneamento Básico do Estado de São Paulo – SABESP will post 1.13 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in SBS. Allspring Global Investments Holdings LLC bought a new stake in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP in the 3rd quarter worth about $45,000. Summit Securities Group LLC purchased a new stake in Companhia de Saneamento Básico do Estado de São Paulo – SABESP in the 2nd quarter worth about $95,000. Point72 Asia Singapore Pte. Ltd. lifted its stake in Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 55.6% in the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 9,305 shares of the utilities provider’s stock worth $125,000 after purchasing an additional 3,324 shares during the last quarter. First Affirmative Financial Network grew its stake 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 last quarter. Finally, Vanguard Personalized Indexing Management LLC purchased a new stake in Companhia de Saneamento Básico do Estado de São Paulo – SABESP in the second quarter worth $155,000. Institutional investors own 10.62% of the company’s stock.

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

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.