Companhia de Saneamento Básico do Estado de São Paulo - SABESP (NYSE:SBS) Shares Gap Up - Still a Buy?

Companhia de Saneamento Básico do Estado de São Paulo - SABESP (NYSE:SBS - Get Free Report)'s stock price gapped up before the market opened on Thursday . The stock had previously closed at $17.92, but opened at $18.61. Companhia de Saneamento Básico do Estado de São Paulo - SABESP shares last traded at $18.78, with a volume of 158,628 shares traded.

Analyst Ratings Changes

Separately, StockNews.com raised Companhia de Saneamento Básico do Estado de São Paulo - SABESP from a "hold" rating to a "buy" rating in a research note on Tuesday, April 1st.

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

The company has a market cap of $11.56 billion, a P/E ratio of 6.65 and a beta of 0.77. The firm's 50-day moving average is $17.05 and its two-hundred day moving average is $16.14. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.14 and a quick ratio of 1.13.

Companhia de Saneamento Básico do Estado de São Paulo - SABESP (NYSE:SBS - Get Free Report) last posted its earnings results on Monday, March 24th. The utilities provider reported $0.49 earnings per share for the quarter, topping analysts' consensus estimates of $0.06 by $0.43. The firm had revenue of $981.20 million for the quarter, compared to the consensus estimate of $6.89 billion. Companhia de Saneamento Básico do Estado de São Paulo - SABESP had a net margin of 25.62% and a return on equity of 27.73%. Analysts anticipate that Companhia de Saneamento Básico do Estado de São Paulo - SABESP will post 2.17 earnings per share for the current year.

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Hedge Funds Weigh In On Companhia de Saneamento Básico do Estado de São Paulo - SABESP

Hedge funds have recently added to or reduced their stakes in the stock. Amundi increased its holdings in Companhia de Saneamento Básico do Estado de São Paulo - SABESP by 6.7% during the 4th quarter. Amundi now owns 6,752,801 shares of the utilities provider's stock worth $96,732,000 after purchasing an additional 426,669 shares during the period. Deutsche Bank AG increased its stake in shares of Companhia de Saneamento Básico do Estado de São Paulo - SABESP by 55.1% during the fourth quarter. Deutsche Bank AG now owns 6,234,236 shares of the utilities provider's stock valued at $89,337,000 after buying an additional 2,213,846 shares during the period. Renaissance Technologies LLC raised its holdings in shares of Companhia de Saneamento Básico do Estado de São Paulo - SABESP by 2.0% in the fourth quarter. Renaissance Technologies LLC now owns 1,730,495 shares of the utilities provider's stock valued at $24,798,000 after acquiring an additional 33,200 shares in the last quarter. Duff & Phelps Investment Management Co. lifted its stake in Companhia de Saneamento Básico do Estado de São Paulo - SABESP by 7.7% in the third quarter. Duff & Phelps Investment Management Co. now owns 1,578,147 shares of the utilities provider's stock worth $26,103,000 after acquiring an additional 113,147 shares during the period. Finally, First Trust Advisors LP grew its holdings in Companhia de Saneamento Básico do Estado de São Paulo - SABESP by 1.9% during the 4th quarter. First Trust Advisors LP now owns 1,401,173 shares of the utilities provider's stock worth $20,079,000 after acquiring an additional 26,125 shares in the last quarter. 10.62% of the stock is currently owned by institutional investors.

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.