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 - Get Free Report)'s stock price 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.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on SBS. StockNews.com downgraded shares of Companhia de Saneamento Básico do Estado de São Paulo - SABESP from a "buy" rating to a "hold" rating in a research report on Thursday, September 12th. The Goldman Sachs Group raised Companhia de Saneamento Básico do Estado de São Paulo - SABESP to a "strong-buy" rating in a report on Sunday, October 6th.

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

The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.35 and a current ratio of 1.36. The stock's fifty day moving average is $16.59 and its two-hundred day moving average is $15.76. The firm has a market cap of $10.75 billion, a price-to-earnings ratio of 12.91 and a beta of 1.16.

Companhia de Saneamento Básico do Estado de São Paulo - SABESP (NYSE:SBS - Get Free Report) last issued its quarterly earnings data on Thursday, August 8th. The utilities provider reported $0.34 earnings per share for the quarter, beating analysts' consensus estimates of $0.26 by $0.08. The business had revenue of $1.30 billion for the quarter. Companhia de Saneamento Básico do Estado de São Paulo - SABESP had a net margin of 15.00% and a return on equity of 13.34%. On average, analysts expect 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

Several institutional investors and hedge funds have recently made changes to their positions in SBS. Allspring Global Investments Holdings LLC bought a new stake in Companhia de Saneamento Básico do Estado de São Paulo - SABESP in the third quarter worth about $45,000. Summit Securities Group LLC bought a new stake in shares of Companhia de Saneamento Básico do Estado de São Paulo - SABESP in the 2nd quarter worth approximately $95,000. Point72 Asia Singapore Pte. Ltd. lifted its stake in Companhia de Saneamento Básico do Estado de São Paulo - SABESP by 55.6% during the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 9,305 shares of the utilities provider's stock valued at $125,000 after purchasing an additional 3,324 shares during the last quarter. Inspire Advisors LLC bought a new stake in Companhia de Saneamento Básico do Estado de São Paulo - SABESP during the third quarter worth approximately $166,000. Finally, Atomi Financial Group Inc. acquired a new position in Companhia de Saneamento Básico do Estado de São Paulo - SABESP in the third quarter worth approximately $176,000. 10.62% of the stock is currently owned by institutional investors.

Companhia de Saneamento Básico do Estado de São Paulo - SABESP Company Profile

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.