Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp (NYSE:SBS) Shares Gap Down – Time to Sell?

Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp (NYSE:SBS) gapped down before the market opened on Monday. The stock had previously closed at $6.40, but opened at $5.27. Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp shares last traded at $4.7940, with a volume of 6,601,434 shares.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on SBS shares. Zacks Research cut Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 28th. Weiss Ratings cut shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, August 21st. Finally, Wall Street Zen downgraded shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp from a “buy” rating to a “hold” rating in a research report on Monday, August 17th. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $183.00.

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

The firm has a market capitalization of $16.73 billion, a PE ratio of 13.33 and a beta of 0.67. The company has a fifty day moving average of $5.46 and a 200-day moving average of $60.36.

Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp (NYSE:SBS) last issued its earnings results on Wednesday, August 12th. The utilities provider reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.02). The business had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.23 billion. Equities analysts anticipate that Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp will post 0.38 EPS for the current year.

Hedge Funds Weigh In On Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SBS. GAMMA Investing LLC grew its position in Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp by 430.6% in the second quarter. GAMMA Investing LLC now owns 8,341 shares of the utilities provider’s stock worth $48,000 after acquiring an additional 6,769 shares in the last quarter. Dynamic Advisor Solutions LLC bought a new position in shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp during the 2nd quarter valued at $61,000. Rehmann Capital Advisory Group acquired a new stake in shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp in the 2nd quarter valued at $67,000. Plan A Wealth LLC acquired a new stake in shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp in the 2nd quarter valued at $68,000. Finally, Greenspring Advisors LLC bought a new stake in Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp in the second quarter worth $74,000. Institutional investors own 10.62% of the company’s stock.

About Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp

Companhia de Saneamento Básico do Estado de São Paulo, known as Sabesp, is a Brazilian water and sanitation company headquartered in São Paulo. Established in 1973, the company provides essential public-utility services, including the production, treatment and distribution of drinking water and the collection and treatment of wastewater.

Sabesp serves municipalities across the state of São Paulo, with a significant presence in the São Paulo metropolitan area and other urban and regional communities.