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) shares gapped up before the market opened on Tuesday after the company announced better than expected quarterly earnings. 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 changing hands.

The utilities provider reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.43. 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%. The firm had revenue of $981.20 million during the quarter, compared to analysts’ expectations of $6.89 billion.

Analyst Ratings Changes

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in SBS. SBI Securities Co. Ltd. acquired a new stake in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP during the 4th quarter worth approximately $26,000. J.Safra Asset Management Corp bought a new stake in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP during the 4th quarter valued at $54,000. Advisors Asset Management Inc. raised its position in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 33.7% during the 3rd quarter. Advisors Asset Management Inc. now owns 3,613 shares of the utilities provider’s stock valued at $60,000 after acquiring an additional 911 shares during the last quarter. R Squared Ltd bought a new position in shares of Companhia de Saneamento Básico do Estado de São Paulo – SABESP in the 4th quarter worth $66,000. Finally, Signaturefd LLC increased its holdings in Companhia de Saneamento Básico do Estado de São Paulo – SABESP by 25.9% in the fourth quarter. Signaturefd LLC now owns 9,305 shares of the utilities provider’s stock valued at $133,000 after purchasing an additional 1,917 shares during the last quarter. 10.62% of the stock is currently owned by institutional investors and hedge funds.

Companhia de Saneamento Básico do Estado de São Paulo – SABESP Stock Down 0.6 %

The stock has a market cap of $12.13 billion, a price-to-earnings ratio of 6.99 and a beta of 1.15. The firm has a 50 day simple moving average of $16.68 and a two-hundred day simple moving average 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.