Sabesp (SBS) Cut to “Neutral” at Goldman Sachs

Sabesp (NYSE:SBS) was downgraded by stock analysts at Goldman Sachs from a “buy” rating to a “neutral” rating in a report issued on Friday, The Fly reports.

SBS has been the topic of several other reports. Zacks Investment Research upgraded shares of Sabesp from a “sell” rating to a “hold” rating in a research report on Monday, January 22nd. ValuEngine downgraded shares of Sabesp from a “hold” rating to a “sell” rating in a report on Friday, May 11th. JPMorgan Chase downgraded shares of Sabesp from an “overweight” rating to a “neutral” rating in a report on Wednesday, April 4th. Janney Montgomery Scott downgraded shares of Sabesp from a “buy” rating to a “neutral” rating in a report on Monday, March 12th. Finally, Citigroup upgraded shares of Sabesp from a “sell” rating to a “neutral” rating in a report on Monday. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the stock. Sabesp has an average rating of “Hold”.

Shares of Sabesp opened at $7.46 on Friday, according to MarketBeat Ratings. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.94 and a current ratio of 1.07. The stock has a market cap of $5.15 billion, a PE ratio of 6.43 and a beta of 1.81. Sabesp has a 12-month low of $7.46 and a 12-month high of $7.57.

Sabesp (NYSE:SBS) last announced its earnings results on Tuesday, March 27th. The utilities provider reported $0.28 earnings per share (EPS) for the quarter. The firm had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.07 billion. Sabesp had a net margin of 16.48% and a return on equity of 13.98%. sell-side analysts expect that Sabesp will post 1.05 EPS for the current year.

A number of large investors have recently modified their holdings of the stock. Impax Asset Management LTD grew its holdings in Sabesp by 19.0% during the 4th quarter. Impax Asset Management LTD now owns 10,524,302 shares of the utilities provider’s stock valued at $109,979,000 after purchasing an additional 1,679,559 shares during the last quarter. Renaissance Technologies LLC grew its holdings in Sabesp by 15.3% during the 4th quarter. Renaissance Technologies LLC now owns 4,116,800 shares of the utilities provider’s stock valued at $43,021,000 after purchasing an additional 547,479 shares during the last quarter. Deutsche Bank AG grew its holdings in Sabesp by 41.2% during the 4th quarter. Deutsche Bank AG now owns 3,768,434 shares of the utilities provider’s stock valued at $39,379,000 after purchasing an additional 1,100,182 shares during the last quarter. Schroder Investment Management Group grew its holdings in Sabesp by 40.9% during the 4th quarter. Schroder Investment Management Group now owns 3,094,996 shares of the utilities provider’s stock valued at $32,343,000 after purchasing an additional 898,970 shares during the last quarter. Finally, Guggenheim Capital LLC grew its holdings in Sabesp by 2.4% during the 4th quarter. Guggenheim Capital LLC now owns 1,260,965 shares of the utilities provider’s stock valued at $13,176,000 after purchasing an additional 29,635 shares during the last quarter. Institutional investors own 16.03% of the company’s stock.

About Sabesp

Companhia de Saneamento Básico do Estado de São Paulo-SABESP provides basic and environmental sanitation services, and supplies treated water and sewage services on a wholesale basis to residential, commercial, industrial, and governmental customers in the state of São Paulo. It provides water supply, sanitary sewage, urban rainwater management and drainage, urban cleaning, and solid waste management services, as well as related activities, including the planning, operation, maintenance, and commercialization of energy.

The Fly

Analyst Recommendations for Sabesp (NYSE:SBS)

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