Sabesp (SBS) Rating Increased to Neutral at Citigroup

Citigroup upgraded shares of Sabesp (NYSE:SBS) from a sell rating to a neutral rating in a research report released on Monday, MarketBeat Ratings reports.

Other equities research analysts also recently issued research reports about the company. ValuEngine downgraded Sabesp from a strong-buy rating to a buy rating in a report on Monday, April 2nd. Zacks Investment Research raised Sabesp from a sell rating to a hold rating in a report on Monday, January 22nd. JPMorgan Chase lowered Sabesp from an overweight rating to a neutral rating in a research report on Wednesday, April 4th. Finally, Janney Montgomery Scott lowered Sabesp from a buy rating to a neutral rating in a research report on Monday, March 12th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. Sabesp currently has a consensus rating of Hold.

Sabesp opened at $7.46 on Monday, 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. Sabesp has a twelve month low of $7.46 and a twelve month high of $7.57. The firm has a market cap of $5.18 billion, a P/E ratio of 6.43 and a beta of 1.81.

Sabesp (NYSE:SBS) last released its quarterly earnings data on Tuesday, March 27th. The utilities provider reported $0.28 earnings per share for the quarter. Sabesp had a return on equity of 13.98% and a net margin of 16.48%. The company had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.07 billion. analysts forecast that Sabesp will post 1.17 earnings per share for the current fiscal year.

The business also recently announced a special dividend, which will be paid on Friday, July 6th. Investors of record on Tuesday, May 1st will be given a dividend of $0.3115 per share. The ex-dividend date is Monday, April 30th. Sabesp’s dividend payout ratio is currently 20.69%.

Large investors have recently made changes to their positions in the stock. Lenox Wealth Management Inc. raised its position in Sabesp by 32.7% during the 4th quarter. Lenox Wealth Management Inc. now owns 73,956 shares of the utilities provider’s stock worth $773,000 after purchasing an additional 18,206 shares during the last quarter. Lazard Asset Management LLC raised its position in Sabesp by 138.0% during the 4th quarter. Lazard Asset Management LLC now owns 1,133,818 shares of the utilities provider’s stock worth $11,848,000 after purchasing an additional 657,441 shares during the last quarter. Thomas White International Ltd. raised its position in Sabesp by 5.8% during the 4th quarter. Thomas White International Ltd. now owns 123,611 shares of the utilities provider’s stock worth $1,292,000 after purchasing an additional 6,759 shares during the last quarter. Raymond James & Associates raised its position in Sabesp by 8.3% during the 4th quarter. Raymond James & Associates now owns 245,604 shares of the utilities provider’s stock worth $2,567,000 after purchasing an additional 18,854 shares during the last quarter. Finally, Lake Street Advisors Group LLC bought a new position in Sabesp during the 4th quarter worth $110,000. 16.03% of the stock is owned by institutional investors and hedge funds.

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.

Analyst Recommendations for Sabesp (NYSE:SBS)

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