Companhia de Saneamento Bsc DEDSP (NYSE:SBS) Shares Gap Up to $13.17

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Shares of Companhia de Saneamento Bsc DEDSP (NYSE:SBS) gapped up before the market opened on Thursday . The stock had previously closed at $12.53, but opened at $13.17. Companhia de Saneamento Bsc DEDSP shares last traded at $13.81, with a volume of 2,316,980 shares traded.

SBS has been the topic of several recent research reports. Zacks Investment Research upgraded HAYS PLC/ADR from a “sell” rating to a “hold” rating in a research note on Tuesday, June 18th. ValuEngine downgraded Zuora from a “buy” rating to a “hold” rating in a research note on Saturday, June 1st. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. Companhia de Saneamento Bsc DEDSP has a consensus rating of “Hold” and an average price target of $13.00.

The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.00 and a current ratio of 1.01. The company has a market cap of $8.76 billion, a P/E ratio of 12.67 and a beta of 0.98. The company has a 50 day moving average of $11.96.

Companhia de Saneamento Bsc DEDSP (NYSE:SBS) last posted its quarterly earnings results on Thursday, May 9th. The utilities provider reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.03). The company had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1 billion. Companhia de Saneamento Bsc DEDSP had a return on equity of 14.83% and a net margin of 17.69%. As a group, sell-side analysts predict that Companhia de Saneamento Bsc DEDSP will post 1.13 earnings per share for the current fiscal year.

The business also recently declared a special dividend, which was paid on Monday, July 8th. Investors of record on Wednesday, May 1st were paid a $0.2999 dividend. The ex-dividend date was Tuesday, April 30th. Companhia de Saneamento Bsc DEDSP’s payout ratio is currently 22.02%.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Bank of America Corp DE boosted its stake in Companhia de Saneamento Bsc DEDSP by 157.2% during the 4th quarter. Bank of America Corp DE now owns 3,099,826 shares of the utilities provider’s stock valued at $25,015,000 after purchasing an additional 1,894,574 shares during the last quarter. Deutsche Bank AG boosted its stake in Companhia de Saneamento Bsc DEDSP by 23.4% during the 4th quarter. Deutsche Bank AG now owns 2,210,550 shares of the utilities provider’s stock valued at $17,838,000 after purchasing an additional 419,682 shares during the last quarter. Amundi Pioneer Asset Management Inc. boosted its stake in Companhia de Saneamento Bsc DEDSP by 47.0% during the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 1,539,881 shares of the utilities provider’s stock valued at $12,427,000 after purchasing an additional 492,438 shares during the last quarter. Millennium Management LLC boosted its stake in Companhia de Saneamento Bsc DEDSP by 16.6% during the 4th quarter. Millennium Management LLC now owns 1,386,601 shares of the utilities provider’s stock valued at $11,190,000 after purchasing an additional 197,733 shares during the last quarter. Finally, Lazard Asset Management LLC boosted its stake in Companhia de Saneamento Bsc DEDSP by 143.3% during the 1st quarter. Lazard Asset Management LLC now owns 1,350,562 shares of the utilities provider’s stock valued at $14,288,000 after purchasing an additional 795,553 shares during the last quarter.

About Companhia de Saneamento Bsc DEDSP (NYSE:SBS)

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.

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