Companhia de Saneamento Basico (SBS) Cut to “Neutral” at Goldman Sachs

Goldman Sachs lowered shares of Companhia de Saneamento Basico (NYSE:SBS) from a buy rating to a neutral rating in a report issued on Friday, Marketbeat reports.

A number of other research analysts also recently issued reports on the company. ValuEngine raised Companhia de Saneamento Basico from a buy rating to a strong-buy rating in a report on Wednesday, February 28th. Janney Montgomery Scott downgraded Companhia de Saneamento Basico from a buy rating to a neutral rating in a report on Monday, March 12th. JPMorgan Chase downgraded Companhia de Saneamento Basico from an overweight rating to a neutral rating in a report on Wednesday, April 4th. Citigroup raised Companhia de Saneamento Basico from a sell rating to a neutral rating in a report on Monday, May 14th. Finally, Zacks Investment Research raised Companhia de Saneamento Basico from a sell rating to a hold rating in a report on Monday, January 22nd. One analyst has rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company. The stock currently has an average rating of Hold.

Shares of Companhia de Saneamento Basico opened at $7.01 on Friday, Marketbeat.com reports. Companhia de Saneamento Basico has a 12-month low of $6.90 and a 12-month high of $11.96. The company has a market capitalization of $4.83 billion, a price-to-earnings ratio of 6.04 and a beta of 1.81. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.07 and a quick ratio of 1.06.

Companhia de Saneamento Basico (NYSE:SBS) last announced its quarterly earnings results on Tuesday, March 27th. The utilities provider reported $0.28 earnings per share (EPS) for the quarter. Companhia de Saneamento Basico had a return on equity of 13.98% and a net margin of 16.48%. The company had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.07 billion. sell-side analysts anticipate that Companhia de Saneamento Basico will post 1.05 EPS for the current year.

The firm also recently announced a special dividend, which will be paid on Friday, July 6th. Stockholders of record on Tuesday, May 1st will be paid a dividend of $0.3115 per share. The ex-dividend date is Monday, April 30th. Companhia de Saneamento Basico’s payout ratio is 20.69%.

Several hedge funds have recently made changes to their positions in the company. AMP Capital Investors Ltd raised its stake in shares of Companhia de Saneamento Basico by 10.6% during the 4th quarter. AMP Capital Investors Ltd now owns 60,700 shares of the utilities provider’s stock worth $634,000 after buying an additional 5,800 shares during the period. Thomas White International Ltd. raised its stake in shares of Companhia de Saneamento Basico 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 buying an additional 6,759 shares during the period. Mackenzie Financial Corp raised its stake in shares of Companhia de Saneamento Basico by 57.5% during the 4th quarter. Mackenzie Financial Corp now owns 22,036 shares of the utilities provider’s stock worth $230,000 after buying an additional 8,047 shares during the period. Tower Research Capital LLC TRC raised its stake in shares of Companhia de Saneamento Basico by 538.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 10,850 shares of the utilities provider’s stock worth $113,000 after buying an additional 9,150 shares during the period. Finally, Deltec Asset Management LLC raised its stake in shares of Companhia de Saneamento Basico by 9.7% during the 4th quarter. Deltec Asset Management LLC now owns 113,600 shares of the utilities provider’s stock worth $1,187,000 after buying an additional 10,000 shares during the period. 15.41% of the stock is owned by institutional investors and hedge funds.

About Companhia de Saneamento Basico

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 Companhia de Saneamento Basico (NYSE:SBS)

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