Companhia de Saneamento Basico (NYSE:SBS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday. The firm presently has a $12.00 price objective on the utilities provider’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 41.84% from the company’s current price.

According to Zacks, “Year to date, SABESP's American Depository Receipts (ADR) have outperformed the Zacks categorized Utility Water Supply industry. Also, we believe the company's long-term prospects are bright, as growth in the Brazilian population is creating higher demand for water and sewage services. By 2022, it aims to add nearly 1.0 million new water connections and 1.3 million new sewage connections. Also, it has planned investments worth R$13.9 billion for 2017-2021. In first-quarter 2017, the company's earnings per ADR grew 33.3% year over year to $0.32, while revenues increased 17.5% to R$3.6 billion. Billed water and sewage volumes increased 6% year over year. For 2017, capital spending planned is approximately R$2.3 billion.”

A number of other brokerages also recently issued reports on SBS. Citigroup Inc restated a “neutral” rating on shares of Companhia de Saneamento Basico in a research report on Tuesday, February 21st. Standpoint Research downgraded shares of Companhia de Saneamento Basico from a “buy” rating to a “hold” rating in a research report on Monday, March 6th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $12.00.

Analyst Recommendations for Companhia de Saneamento Basico (NYSE:SBS)

Shares of Companhia de Saneamento Basico (NYSE:SBS) opened at 8.46 on Friday. Companhia de Saneamento Basico has a 12-month low of $7.01 and a 12-month high of $11.22. The firm has a market capitalization of $5.78 billion, a price-to-earnings ratio of 6.23 and a beta of 1.81. The firm has a 50-day moving average of $9.90 and a 200 day moving average of $9.64.

The business also recently announced a dividend, which will be paid on Tuesday, June 27th. Investors of record on Monday, April 10th will be given a dividend of $0.3843 per share. The ex-dividend date is Thursday, April 6th. Companhia de Saneamento Basico’s payout ratio is presently 5.00%.

COPYRIGHT VIOLATION WARNING: “Companhia de Saneamento Basico (SBS) Raised to Buy at Zacks Investment Research” was first published by American Banking News and is the sole property of of American Banking News. If you are accessing this piece on another website, it was illegally copied and reposted in violation of US and international trademark and copyright laws. The original version of this piece can be read at https://www.americanbankingnews.com/2017/05/19/companhia-de-saneamento-basico-sbs-raised-to-buy-at-zacks-investment-research.html.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. AQR Capital Management LLC increased its position in Companhia de Saneamento Basico by 2.5% in the fourth quarter. AQR Capital Management LLC now owns 6,724,709 shares of the utilities provider’s stock worth $58,370,000 after buying an additional 161,258 shares during the last quarter. Impax Asset Management LTD increased its position in Companhia de Saneamento Basico by 10.6% in the first quarter. Impax Asset Management LTD now owns 6,619,404 shares of the utilities provider’s stock worth $68,908,000 after buying an additional 635,474 shares during the last quarter. UBS Asset Management Americas Inc. increased its position in Companhia de Saneamento Basico by 2.1% in the fourth quarter. UBS Asset Management Americas Inc. now owns 4,981,720 shares of the utilities provider’s stock worth $43,242,000 after buying an additional 103,454 shares during the last quarter. Vanguard Group Inc. increased its position in Companhia de Saneamento Basico by 4.3% in the first quarter. Vanguard Group Inc. now owns 4,915,627 shares of the utilities provider’s stock worth $51,172,000 after buying an additional 201,366 shares during the last quarter. Finally, Brookfield Asset Management Inc. increased its position in Companhia de Saneamento Basico by 1.4% in the first quarter. Brookfield Asset Management Inc. now owns 4,402,020 shares of the utilities provider’s stock worth $45,825,000 after buying an additional 61,420 shares during the last quarter. Institutional investors own 14.19% of the company’s stock.

About Companhia de Saneamento Basico

Companhia de Saneamento Basico do Estado de Sao Paulo-SABESP is a water and sewage service provider. The Company provides water and sewage services to a range of residential, commercial, industrial and governmental customers in over 360 municipalities in the state of Sao Paulo, including the city of Sao Paulo.

5 Day Chart for NYSE:SBS

Get a free copy of the Zacks research report on Companhia de Saneamento Basico (SBS)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Companhia de Saneamento Basico Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Companhia de Saneamento Basico and related companies with MarketBeat.com's FREE daily email newsletter.