Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp (NYSE:SBS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Tuesday.

According to Zacks, “In the last six months, SABESP's American Depository Receipts (ADR) has 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. For 2017, capital spending planned is approximately R$2.3 billion. However, SABESP is not immune to risks arising from higher expenses, foreign currency translation, governmental interference and dependence on electricity as a source of energy. Moreover, the company's higher debt levels, if unchecked, will inflate its financial obligations, posing serious threats to its profitability.”

SBS has been the subject of several other research reports. BidaskClub upgraded Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp from a “buy” rating to a “strong-buy” rating in a research note on Thursday, July 6th. Citigroup Inc. cut Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp from a “neutral” rating to a “sell” rating in a research note on Thursday, April 20th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $12.00.

Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp (NYSE:SBS) traded up 1.92% during trading on Tuesday, hitting $11.13. 864,483 shares of the stock traded hands. The stock has a market cap of $7.61 billion, a P/E ratio of 8.40 and a beta of 1.75. The firm’s 50-day moving average is $9.21 and its 200-day moving average is $9.68. Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp has a 12 month low of $7.76 and a 12 month high of $11.22.

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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SBS. Greenleaf Trust acquired a new position in Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp during the first quarter valued at about $109,000. Koch Industries Inc. acquired a new position in Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp during the first quarter valued at about $111,000. Harel Insurance Investments & Financial Services Ltd. boosted its position in Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp by 6.0% in the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 10,676 shares of the utilities provider’s stock valued at $111,000 after buying an additional 600 shares during the last quarter. Global X Management Co. LLC boosted its position in Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp by 1.9% in the first quarter. Global X Management Co. LLC now owns 12,528 shares of the utilities provider’s stock valued at $130,000 after buying an additional 237 shares during the last quarter. Finally, James Investment Research Inc. acquired a new position in Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp during the second quarter valued at about $124,000. Hedge funds and other institutional investors own 14.86% of the company’s stock.

Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp Company Profile

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.

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