Brokerage firm Janney Capital Downgrades its rating on Companhia de Saneamento Basico (ADR)(NYSE:SBS). The shares have been rated Neutral. Previously, the analysts had a Buy rating on the shares. The rating by Janney Capital was issued on Aug 3, 2016.
Companhia de Saneamento Basico (ADR) (SBS) shares turned negative on Fridays trading session with the shares closing down -0.31 points or -3.27% at a volume of 19,67,458. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $9.48. The peak price level was also seen at $9.48 while the days lowest was $9.115. Finally the shares closed at $9.17. The 52-week high of the shares is $9.596 while the 52-week low is $3.46. According to the latest information available, the market cap of the company is $6,268 M.
Companhia de Saneamento Basico (ADR)(SBS) last announced its earnings results on May 12, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $870.00M. Analysts had an estimated revenue of $2.33B. Earnings per share were $0.27. Analysts had estimated an EPS of $0.52.
Companhia de Saneamento Basico do Estado de Sao Paulo-SABESP is a mixed capital company. The Company is engaged in the provision of basic and environmental sanitation services in the State of Sao Paulo as well as it supplies treated water and sewage services on a wholesale basis. The Company operates two segments: water supply and sewage services. It operates water and sewage services in approximately 364 municipalities of the State of Sao Paulo. Most of these municipalities operations are based on 30-year concession program and services contracts. The Company also provides advisory services on the rational use of water planning and commercial management financial and operating issues. The Company is qualified to provide urban rainwater drainage and urban cleaning services handle solid waste sell power perform other services provide products and obtain benefits and rights that directly or indirectly result from its assets operations and activities in Brazil or abroad.