Companhia de Saneamento Básico do Estado de São Paulo – SABESP (SBS) Draws Bearish Attention After Forming Bearish Double Bottom Pattern

September 8, 2018 - By Victoria Pittman

The chart of Companhia de Saneamento Básico do Estado de São Paulo – SABESP (SBS) shows a double bottom with $5.67 target or 7.00 % below today’s $6.10 share price. The 7 months chart pattern indicates high risk for the $4.16 billion company. It was reported on Sep, 8 by Finviz.com. If the $5.67 price target is reached, the company will be worth $291.13M less. Double bottoms are rare but powerful chart patterns.

The stock increased 1.67% or $0.1 during the last trading session, reaching $6.1. About 1.37 million shares traded. Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) has declined 16.78% since September 8, 2017 and is downtrending. It has underperformed by 29.35% the S&P500.

Analysts await Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) to report earnings on November, 13. They expect $0.26 earnings per share, down 38.10 % or $0.16 from last year’s $0.42 per share. SBS’s profit will be $177.27M for 5.87 P/E if the $0.26 EPS becomes a reality. After $0.08 actual earnings per share reported by Companhia de Saneamento Básico do Estado de São Paulo – SABESP for the previous quarter, Wall Street now forecasts 225.00 % EPS growth.

Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) Ratings Coverage

Among 3 analysts covering Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp American Depositary Shares (Each repstg 250 Common Shares) (NYSE:SBS), 0 have Buy rating, 0 Sell and 3 Hold. Therefore 0 are positive. Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp American Depositary Shares (Each repstg 250 Common Shares) had 3 analyst reports since March 12, 2018 according to SRatingsIntel. The rating was downgraded by J.P. Morgan to “Hold” on Wednesday, April 4. The stock of Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) earned “Neutral” rating by Janney Capital on Monday, March 12. The firm has “Neutral” rating given on Friday, May 18 by Goldman Sachs.

Another recent and important Companhia de Saneamento Básico do Estado de São Paulo – SABESP (NYSE:SBS) news was published by Seekingalpha.com which published an article titled: “Companhia de Saneamento Basico do Estado de Sao Paulo-SABESP (SBS) CEO Karla Bertocco Trindade on Q2 …” on August 15, 2018.

Companhia de Saneamento B??sico do Estado de S??o 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 clients in the state of S??o Paulo. The company has market cap of $4.16 billion. 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. It has a 6.96 P/E ratio. As of December 31, 2016, the firm provided water services through 8.7 million water connections to approximately 24.7 million people; and sewage services through 7.1 million sewage connections to approximately 21.2 million people, as well as operated 73,015 kilometers of water pipes and water transmission lines, and 50,097 kilometers of sewer lines.

Companhia de Saneamento Básico do Estado de São Paulo - SABESP (NYSE:SBS) Ratings Chart

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.