StockNews.com Upgrades Telefônica Brasil (NYSE:VIV) to Strong-Buy

Telefônica Brasil (NYSE:VIV) was upgraded by analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Thursday.

Other equities research analysts also recently issued research reports about the company. New Street Research downgraded Telefônica Brasil from a “buy” rating to a “neutral” rating in a research report on Monday, December 9th. Scotiabank upped their price target on Telefônica Brasil from $9.20 to $10.40 and gave the stock a “sector perform” rating in a report on Friday, September 20th. The Goldman Sachs Group dropped their price objective on shares of Telefônica Brasil from $10.60 to $9.20 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Finally, Barclays upped their target price on shares of Telefônica Brasil from $11.50 to $11.80 and gave the company an “equal weight” rating in a research note on Monday, November 25th. Three research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Telefônica Brasil presently has a consensus rating of “Moderate Buy” and a consensus target price of $10.47.

Telefônica Brasil Stock Performance

Telefônica Brasil stock opened at $7.69 on Thursday. The stock’s 50-day moving average is $8.37 and its 200-day moving average is $8.96. The company has a market cap of $12.79 billion, a price-to-earnings ratio of 12.21, a price-to-earnings-growth ratio of 0.78 and a beta of 0.78. Telefônica Brasil has a 12 month low of $7.47 and a 12 month high of $11.43. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.96 and a quick ratio of 0.91.

Telefônica Brasil (NYSE:VIV) last released its quarterly earnings data on Tuesday, November 5th. The Wireless communications provider reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.03. The company had revenue of $2.53 billion during the quarter, compared to analyst estimates of $2.52 billion. Telefônica Brasil had a net margin of 9.78% and a return on equity of 7.77%. During the same quarter in the prior year, the business earned $0.18 earnings per share. Equities analysts anticipate that Telefônica Brasil will post 0.63 earnings per share for the current year.

Institutional Investors Weigh In On Telefônica Brasil

Hedge funds and other institutional investors have recently bought and sold shares of the business. Brandes Investment Partners LP grew its position in shares of Telefônica Brasil by 14.3% during the second quarter. Brandes Investment Partners LP now owns 2,206,334 shares of the Wireless communications provider’s stock worth $18,261,000 after buying an additional 275,569 shares in the last quarter. Renaissance Technologies LLC grew its holdings in Telefônica Brasil by 12.1% during the 2nd quarter. Renaissance Technologies LLC now owns 1,828,800 shares of the Wireless communications provider’s stock worth $15,014,000 after acquiring an additional 197,500 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Telefônica Brasil by 49.0% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,171,789 shares of the Wireless communications provider’s stock worth $12,034,000 after purchasing an additional 385,207 shares during the last quarter. Sei Investments Co. increased its position in shares of Telefônica Brasil by 12.9% in the 2nd quarter. Sei Investments Co. now owns 710,107 shares of the Wireless communications provider’s stock worth $5,830,000 after purchasing an additional 81,229 shares during the last quarter. Finally, Itau Unibanco Holding S.A. acquired a new stake in shares of Telefônica Brasil in the 3rd quarter valued at about $5,967,000. 5.16% of the stock is currently owned by hedge funds and other institutional investors.

About Telefônica Brasil

Telefônica Brasil SA, together with its subsidiaries, operates as a mobile telecommunications company in Brazil. Its fixed line services portfolio includes local, domestic long-distance, and international long-distance calls; and mobile portfolio comprises voice and broadband internet access through 3G, 4G, 4.5G, and 5G, as well as mobile value-added and wireless roaming services.