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

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 on Wednesday.

Several other research analysts also recently issued reports on the stock. Scotiabank upped their price target on shares of Telefônica Brasil from $9.20 to $10.40 and gave the stock a “sector perform” rating in a report on Friday, September 20th. Barclays upped their price target on shares of Telefônica Brasil from $11.00 to $11.50 and gave the stock an “equal weight” rating in a report on Thursday, August 1st. Finally, Morgan Stanley upgraded shares of Telefônica Brasil from an “equal weight” rating to an “overweight” rating in a report on Thursday, July 11th. Two equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Telefônica Brasil has an average rating of “Moderate Buy” and a consensus price target of $10.97.

Telefônica Brasil Price Performance

Shares of NYSE VIV opened at $9.38 on Wednesday. The business’s 50 day moving average price is $9.66 and its two-hundred day moving average price is $9.14. The company has a market cap of $15.60 billion, a PE ratio of 14.89, a price-to-earnings-growth ratio of 0.91 and a beta of 0.81. The company has a quick ratio of 0.98, a current ratio of 1.03 and a debt-to-equity ratio of 0.21. Telefônica Brasil has a twelve month low of $8.02 and a twelve month high of $11.43.

Telefônica Brasil (NYSE:VIV) last issued its quarterly earnings results on Tuesday, November 5th. The Wireless communications provider reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.03. The business had revenue of $2.53 billion during the quarter, compared to analysts’ expectations of $2.52 billion. Telefônica Brasil had a return on equity of 7.53% and a net margin of 9.65%. During the same period in the previous year, the company posted $0.18 earnings per share. On average, analysts predict that Telefônica Brasil will post 0.61 EPS for the current year.

Institutional Investors Weigh In On Telefônica Brasil

Large investors have recently made changes to their positions in the business. Brandes Investment Partners LP increased its holdings in Telefônica Brasil by 14.3% in the 2nd quarter. Brandes Investment Partners LP now owns 2,206,334 shares of the Wireless communications provider’s stock worth $18,261,000 after acquiring an additional 275,569 shares during the last quarter. Millennium Management LLC increased its holdings in Telefônica Brasil by 96.8% in the 2nd quarter. Millennium Management LLC now owns 544,019 shares of the Wireless communications provider’s stock worth $4,466,000 after acquiring an additional 267,652 shares during the last quarter. Summit Global Investments increased its holdings in Telefônica Brasil by 82.4% in the 2nd quarter. Summit Global Investments now owns 523,647 shares of the Wireless communications provider’s stock worth $4,299,000 after acquiring an additional 236,594 shares during the last quarter. Acadian Asset Management LLC increased its holdings in Telefônica Brasil by 308.7% in the 2nd quarter. Acadian Asset Management LLC now owns 264,192 shares of the Wireless communications provider’s stock worth $2,166,000 after acquiring an additional 199,546 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its stake in Telefônica Brasil by 12.1% in the 2nd quarter. Renaissance Technologies LLC now owns 1,828,800 shares of the Wireless communications provider’s stock worth $15,014,000 after purchasing an additional 197,500 shares during the period. 5.16% of the stock is owned by hedge funds and other institutional investors.

Telefônica Brasil Company Profile

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.