Telefônica Brasil (NYSE:VIV) Price Target Cut to $9.20 by Analysts at The Goldman Sachs Group

Telefônica Brasil (NYSE:VIV) had its price target trimmed by The Goldman Sachs Group from $10.60 to $9.20 in a report published on Thursday,Benzinga reports. The brokerage currently has a buy rating on the Wireless communications provider’s stock.

Several other research analysts have also recently commented on the stock. Scotiabank raised their target price 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 lifted their price objective on shares of Telefônica Brasil from $11.50 to $11.80 and gave the stock an “equal weight” rating in a research report on Monday, November 25th. New Street Research lowered Telefônica Brasil from a “buy” rating to a “neutral” rating in a report on Monday, December 9th. Finally, StockNews.com lowered Telefônica Brasil from a “strong-buy” rating to a “buy” rating in a research report on Thursday, December 12th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $10.60.

Telefônica Brasil Stock Performance

Shares of VIV opened at $8.04 on Thursday. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.96 and a quick ratio of 0.91. The stock has a market capitalization of $13.37 billion, a P/E ratio of 12.76, a P/E/G ratio of 0.78 and a beta of 0.78. Telefônica Brasil has a 12-month low of $7.66 and a 12-month high of $11.43. The firm’s 50 day moving average is $8.87 and its 200-day moving average is $9.03.

Telefônica Brasil (NYSE:VIV) last issued its earnings results on Tuesday, November 5th. The Wireless communications provider reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.03. Telefônica Brasil had a return on equity of 7.77% and a net margin of 9.78%. The business had revenue of $2.53 billion for the quarter, compared to analysts’ expectations of $2.52 billion. During the same period in the previous year, the firm posted $0.18 EPS. Equities research analysts anticipate that Telefônica Brasil will post 0.63 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Blue Trust Inc. raised its position in Telefônica Brasil by 2,821.8% during the second quarter. Blue Trust Inc. now owns 3,214 shares of the Wireless communications provider’s stock valued at $26,000 after acquiring an additional 3,104 shares in the last quarter. Aprio Wealth Management LLC bought a new position in shares of Telefônica Brasil during the 3rd quarter valued at $134,000. QRG Capital Management Inc. boosted its holdings in Telefônica Brasil by 30.2% in the third quarter. QRG Capital Management Inc. now owns 13,094 shares of the Wireless communications provider’s stock worth $134,000 after purchasing an additional 3,039 shares in the last quarter. First Affirmative Financial Network acquired a new position in Telefônica Brasil during the third quarter worth $160,000. Finally, Atomi Financial Group Inc. raised its holdings in Telefônica Brasil by 30.6% during the third quarter. Atomi Financial Group Inc. now owns 18,873 shares of the Wireless communications provider’s stock valued at $194,000 after buying an additional 4,421 shares in the last quarter. 5.16% of the stock is owned by institutional investors and hedge funds.

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.