Scotiabank Issues Pessimistic Forecast for Telefônica Brasil (NYSE:VIV) Stock Price

Telefônica Brasil (NYSE:VIV) had its price objective trimmed by Scotiabank from $10.40 to $9.20 in a research note published on Thursday morning,Benzinga reports. The firm currently has a sector perform rating on the Wireless communications provider’s stock.

A number of other research analysts have also recently commented on the company. Barclays upped their target price on Telefônica Brasil from $11.50 to $11.80 and gave the company an “equal weight” rating in a research note on Monday, November 25th. The Goldman Sachs Group reduced their target price on Telefônica Brasil from $10.60 to $9.20 and set a “buy” rating on the stock in a research note on Thursday, December 19th. StockNews.com upgraded Telefônica Brasil from a “buy” rating to a “strong-buy” rating in a research report on Thursday, January 9th. Finally, New Street Research cut shares of Telefônica Brasil from a “buy” rating to a “neutral” rating in a report on Monday, December 9th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Telefônica Brasil presently has a consensus rating of “Moderate Buy” and a consensus target price of $10.07.

Telefônica Brasil Stock Performance

NYSE VIV opened at $8.45 on Thursday. The business’s 50 day moving average price is $8.40 and its 200-day moving average price is $8.98. Telefônica Brasil has a fifty-two week low of $7.47 and a fifty-two week high of $11.32. The company has a market cap of $13.96 billion, a P/E ratio of 13.40, a P/E/G ratio of 0.84 and a beta of 0.79. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.91 and a current ratio of 0.96.

Telefônica Brasil (NYSE:VIV) last released its earnings results on Tuesday, February 25th. The Wireless communications provider reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.01. The firm had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.39 billion. Telefônica Brasil had a net margin of 9.78% and a return on equity of 7.77%. Sell-side analysts predict that Telefônica Brasil will post 0.6 earnings per share for the current year.

Hedge Funds Weigh In On Telefônica Brasil

A number of hedge funds and other institutional investors have recently made changes to their positions in VIV. Robeco Institutional Asset Management B.V. lifted its stake in Telefônica Brasil by 7.4% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 15,192,635 shares of the Wireless communications provider’s stock worth $114,704,000 after acquiring an additional 1,053,218 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in shares of Telefônica Brasil by 4.6% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,571,650 shares of the Wireless communications provider’s stock valued at $19,416,000 after purchasing an additional 114,266 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of Telefônica Brasil by 3.9% in the 4th quarter. Renaissance Technologies LLC now owns 2,078,200 shares of the Wireless communications provider’s stock worth $15,690,000 after purchasing an additional 78,200 shares during the period. Barclays PLC boosted its stake in shares of Telefônica Brasil by 2.6% during the fourth quarter. Barclays PLC now owns 1,275,565 shares of the Wireless communications provider’s stock valued at $9,630,000 after purchasing an additional 31,820 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in Telefônica Brasil by 49.0% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,171,789 shares of the Wireless communications provider’s stock valued at $12,034,000 after buying an additional 385,207 shares during the period. Institutional investors own 5.16% of the company’s stock.

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.