Telefônica Brasil (NYSE:VIV) Price Target Cut to $9.20 by Analysts at Scotiabank

Telefônica Brasil (NYSE:VIV) had its price objective cut by Scotiabank from $10.40 to $9.20 in a report issued on Thursday morning,Benzinga reports. They currently have a sector perform rating on the Wireless communications provider’s stock.

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

Telefônica Brasil Price Performance

Shares of NYSE:VIV opened at $8.45 on Thursday. The firm’s 50 day moving average price is $8.40 and its 200-day moving average price is $8.98. The company has a quick ratio of 0.91, a current ratio of 0.96 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $13.96 billion, a PE ratio of 13.40, a price-to-earnings-growth ratio of 0.84 and a beta of 0.79. Telefônica Brasil has a twelve month low of $7.47 and a twelve month high of $11.32.

Telefônica Brasil (NYSE:VIV) last issued its quarterly earnings results on Tuesday, February 25th. The Wireless communications provider reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.01. The business had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.39 billion. Telefônica Brasil had a net margin of 9.78% and a return on equity of 7.77%. Equities research analysts expect that Telefônica Brasil will post 0.6 EPS for the current year.

Institutional Trading of Telefônica Brasil

Institutional investors and hedge funds have recently bought and sold shares of the stock. Laird Norton Wetherby Wealth Management LLC grew its position in shares of Telefônica Brasil by 1.3% during the fourth quarter. Laird Norton Wetherby Wealth Management LLC now owns 82,053 shares of the Wireless communications provider’s stock valued at $620,000 after purchasing an additional 1,086 shares in the last quarter. Quantinno Capital Management LP grew its holdings in Telefônica Brasil by 3.5% during the 3rd quarter. Quantinno Capital Management LP now owns 33,370 shares of the Wireless communications provider’s stock valued at $343,000 after buying an additional 1,136 shares in the last quarter. Oppenheimer Asset Management Inc. increased its stake in Telefônica Brasil by 5.5% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 23,708 shares of the Wireless communications provider’s stock worth $243,000 after acquiring an additional 1,236 shares during the last quarter. Summit Global Investments raised its holdings in shares of Telefônica Brasil by 1.1% during the 4th quarter. Summit Global Investments now owns 137,909 shares of the Wireless communications provider’s stock worth $1,041,000 after acquiring an additional 1,506 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of Telefônica Brasil by 67.8% during the 4th quarter. GAMMA Investing LLC now owns 3,818 shares of the Wireless communications provider’s stock valued at $29,000 after acquiring an additional 1,543 shares during the last quarter. 5.16% of the stock is currently owned by 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.