Telefônica Brasil (NYSE:VIV) PT Raised to $10.40

Telefônica Brasil (NYSE:VIV) had its target price lifted by Scotiabank from $9.20 to $10.40 in a research note released on Friday morning, Benzinga reports. They currently have a sector perform rating on the Wireless communications provider’s stock.

Several other research analysts have also recently issued reports on VIV. Barclays increased their price objective on Telefônica Brasil from $11.00 to $11.50 and gave the stock an equal weight rating in a research report on Thursday, August 1st. StockNews.com downgraded Telefônica Brasil from a strong-buy rating to a buy rating in a research note on Tuesday, September 17th. Finally, Morgan Stanley upgraded Telefônica Brasil from an equal weight rating to an overweight rating in a research report on Thursday, July 11th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and an average price target of $10.98.

Telefônica Brasil Trading Down 1.1 %

Shares of VIV stock opened at $9.89 on Friday. The company’s 50-day moving average price is $9.29 and its 200-day moving average price is $9.23. The company has a current ratio of 1.03, a quick ratio of 0.98 and a debt-to-equity ratio of 0.21. The stock has a market cap of $16.45 billion, a price-to-earnings ratio of 15.70, a PEG ratio of 1.00 and a beta of 0.79. 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 Monday, July 29th. The Wireless communications provider reported $0.14 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.14. Telefônica Brasil had a net margin of 9.65% and a return on equity of 7.53%. The company had revenue of $2.62 billion for the quarter, compared to analyst estimates of $2.51 billion. During the same period in the prior year, the firm earned $0.14 earnings per share. As a group, equities analysts predict that Telefônica Brasil will post 0.61 earnings per share for the current year.

Telefônica Brasil Cuts Dividend

The business also recently disclosed a — dividend, which was paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 27th were issued a dividend of $0.0379 per share. This represents a dividend yield of 3.2%. The ex-dividend date was Tuesday, August 27th. Telefônica Brasil’s dividend payout ratio is currently 47.62%.

Hedge Funds Weigh In On Telefônica Brasil

A number of hedge funds have recently modified their holdings of the company. Brandes Investment Partners LP increased its stake 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 valued at $18,261,000 after purchasing an additional 275,569 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of Telefônica Brasil by 165.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,856,545 shares of the Wireless communications provider’s stock valued at $20,311,000 after purchasing an additional 1,157,304 shares during the period. Renaissance Technologies LLC raised its position in shares of 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 valued at $15,014,000 after purchasing an additional 197,500 shares during the period. Pinebridge Investments L.P. increased its holdings in Telefônica Brasil by 82.7% in the 4th quarter. Pinebridge Investments L.P. now owns 1,601,608 shares of the Wireless communications provider’s stock valued at $17,517,000 after acquiring an additional 725,072 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in Telefônica Brasil by 6.3% in the 1st quarter. Vanguard Group Inc. now owns 1,222,562 shares of the Wireless communications provider’s stock valued at $12,311,000 after acquiring an additional 72,388 shares during the last quarter. Hedge funds and other 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.