StockNews.com Upgrades Telefônica Brasil (NYSE:VIV) to “Strong-Buy”

StockNews.com upgraded shares of Telefônica Brasil (NYSE:VIV) from a buy rating to a strong-buy rating in a report published on Wednesday.

Several other brokerages have also recently issued reports on VIV. Barclays boosted their price objective on Telefônica Brasil from $11.00 to $11.50 and gave the company an equal weight rating in a report on Thursday, August 1st. 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 research note on Friday, September 20th. 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 research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Telefônica Brasil has a consensus rating of Moderate Buy and an average target price of $10.98.

Telefônica Brasil Price Performance

VIV stock opened at $10.22 on Wednesday. The stock has a market cap of $17.00 billion, a PE ratio of 16.22, a P/E/G ratio of 1.00 and a beta of 0.79. The company has a 50-day moving average price of $9.39 and a 200 day moving average price of $9.24. Telefônica Brasil has a 12 month low of $8.02 and a 12 month high of $11.43. The company has a current ratio of 1.03, a quick ratio of 0.98 and a debt-to-equity ratio of 0.21.

Telefônica Brasil (NYSE:VIV) last announced its quarterly earnings results on Monday, July 29th. The Wireless communications provider reported $0.14 EPS for the quarter, meeting the consensus estimate of $0.14. The firm had revenue of $2.62 billion for the quarter, compared to analyst estimates of $2.51 billion. Telefônica Brasil had a return on equity of 7.53% and a net margin of 9.65%. During the same quarter last year, the firm posted $0.14 earnings per share. Equities research analysts anticipate that Telefônica Brasil will post 0.61 earnings per share for the current year.

Telefônica Brasil Cuts Dividend

The firm also recently declared a — dividend, which was paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 27th were given a $0.0379 dividend. The ex-dividend date was Tuesday, August 27th. This represents a dividend yield of 3.2%. Telefônica Brasil’s dividend payout ratio is presently 44.44%.

Institutional Trading of Telefônica Brasil

A number of hedge funds have recently added to or reduced their stakes in the business. SPX Gestao de Recursos Ltda grew its position in shares of Telefônica Brasil by 264.9% during the second quarter. SPX Gestao de Recursos Ltda now owns 24,333 shares of the Wireless communications provider’s stock worth $200,000 after buying an additional 17,664 shares in the last quarter. Brandes Investment Partners LP raised its stake in Telefônica Brasil by 14.3% during the 2nd quarter. Brandes Investment Partners LP now owns 2,206,334 shares of the Wireless communications provider’s stock valued at $18,261,000 after acquiring an additional 275,569 shares in the last quarter. Kathmere Capital Management LLC grew its position in Telefônica Brasil by 4.1% in the 2nd quarter. Kathmere Capital Management LLC now owns 28,877 shares of the Wireless communications provider’s stock valued at $237,000 after buying an additional 1,150 shares in the last quarter. Millennium Management LLC boosted its stake in Telefônica Brasil by 96.8% during the 2nd quarter. Millennium Management LLC now owns 544,019 shares of the Wireless communications provider’s stock valued at $4,466,000 after purchasing an additional 267,652 shares in the last quarter. Finally, AQR Capital Management LLC grew its holdings in Telefônica Brasil by 20.0% during the second quarter. AQR Capital Management LLC now owns 106,347 shares of the Wireless communications provider’s stock worth $873,000 after acquiring an additional 17,724 shares during the period. 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.