Telefônica Brasil (NYSE:VIV) Reaches New 12-Month Low – Here’s Why

Telefônica Brasil S.A. (NYSE:VIV)’s share price hit a new 52-week low during trading on Thursday . The company traded as low as $7.47 and last traded at $7.48, with a volume of 59941 shares traded. The stock had previously closed at $7.55.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. The Goldman Sachs Group reduced their target price on shares of Telefônica Brasil from $10.60 to $9.20 and set a “buy” rating on the stock in a report on Thursday, December 19th. New Street Research cut shares of Telefônica Brasil from a “buy” rating to a “neutral” rating in a research report on Monday, December 9th. Barclays increased their target price on Telefônica Brasil from $11.50 to $11.80 and gave the company an “equal weight” rating in a report on Monday, November 25th. StockNews.com downgraded Telefônica Brasil from a “strong-buy” rating to a “buy” rating in a report on Thursday, December 12th. Finally, Scotiabank raised their target price on Telefônica Brasil from $9.20 to $10.40 and gave the stock a “sector perform” rating in a research report on Friday, September 20th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $10.60.

Telefônica Brasil Stock Performance

The firm has a fifty day simple moving average of $8.54 and a 200-day simple moving average of $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 company has a market cap of $12.48 billion, a PE ratio of 11.90, a price-to-earnings-growth ratio of 0.78 and a beta of 0.78.

Telefônica Brasil (NYSE:VIV) last released its quarterly 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 firm had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.52 billion. During the same quarter last year, the business posted $0.18 EPS. On average, research analysts forecast that Telefônica Brasil S.A. will post 0.63 EPS for the current fiscal year.

Institutional Investors Weigh In On Telefônica Brasil

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Brandes Investment Partners LP lifted its holdings 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 worth $18,261,000 after purchasing an additional 275,569 shares during the period. Renaissance Technologies LLC raised its position in 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 worth $15,014,000 after buying an additional 197,500 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Telefônica Brasil by 49.0% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,171,789 shares of the Wireless communications provider’s stock worth $12,034,000 after acquiring an additional 385,207 shares during the period. Sei Investments Co. boosted its holdings in shares of Telefônica Brasil by 12.9% in the second quarter. Sei Investments Co. now owns 710,107 shares of the Wireless communications provider’s stock valued at $5,830,000 after acquiring an additional 81,229 shares in the last quarter. Finally, Itau Unibanco Holding S.A. acquired a new position in shares of Telefônica Brasil during the third quarter worth about $5,967,000. 5.16% of the stock is owned by hedge funds and other institutional investors.

About Telefônica Brasil

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.