Telefônica Brasil (NYSE:VIV) Shares Gap Up – Here’s Why

Telefônica Brasil S.A. (NYSE:VIV) gapped up before the market opened on Thursday . The stock had previously closed at $8.99, but opened at $9.20. Telefônica Brasil shares last traded at $9.43, with a volume of 37,244 shares trading hands.

Wall Street Analyst Weigh In

VIV has been the topic of several research reports. StockNews.com raised Telefônica Brasil from a “buy” rating to a “strong-buy” rating in a research report on Friday, March 7th. Barclays upgraded Telefônica Brasil from an “equal weight” rating to an “overweight” rating and cut their price objective for the stock from $11.80 to $11.50 in a report on Monday, March 3rd. The Goldman Sachs Group decreased their target price on Telefônica Brasil from $10.60 to $9.20 and set a “buy” rating for the company in a report on Thursday, December 19th. Scotiabank reduced their price target on shares of Telefônica Brasil from $10.40 to $9.20 and set a “sector perform” rating on the stock in a research report on Thursday, February 27th. Finally, New Street Research downgraded shares of Telefônica Brasil from a “buy” rating to a “neutral” rating in a research note on Monday, December 9th. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $9.97.

Telefônica Brasil Stock Performance

The stock has a market cap of $15.35 billion, a PE ratio of 14.75, a PEG ratio of 0.84 and a beta of 0.76. The stock has a fifty day simple moving average of $8.79 and a two-hundred day simple moving average of $8.83. 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 quarterly earnings results on Tuesday, February 25th. The Wireless communications provider reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.01. The business 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%. Equities analysts anticipate that Telefônica Brasil S.A. will post 0.6 EPS for the current fiscal year.

Telefônica Brasil Increases Dividend

The firm also recently declared a dividend, which was paid on Tuesday, March 25th. Investors of record on Tuesday, March 25th were issued a $0.0215 dividend. The ex-dividend date of this dividend was Tuesday, March 25th. This is an increase from Telefônica Brasil’s previous dividend of $0.02. Telefônica Brasil’s dividend payout ratio is currently 50.82%.

Hedge Funds Weigh In On Telefônica Brasil

A number of institutional investors have recently made changes to their positions in the business. Laird Norton Wetherby Wealth Management LLC increased its stake in shares of Telefônica Brasil by 1.3% in the fourth quarter. Laird Norton Wetherby Wealth Management LLC now owns 82,053 shares of the Wireless communications provider’s stock worth $620,000 after buying an additional 1,086 shares during the last quarter. Quantinno Capital Management LP increased its position in shares of Telefônica Brasil by 3.5% in the 3rd quarter. Quantinno Capital Management LP now owns 33,370 shares of the Wireless communications provider’s stock worth $343,000 after purchasing an additional 1,136 shares during the last quarter. Summit Global Investments raised its stake in shares of Telefônica Brasil by 1.1% in the 4th quarter. Summit Global Investments now owns 137,909 shares of the Wireless communications provider’s stock valued at $1,041,000 after purchasing an additional 1,506 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Telefônica Brasil by 67.8% during the fourth quarter. GAMMA Investing LLC now owns 3,818 shares of the Wireless communications provider’s stock worth $29,000 after purchasing an additional 1,543 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co grew its stake in Telefônica Brasil by 0.9% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 195,958 shares of the Wireless communications provider’s stock worth $1,478,000 after purchasing an additional 1,653 shares in the last quarter. 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.