Telefônica Brasil (NYSE:VIV) Hits New 52-Week High – Here’s Why

Telefônica Brasil S.A. (NYSE:VIV) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $11.03 and last traded at $10.99, with a volume of 213986 shares trading hands. The stock had previously closed at $10.74.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Barclays upgraded shares of Telefônica Brasil from an “equal weight” rating to an “overweight” rating and cut their target price for the stock from $23.60 to $23.00 in a research note on Monday, March 3rd. Wall Street Zen upgraded Telefônica Brasil from a “hold” rating to a “buy” rating in a research note on Saturday, June 7th. The Goldman Sachs Group upped their price objective on Telefônica Brasil from $9.20 to $10.30 and gave the stock a “buy” rating in a research report on Wednesday, April 30th. Finally, Scotiabank cut their target price on Telefônica Brasil from $20.80 to $18.40 and set a “sector perform” rating on the stock in a research report on Thursday, February 27th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.23.

Telefônica Brasil Stock Up 2.4%

The company has a market capitalization of $18.17 billion, a PE ratio of 17.45, a P/E/G ratio of 0.84 and a beta of 0.72. The firm has a 50 day simple moving average of $10.84 and a two-hundred day simple moving average of $14.79. The company has a current ratio of 0.96, a quick ratio of 0.91 and a debt-to-equity ratio of 0.19.

Telefônica Brasil (NYSE:VIV) last issued its earnings results on Monday, May 12th. The Wireless communications provider reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.01). Telefônica Brasil had a return on equity of 7.77% and a net margin of 9.78%. The business had revenue of $2.53 billion for the quarter, compared to analysts’ expectations of $14.41 billion. Research analysts expect that Telefônica Brasil S.A. will post 0.6 EPS for the current year.

Hedge Funds Weigh In On Telefônica Brasil

A number of institutional investors and hedge funds have recently made changes to their positions in VIV. Robeco Institutional Asset Management B.V. boosted its holdings in Telefônica Brasil by 2.8% during the first quarter. Robeco Institutional Asset Management B.V. now owns 15,613,608 shares of the Wireless communications provider’s stock worth $136,151,000 after buying an additional 420,973 shares in the last quarter. Aberdeen Group plc boosted its stake in shares of Telefônica Brasil by 4.2% during the 1st quarter. Aberdeen Group plc now owns 2,844,839 shares of the Wireless communications provider’s stock worth $24,807,000 after acquiring an additional 114,849 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in shares of Telefônica Brasil by 4.6% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,571,650 shares of the Wireless communications provider’s stock worth $19,416,000 after acquiring an additional 114,266 shares during the period. Renaissance Technologies LLC increased its stake in Telefônica Brasil by 3.9% in the 4th quarter. Renaissance Technologies LLC now owns 2,078,200 shares of the Wireless communications provider’s stock valued at $15,690,000 after purchasing an additional 78,200 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in Telefônica Brasil by 36.4% during the first quarter. Invesco Ltd. now owns 1,445,527 shares of the Wireless communications provider’s stock worth $12,605,000 after purchasing an additional 385,848 shares during 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.