Scotiabank Has Lowered Expectations for Telefonica Brasil (NYSE:VIV) Stock Price

Telefonica Brasil (NYSE:VIV) had its target price dropped by analysts at Scotiabank from $15.70 to $15.40 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “sector perform” rating on the Wireless communications provider’s stock. Scotiabank’s target price suggests a potential upside of 13.54% from the company’s current price.

Several other research analysts have also weighed in on VIV. The Goldman Sachs Group started coverage on Telefonica Brasil in a research report on Monday, May 18th. They set a “sell” rating and a $13.90 price target on the stock. Wall Street Zen cut Telefonica Brasil from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 16th. Barclays set a $16.50 target price on Telefonica Brasil and gave the company an “equal weight” rating in a report on Friday, April 17th. New Street Research upgraded shares of Telefonica Brasil from a “neutral” rating to a “buy” rating in a report on Tuesday, April 7th. Finally, UBS Group downgraded shares of Telefonica Brasil from a “buy” rating to a “sell” rating in a research report on Wednesday, March 11th. Two equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat, Telefonica Brasil currently has a consensus rating of “Reduce” and a consensus target price of $14.36.

Telefonica Brasil Trading Up 0.5%

NYSE VIV traded up $0.06 on Wednesday, hitting $13.56. 80,080 shares of the stock were exchanged, compared to its average volume of 971,620. The company’s 50-day moving average price is $15.49 and its two-hundred day moving average price is $14.29. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.10 and a quick ratio of 1.03. Telefonica Brasil has a 52-week low of $9.73 and a 52-week high of $17.25. The company has a market capitalization of $22.06 billion, a price-to-earnings ratio of 18.32, a P/E/G ratio of 0.78 and a beta of 0.63.

Telefonica Brasil (NYSE:VIV) last released its earnings results on Thursday, May 7th. The Wireless communications provider reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.02). The business had revenue of $2.98 billion during the quarter, compared to analysts’ expectations of $2.98 billion. Telefonica Brasil had a net margin of 10.49% and a return on equity of 9.32%. Research analysts predict that Telefonica Brasil will post 0.88 EPS for the current year.

Hedge Funds Weigh In On Telefonica Brasil

Several hedge funds have recently bought and sold shares of VIV. Royal Bank of Canada raised its holdings in Telefonica Brasil by 30.3% during the first quarter. Royal Bank of Canada now owns 431,051 shares of the Wireless communications provider’s stock valued at $3,758,000 after buying an additional 100,315 shares in the last quarter. Advisors Asset Management Inc. bought a new stake in shares of Telefonica Brasil during the 1st quarter worth about $52,000. Rhumbline Advisers increased its holdings in shares of Telefonica Brasil by 337.7% during the 1st quarter. Rhumbline Advisers now owns 4,233 shares of the Wireless communications provider’s stock valued at $37,000 after acquiring an additional 3,266 shares during the last quarter. Cetera Investment Advisers raised its stake in shares of Telefonica Brasil by 13.8% in the 2nd quarter. Cetera Investment Advisers now owns 48,646 shares of the Wireless communications provider’s stock valued at $555,000 after acquiring an additional 5,902 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Telefonica Brasil by 31.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 79,937 shares of the Wireless communications provider’s stock valued at $911,000 after acquiring an additional 18,975 shares in the last quarter. 5.16% of the stock is owned by institutional investors and hedge funds.

About Telefonica Brasil

Telefônica Brasil SA, commonly marketed under the Vivo brand, is one of Brazil’s largest telecommunications providers, offering a broad range of consumer and enterprise communications services. The company’s core activities include mobile voice and data services, fixed-line telephony, broadband internet (including fiber-to-the-home), and pay-TV solutions. It also provides ICT and managed services for business customers, such as cloud, data center, connectivity, Internet of Things (IoT) and security solutions.

Vivo operates a nationwide network across Brazil and serves both individual consumers and corporate clients.