Telefonica Brasil (NYSE:VIV) Sets New 1-Year Low – Should You Sell?

Telefonica Brasil S.A. (NYSE:VIV)’s stock price reached a new 52-week low on Monday. The stock traded as low as $10.84 and last traded at $10.9150, with a volume of 141,135 shares changing hands. The stock had previously closed at $12.96.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Bank of America upgraded Telefonica Brasil from an “underperform” rating to a “neutral” rating in a report on Tuesday, October 13th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Telefonica Brasil in a research note on Friday, October 2nd. Morgan Stanley set a $14.00 price target on shares of Telefonica Brasil in a research report on Thursday, August 20th. Finally, Barclays set a $16.00 price objective on shares of Telefonica Brasil in a research note on Wednesday, July 29th. One analyst has rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus price target of $14.66.

Telefonica Brasil Trading Up 2.2%

The company has a fifty day moving average price of $11.92 and a two-hundred day moving average price of $13.76.

Telefonica Brasil (NYSE:VIV) last posted its earnings results on Thursday, July 23rd. The Wireless communications provider reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.04). The company had revenue of $3.04 billion during the quarter, compared to analyst estimates of $3.04 billion. On average, analysts forecast that Telefonica Brasil S.A. will post 0.95 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Telefonica Brasil

A number of large investors have recently added to or reduced their stakes in VIV. Opal Capital LLC bought a new stake in shares of Telefonica Brasil in the first quarter valued at about $4,255,000. Tidal Investments LLC boosted its position in shares of Telefonica Brasil by 54.5% during the second quarter. Tidal Investments LLC now owns 477,011 shares of the Wireless communications provider’s stock worth $6,277,000 after buying an additional 168,185 shares during the period. B. Metzler seel. Sohn & Co. AG grew its holdings in shares of Telefonica Brasil by 286.3% during the second quarter. B. Metzler seel. Sohn & Co. AG now owns 140,456 shares of the Wireless communications provider’s stock worth $1,848,000 after buying an additional 104,100 shares in the last quarter. Barometer Capital Management Inc. bought a new position in shares of Telefonica Brasil during the first quarter worth about $1,277,000. Finally, Dorsey Wright & Associates grew its holdings in shares of Telefonica Brasil by 39.6% during the first quarter. Dorsey Wright & Associates now owns 179,712 shares of the Wireless communications provider’s stock worth $2,859,000 after buying an additional 51,010 shares in the last quarter. Institutional investors own 5.16% of the company’s stock.

Telefonica Brasil Company Profile

Telefônica Brasil SA, operating under the Vivo brand, is one of Brazil’s major telecommunications companies. The company provides mobile voice and data services, fixed-line telecommunications, broadband internet, and other connectivity solutions to consumers, businesses, and public-sector customers.

Its offerings include mobile communication plans, 4G and 5G services, fiber-optic broadband, fixed voice services, television and digital entertainment options, and business technology solutions.