Barclays Boosts Telefônica Brasil (NYSE:VIV) Price Target to $11.50

Telefônica Brasil (NYSE:VIV) had its price target hoisted by equities researchers at Barclays from $11.00 to $11.50 in a report released on Thursday, Benzinga reports. The firm currently has an “equal weight” rating on the Wireless communications provider’s stock. Barclays‘s target price would suggest a potential upside of 31.43% from the stock’s current price.

VIV has been the subject of several other research reports. Morgan Stanley raised shares of Telefônica Brasil from an “equal weight” rating to an “overweight” rating in a research note on Thursday, July 11th. StockNews.com cut Telefônica Brasil from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $11.23.

Telefônica Brasil Price Performance

Telefônica Brasil stock traded up $0.16 during mid-day trading on Thursday, reaching $8.75. 547,009 shares of the company were exchanged, compared to its average volume of 873,178. The firm has a market cap of $14.56 billion, a PE ratio of 13.89, a PEG ratio of 0.79 and a beta of 0.79. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.01 and a quick ratio of 0.97. The company has a fifty day simple moving average of $8.53 and a 200-day simple moving average of $9.54. Telefônica Brasil has a 12 month low of $8.02 and a 12 month high of $11.43.

Telefônica Brasil (NYSE:VIV) last released its earnings results on Monday, July 29th. The Wireless communications provider reported $0.14 EPS for the quarter, meeting the consensus estimate of $0.14. Telefônica Brasil had a net margin of 9.65% and a return on equity of 7.43%. The firm had revenue of $2.62 billion for the quarter, compared to analyst estimates of $2.51 billion. During the same period last year, the firm earned $0.14 EPS. As a group, equities research analysts expect that Telefônica Brasil will post 0.63 earnings per share for the current fiscal year.

Institutional Trading of Telefônica Brasil

Several institutional investors have recently made changes to their positions in the company. Goldman Sachs Group Inc. increased its position in shares of Telefônica Brasil by 165.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,856,545 shares of the Wireless communications provider’s stock valued at $20,311,000 after acquiring an additional 1,157,304 shares during the last quarter. Pinebridge Investments L.P. grew its position in Telefônica Brasil by 82.7% during the fourth quarter. Pinebridge Investments L.P. now owns 1,601,608 shares of the Wireless communications provider’s stock valued at $17,517,000 after buying an additional 725,072 shares during the period. Banco BTG Pactual S.A. purchased a new stake in Telefônica Brasil during the fourth quarter worth about $6,208,000. Brandes Investment Partners LP raised its position in Telefônica Brasil by 38.5% in the fourth quarter. Brandes Investment Partners LP now owns 1,917,010 shares of the Wireless communications provider’s stock worth $20,972,000 after acquiring an additional 532,794 shares during the period. Finally, Summit Global Investments boosted its stake in Telefônica Brasil by 82.4% in the second quarter. Summit Global Investments now owns 523,647 shares of the Wireless communications provider’s stock valued at $4,299,000 after acquiring an additional 236,594 shares during the last quarter. Institutional investors own 5.16% of the company’s stock.

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.