StockNews.com Lowers Telefônica Brasil (NYSE:VIV) to Buy

StockNews.com lowered shares of Telefônica Brasil (NYSE:VIV) from a strong-buy rating to a buy rating in a report released on Friday morning.

A number of other brokerages have also recently issued reports on VIV. Morgan Stanley raised shares of Telefônica Brasil from an equal weight rating to an overweight rating in a research report on Thursday, July 11th. Barclays boosted their price objective on shares of Telefônica Brasil from $11.00 to $11.50 and gave the company an equal weight rating in a research report on Thursday, August 1st. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $11.17.

Telefônica Brasil Stock Performance

NYSE VIV opened at $9.53 on Friday. The company has a quick ratio of 0.98, a current ratio of 1.03 and a debt-to-equity ratio of 0.21. Telefônica Brasil has a 12-month low of $8.02 and a 12-month high of $11.43. The firm has a market cap of $15.85 billion, a P/E ratio of 15.13, a price-to-earnings-growth ratio of 0.89 and a beta of 0.79. The company’s 50 day moving average is $8.63 and its 200-day moving average is $9.43.

Telefônica Brasil (NYSE:VIV) last announced its earnings results on Monday, July 29th. The Wireless communications provider reported $0.14 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.14. The business had revenue of $2.62 billion during the quarter, compared to analyst estimates of $2.51 billion. Telefônica Brasil had a net margin of 9.65% and a return on equity of 7.53%. During the same period in the previous year, the business posted $0.14 earnings per share. Sell-side analysts predict that Telefônica Brasil will post 0.63 earnings per share for the current year.

Telefônica Brasil Increases Dividend

The business also recently declared a — dividend, which was paid on Monday, July 29th. Investors of record on Friday, January 1st were issued a dividend of $0.0617 per share. This represents a yield of 3.3%. The ex-dividend date of this dividend was Monday, July 29th. This is a positive change from Telefônica Brasil’s previous — dividend of $0.02. Telefônica Brasil’s dividend payout ratio is presently 46.03%.

Hedge Funds Weigh In On Telefônica Brasil

A number of institutional investors have recently modified their holdings of VIV. Kathmere Capital Management LLC raised its position in Telefônica Brasil by 4.1% during the 2nd quarter. Kathmere Capital Management LLC now owns 28,877 shares of the Wireless communications provider’s stock worth $237,000 after buying an additional 1,150 shares during the last quarter. Millennium Management LLC lifted its position in Telefônica Brasil by 96.8% during the second quarter. Millennium Management LLC now owns 544,019 shares of the Wireless communications provider’s stock worth $4,466,000 after buying an additional 267,652 shares in the last quarter. AQR Capital Management LLC boosted its holdings in Telefônica Brasil by 20.0% in the 2nd quarter. AQR Capital Management LLC now owns 106,347 shares of the Wireless communications provider’s stock valued at $873,000 after purchasing an additional 17,724 shares during the last quarter. Squarepoint Ops LLC purchased a new position in Telefônica Brasil during the second quarter worth about $165,000. Finally, Bank of Montreal Can boosted its holdings in Telefônica Brasil by 9.8% during the 2nd quarter. Bank of Montreal Can now owns 45,587 shares of the Wireless communications provider’s stock valued at $380,000 after acquiring an additional 4,078 shares during the period. 5.16% of the stock is owned by hedge funds and other institutional investors.

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.