Telefonica Brasil (NYSE:VIV) Posts Quarterly Earnings Results, Beats Expectations By $0.06 EPS

Telefonica Brasil (NYSE:VIV) posted its quarterly earnings data on Tuesday. The Wireless communications provider reported $0.30 EPS for the quarter, beating the consensus estimate of $0.24 by $0.06, reports. Telefonica Brasil had a return on equity of 9.72% and a net margin of 10.64%. The firm had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.10 billion.

Telefonica Brasil Stock Up 6.1%

NYSE:VIV traded up $0.71 during mid-day trading on Wednesday, hitting $12.38. The stock had a trading volume of 596,619 shares, compared to its average volume of 1,227,235. Telefonica Brasil has a twelve month low of $10.70 and a twelve month high of $17.25. The stock has a 50-day simple moving average of $11.90 and a two-hundred day simple moving average of $13.70. The company has a current ratio of 0.95, a quick ratio of 0.89 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $20.13 billion, a PE ratio of 15.87, a PEG ratio of 0.68 and a beta of 0.53.

Analysts Set New Price Targets

A number of equities research analysts have commented on VIV shares. Weiss Ratings restated a “hold (c+)” rating on shares of Telefonica Brasil in a research report on Friday, October 2nd. Bank of America upgraded Telefonica Brasil from an “underperform” rating to a “neutral” rating in a report on Tuesday, October 13th. Barclays set a $14.00 price objective on Telefonica Brasil and gave the stock an “equal weight” rating in a research report on Thursday, October 29th. Finally, Morgan Stanley set a $14.00 price objective on shares of Telefonica Brasil in a report on Thursday, August 20th. One equities research analyst has rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Telefonica Brasil currently has a consensus rating of “Reduce” and an average target price of $14.26.

About Telefonica Brasil

Telefônica Brasil S.A. is a Brazilian telecommunications company that provides services under the Vivo brand. It is part of the Spanish Telefónica Group and serves consumers, businesses and public-sector customers across Brazil. Its offerings include mobile voice and data, fixed-line telephone service, broadband internet—including fiber connectivity—and pay television. The company also provides connectivity and digital services for business customers. Telefônica Brasil traces its origins to the 1998 privatization of Brazil’s telecommunications sector, when Telefónica acquired Telesp, the former state-controlled telephone operator in São Paulo.