Telefonica Brasil (NYSE:VIV) Coverage Initiated at Citigroup

Key Points

• Citigroup has initiated coverage on Telefonica Brasil (NYSE:VIV) with a "neutral" rating, indicating a cautious outlook for the stock.
• Goldman Sachs has increased its price target on the stock from $11.40 to $12.60 and rates it a "buy," while Zacks lowered their rating from "strong-buy" to "hold."
• Telefonica Brasil reported a quarterly EPS of $0.15, missing estimates, and has a current average rating of "Hold" with a target price of $12.70.

Citigroup assumed coverage on shares of Telefonica Brasil (NYSE:VIV - Free Report) in a research note published on Wednesday morning, MarketBeat Ratings reports. The firm issued a neutral rating on the Wireless communications provider's stock.

Several other equities research analysts have also weighed in on VIV. Wall Street Zen raised Telefonica Brasil from a "hold" rating to a "buy" rating in a report on Saturday, August 30th. Zacks Research lowered Telefonica Brasil from a "strong-buy" rating to a "hold" rating in a report on Friday, August 22nd. JPMorgan Chase & Co. reissued an "underweight" rating on shares of Telefonica Brasil in a report on Friday, August 8th. Barclays reissued an "overweight" rating and issued a $13.00 price objective (up previously from $12.50) on shares of Telefonica Brasil in a report on Thursday, August 7th. Finally, Scotiabank lifted their price objective on Telefonica Brasil from $8.80 to $12.50 and gave the stock a "sector perform" rating in a report on Thursday, July 31st. Two investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Telefonica Brasil has a consensus rating of "Hold" and an average target price of $12.70.

Telefonica Brasil Stock Up 1.6%

NYSE:VIV traded up $0.20 during trading hours on Wednesday, hitting $12.67. 239,667 shares of the company traded hands, compared to its average volume of 1,262,166. The company has a quick ratio of 0.95, a current ratio of 0.98 and a debt-to-equity ratio of 0.20. The firm's 50-day simple moving average is $11.88 and its 200-day simple moving average is $12.50. Telefonica Brasil has a one year low of $7.47 and a one year high of $12.92. The company has a market cap of $20.60 billion, a PE ratio of 20.44, a PEG ratio of 0.85 and a beta of 0.81.

Telefonica Brasil (NYSE:VIV - Get Free Report) last released its earnings results on Monday, July 28th. The Wireless communications provider reported $0.15 EPS for the quarter, missing analysts' consensus estimates of $0.16 by ($0.01). The business had revenue of $2.62 billion for the quarter, compared to the consensus estimate of $14.48 billion. Telefonica Brasil had a return on equity of 8.32% and a net margin of 10.13%. Equities analysts predict that Telefonica Brasil will post 0.6 earnings per share for the current year.

Institutional Trading of Telefonica Brasil

Hedge funds and other institutional investors have recently bought and sold shares of the company. SBI Securities Co. Ltd. boosted its stake in Telefonica Brasil by 39.3% in the first quarter. SBI Securities Co. Ltd. now owns 3,783 shares of the Wireless communications provider's stock worth $33,000 after buying an additional 1,067 shares in the last quarter. Rhumbline Advisers boosted its stake in Telefonica Brasil by 337.7% in the first quarter. Rhumbline Advisers now owns 4,233 shares of the Wireless communications provider's stock worth $37,000 after buying an additional 3,266 shares in the last quarter. SVB Wealth LLC purchased a new stake in Telefonica Brasil in the first quarter worth approximately $41,000. Advisors Asset Management Inc. purchased a new stake in Telefonica Brasil in the first quarter worth approximately $52,000. Finally, EverSource Wealth Advisors LLC boosted its stake in Telefonica Brasil by 214.0% in the second quarter. EverSource Wealth Advisors LLC now owns 4,766 shares of the Wireless communications provider's stock worth $54,000 after buying an additional 3,248 shares in the last quarter. Hedge funds and other institutional investors own 5.16% of the company's stock.

About Telefonica 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.