Telefonica Brasil (NYSE:VIV) Stock Price Expected to Rise, Scotiabank Analyst Says

Key Points

• Scotiabank has raised its price target for Telefonica Brasil from $8.80 to $12.50, suggesting an 11.26% potential upside from the stock's previous close.
• The stock currently has a consensus rating of "Hold" with three analysts recommending a hold and two a buy, reflecting mixed sentiment among analysts.
• Telefonica Brasil recently reported $0.15 EPS for the quarter, missing expectations, with revenue of $2.62 billion, significantly lower than the consensus estimate of $14.48 billion.

Telefonica Brasil (NYSE:VIV - Free Report) had its price target lifted by Scotiabank from $8.80 to $12.50 in a research report released on Thursday,Benzinga reports. The firm currently has a sector perform rating on the Wireless communications provider's stock.

A number of other brokerages have also recently issued reports on VIV. The Goldman Sachs Group increased their price objective on shares of Telefonica Brasil from $9.20 to $10.30 and gave the stock a "buy" rating in a research note on Wednesday, April 30th. Wall Street Zen cut shares of Telefonica Brasil from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. Finally, Barclays raised their target price on shares of Telefonica Brasil from $11.50 to $12.50 and gave the company an "overweight" rating in a research note on Monday, July 14th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $11.77.

Telefonica Brasil Stock Performance

Telefonica Brasil stock traded up $0.25 during midday trading on Thursday, reaching $11.57. 64,724 shares of the company traded hands, compared to its average volume of 1,343,159. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.96 and a quick ratio of 0.92. Telefonica Brasil has a 12 month low of $7.47 and a 12 month high of $11.96. The firm has a market capitalization of $19.11 billion, a price-to-earnings ratio of 18.65, a price-to-earnings-growth ratio of 0.75 and a beta of 0.71. The business has a 50 day moving average of $10.91 and a two-hundred day moving average of $13.62.

Telefonica Brasil (NYSE:VIV - Get Free Report) last released its quarterly earnings results on Monday, July 28th. The Wireless communications provider reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.01). Telefonica Brasil had a return on equity of 8.26% and a net margin of 10.13%. The business had revenue of $2.62 billion during the quarter, compared to the consensus estimate of $14.48 billion. As a group, research analysts predict that Telefonica Brasil will post 0.6 earnings per share for the current year.

Hedge Funds Weigh In On Telefonica Brasil

A number of large investors have recently made changes to their positions in the company. Bessemer Group Inc. boosted its stake in shares of Telefonica Brasil by 19.7% during the 2nd quarter. Bessemer Group Inc. now owns 34,176 shares of the Wireless communications provider's stock worth $390,000 after purchasing an additional 5,630 shares during the period. Envestnet Asset Management Inc. lifted its holdings in Telefonica Brasil by 62.3% during the 2nd quarter. Envestnet Asset Management Inc. now owns 729,193 shares of the Wireless communications provider's stock valued at $8,313,000 after buying an additional 279,980 shares in the last quarter. Oppenheimer Asset Management Inc. raised its holdings in shares of Telefonica Brasil by 2.8% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 40,454 shares of the Wireless communications provider's stock valued at $461,000 after purchasing an additional 1,109 shares in the last quarter. Stegent Equity Advisors Inc. bought a new stake in shares of Telefonica Brasil in the 2nd quarter valued at about $408,000. Finally, Carrera Capital Advisors bought a new position in shares of Telefonica Brasil during the 2nd quarter worth approximately $156,000. 5.16% of the stock is owned by hedge funds and other institutional investors.

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.