Telefonica Brasil (NYSE:VIV) Hits New 52-Week High - Here's What Happened

Key Points

• Telefonica Brasil's stock price reached a new 52-week high of $12.49, with a trading volume of 16,629 shares.
• Analysts have mixed views on the stock, with Goldman Sachs raising its price target to $10.30, while Wall Street Zen lowered its rating from "buy" to "hold."
• Telefonica Brasil reported $0.15 earnings per share for the last quarter, which fell short of analysts' expectations by $0.01.

Telefonica Brasil S.A. (NYSE:VIV - Get Free Report)'s share price hit a new 52-week high on Monday . The stock traded as high as $12.49 and last traded at $12.49, with a volume of 16629 shares trading hands. The stock had previously closed at $12.40.

Analyst Ratings Changes

VIV has been the topic of several research reports. The Goldman Sachs Group upped their price objective on Telefonica Brasil from $9.20 to $10.30 and gave the company a "buy" rating in a research note on Wednesday, April 30th. Barclays reissued an "overweight" rating and set a $13.00 price target (up from $12.50) on shares of Telefonica Brasil in a research report on Thursday, August 7th. Scotiabank lifted their price objective on shares of Telefonica Brasil from $8.80 to $12.50 and gave the stock a "sector perform" rating in a report on Thursday, July 31st. Wall Street Zen lowered shares of Telefonica Brasil from a "buy" rating to a "hold" rating in a research note on Sunday, August 10th. Finally, JPMorgan Chase & Co. restated an "underweight" rating on shares of Telefonica Brasil in a research report on Friday, August 8th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $11.93.

Telefonica Brasil Stock Up 0.7%

The stock has a market cap of $20.31 billion, a P/E ratio of 20.15, a P/E/G ratio of 0.84 and a beta of 0.71. The firm has a 50 day simple moving average of $11.31 and a two-hundred day simple moving average of $13.28. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.95 and a current ratio of 0.98.

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

Institutional Trading of Telefonica Brasil

Several institutional investors have recently modified their holdings of the company. Robeco Institutional Asset Management B.V. boosted its position in shares of Telefonica Brasil by 2.8% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 15,613,608 shares of the Wireless communications provider's stock valued at $136,151,000 after purchasing an additional 420,973 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in Telefonica Brasil by 54.8% during the second quarter. Arrowstreet Capital Limited Partnership now owns 5,754,523 shares of the Wireless communications provider's stock valued at $65,602,000 after buying an additional 2,036,349 shares in the last quarter. Brandes Investment Partners LP boosted its holdings in shares of Telefonica Brasil by 3.5% in the second quarter. Brandes Investment Partners LP now owns 3,480,597 shares of the Wireless communications provider's stock worth $39,679,000 after buying an additional 119,002 shares during the period. Aberdeen Group plc increased its position in shares of Telefonica Brasil by 4.2% in the first quarter. Aberdeen Group plc now owns 2,844,839 shares of the Wireless communications provider's stock worth $24,807,000 after acquiring an additional 114,849 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in shares of Telefonica Brasil by 36.4% during the first quarter. Invesco Ltd. now owns 1,445,527 shares of the Wireless communications provider's stock valued at $12,605,000 after acquiring an additional 385,848 shares during the period. Institutional investors and hedge funds 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.

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