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

Key Points

• Telefonica Brasil's shares hit a new 52-week high of $12.39 during trading, closing at $12.21 with over 1.4 million shares traded.
• Analyst ratings vary, with JPMorgan maintaining an "underweight" rating while Scotiabank raised its price target to $12.50 and Barclays set a new target at $13.00.
• The company reported $0.15 EPS for its last quarter, missing consensus estimates, and has a market capitalization of approximately $19.85 billion.

Telefonica Brasil S.A. (NYSE:VIV - Get Free Report) shares hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $12.39 and last traded at $12.21, with a volume of 1450331 shares. The stock had previously closed at $12.11.

Wall Street Analyst Weigh In

Several brokerages have issued reports on VIV. JPMorgan Chase & Co. reaffirmed an "underweight" rating on shares of Telefonica Brasil in a research note on Friday. Scotiabank boosted their price target on shares of Telefonica Brasil from $8.80 to $12.50 and gave the company a "sector perform" rating in a research report on Thursday, July 31st. Barclays reissued an "overweight" rating and set a $13.00 price target (up previously from $12.50) on shares of Telefonica Brasil in a research report on Thursday. The Goldman Sachs Group boosted their price target on shares of Telefonica Brasil from $9.20 to $10.30 and gave the company a "buy" rating in a research report on Wednesday, April 30th. Finally, Wall Street Zen cut shares of Telefonica Brasil from a "buy" rating to a "hold" rating in a research report on Sunday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Telefonica Brasil presently has a consensus rating of "Hold" and an average price target of $11.93.

Telefonica Brasil Stock Performance

The firm has a market capitalization of $19.85 billion, a price-to-earnings ratio of 19.69, a P/E/G ratio of 0.81 and a beta of 0.71. The company has a quick ratio of 0.92, a current ratio of 0.96 and a debt-to-equity ratio of 0.20. The stock has a 50-day moving average price of $11.15 and a 200 day moving average price of $13.42.

Telefonica Brasil (NYSE:VIV - Get Free Report) last announced its quarterly earnings data 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). Telefonica Brasil had a return on equity of 8.26% and a net margin of 10.13%. The company had revenue of $2.62 billion for the quarter, compared to analyst estimates of $14.48 billion. On average, analysts forecast that Telefonica Brasil S.A. will post 0.6 EPS for the current year.

Hedge Funds Weigh In On Telefonica Brasil

A number of institutional investors and hedge funds have recently added to or reduced their stakes in VIV. Envestnet Asset Management Inc. boosted its holdings in shares of Telefonica Brasil by 16.4% in the first quarter. Envestnet Asset Management Inc. now owns 449,213 shares of the Wireless communications provider's stock valued at $3,917,000 after acquiring an additional 63,241 shares during the period. Federated Hermes Inc. boosted its holdings in shares of Telefonica Brasil by 45.6% in the first quarter. Federated Hermes Inc. now owns 612,915 shares of the Wireless communications provider's stock valued at $5,345,000 after acquiring an additional 191,842 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of Telefonica Brasil by 3.9% in the fourth quarter. Renaissance Technologies LLC now owns 2,078,200 shares of the Wireless communications provider's stock valued at $15,690,000 after acquiring an additional 78,200 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Telefonica Brasil by 45.6% in the first quarter. Bank of New York Mellon Corp now owns 15,701 shares of the Wireless communications provider's stock valued at $137,000 after acquiring an additional 4,914 shares during the period. Finally, Schechter Investment Advisors LLC boosted its holdings in shares of Telefonica Brasil by 64.4% in the first quarter. Schechter Investment Advisors LLC now owns 74,812 shares of the Wireless communications provider's stock valued at $652,000 after acquiring an additional 29,308 shares during the period. 5.16% of the stock is owned by institutional investors and hedge funds.

Telefonica 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.

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