Telefonica Brasil (NYSE:VIV) Sets New 12-Month High - Here's Why

Telefonica Brasil S.A. (NYSE:VIV - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $11.33 and last traded at $11.39, with a volume of 159443 shares. The stock had previously closed at $11.11.

Analyst Ratings Changes

VIV has been the subject of several analyst reports. The Goldman Sachs Group boosted their price target on Telefonica Brasil from $9.20 to $10.30 and gave the company a "buy" rating in a report on Wednesday, April 30th. Wall Street Zen raised Telefonica Brasil from a "hold" rating to a "buy" rating in a research note on Saturday, June 7th. Finally, Barclays upgraded shares of Telefonica Brasil from an "equal weight" rating to an "overweight" rating and cut their price target for the company from $23.60 to $23.00 in a report on Monday, March 3rd. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Telefonica Brasil currently has a consensus rating of "Moderate Buy" and an average price target of $17.23.

Telefonica Brasil Stock Up 2.6%

The firm has a 50-day simple moving average of $10.09 and a 200 day simple moving average of $14.37. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.96 and a quick ratio of 0.92. The company has a market capitalization of $18.83 billion, a PE ratio of 18.64, a price-to-earnings-growth ratio of 1.26 and a beta of 0.72.

Telefonica Brasil (NYSE:VIV - Get Free Report) last announced its earnings results on Monday, May 12th. The Wireless communications provider reported $0.11 EPS for the quarter, missing the consensus estimate of $0.12 by ($0.01). The company had revenue of $2.53 billion for the quarter, compared to analysts' expectations of $14.41 billion. Telefonica Brasil had a net margin of 10.07% and a return on equity of 8.09%. On average, research analysts predict that Telefonica Brasil S.A. will post 0.6 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Modern Wealth Management LLC acquired a new position in Telefonica Brasil in the 1st quarter worth $423,000. Rhumbline Advisers raised its position in shares of Telefonica Brasil by 337.7% in the 1st quarter. Rhumbline Advisers now owns 4,233 shares of the Wireless communications provider's stock valued at $37,000 after purchasing an additional 3,266 shares in the last quarter. Strs Ohio acquired a new position in shares of Telefonica Brasil in the 1st quarter valued at about $7,147,000. Ascent Group LLC acquired a new stake in Telefonica Brasil during the first quarter worth about $158,000. Finally, Advisors Asset Management Inc. acquired a new position in Telefonica Brasil in the first quarter valued at approximately $52,000. 5.16% of the stock is currently owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.