Telefonica Brasil's (VIV) Underweight Rating Reaffirmed at JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. has reaffirmed its "underweight" rating on Telefonica Brasil (NYSE:VIV) as part of a recent research report.
• The stock currently has a consensus rating of "Hold" among analysts, with a price target averaging $11.93.
• Despite mixed ratings from different firms, Telefonica Brasil's stock price opened at $11.93 and experienced a 0.4% decline recently.

JPMorgan Chase & Co. reissued their underweight rating on shares of Telefonica Brasil (NYSE:VIV - Free Report) in a report issued on Friday, MarketBeat reports.

Several other brokerages have also issued reports on VIV. The Goldman Sachs Group increased their price objective on Telefonica Brasil from $9.20 to $10.30 and gave the stock a "buy" rating in a report on Wednesday, April 30th. Wall Street Zen upgraded Telefonica Brasil from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Scotiabank lifted their price objective on Telefonica Brasil from $8.80 to $12.50 and gave the stock a "sector perform" rating in a research note on Thursday, July 31st. Finally, Barclays reissued an "overweight" rating and set a $13.00 target price (up from $12.50) on shares of Telefonica Brasil in a research report on Thursday. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, Telefonica Brasil presently has an average rating of "Hold" and a consensus price target of $11.93.

Telefonica Brasil Price Performance

Shares of VIV traded down $0.05 during trading hours on Friday, hitting $12.09. 1,659,636 shares of the company were exchanged, compared to its average volume of 1,152,431. The company has a market capitalization of $19.67 billion, a PE ratio of 19.50, a PEG ratio of 0.81 and a beta of 0.71. 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 firm has a fifty day simple moving average of $11.11 and a 200-day simple moving average of $13.48. Telefonica Brasil has a one year low of $7.47 and a one year high of $12.17.

Telefonica Brasil (NYSE:VIV - Get Free Report) last released its quarterly earnings data 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). The company 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 8.26% and a net margin of 10.13%. As a group, sell-side analysts predict that Telefonica Brasil will post 0.6 earnings per share for the current year.

Institutional Investors Weigh In On Telefonica Brasil

A number of institutional investors have recently added to or reduced their stakes in the stock. Robeco Institutional Asset Management B.V. boosted its holdings in Telefonica Brasil by 2.8% during the first 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 in the last quarter. Aberdeen Group plc boosted its holdings in shares of Telefonica Brasil by 4.2% in the 1st 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. Renaissance Technologies LLC boosted its holdings in shares of Telefonica Brasil by 3.9% in the 4th quarter. Renaissance Technologies LLC now owns 2,078,200 shares of the Wireless communications provider's stock worth $15,690,000 after acquiring an additional 78,200 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Telefonica Brasil by 36.4% in the 1st quarter. Invesco Ltd. now owns 1,445,527 shares of the Wireless communications provider's stock worth $12,605,000 after acquiring an additional 385,848 shares in the last quarter. Finally, Barclays PLC boosted its holdings in shares of Telefonica Brasil by 2.6% in the 4th quarter. Barclays PLC now owns 1,275,565 shares of the Wireless communications provider's stock worth $9,630,000 after acquiring an additional 31,820 shares in the last quarter. 5.16% of the stock is owned by institutional investors and hedge funds.

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.