Telefonica Brasil (NYSE:VIV) Given "Underweight" Rating 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 research report released on Friday morning, Marketbeat reports.

VIV has been the subject of several other research reports. Wall Street Zen upgraded Telefonica Brasil from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Scotiabank boosted their price objective on shares of Telefonica Brasil from $8.80 to $12.50 and gave the stock a "sector perform" rating in a research report on Thursday, July 31st. The Goldman Sachs Group upped their target price on shares of Telefonica Brasil from $9.20 to $10.30 and gave the company a "buy" rating in a report on Wednesday, April 30th. Finally, Barclays reiterated an "overweight" rating and set a $13.00 price target (up from $12.50) on shares of Telefonica Brasil in a research note on Thursday, August 7th. One equities research 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. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $11.93.

Telefonica Brasil Stock Up 0.0%

Shares of Telefonica Brasil stock traded up $0.01 during trading on Friday, hitting $12.23. 343,238 shares of the stock were exchanged, compared to its average volume of 1,339,825. 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's 50-day moving average price is $11.15 and its 200 day moving average price is $13.42. The stock has a market cap of $19.89 billion, a price-to-earnings ratio of 19.72, a price-to-earnings-growth ratio of 0.81 and a beta of 0.71. Telefonica Brasil has a 12-month low of $7.47 and a 12-month high of $12.39.

Telefonica Brasil (NYSE:VIV - Get Free Report) last posted its quarterly earnings results 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 business had revenue of $2.62 billion during the quarter, compared to analyst estimates of $14.48 billion. Telefonica Brasil had a net margin of 10.13% and a return on equity of 8.26%. As a group, analysts forecast that Telefonica Brasil will post 0.6 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Telefonica Brasil

A number of hedge funds have recently modified their holdings of the business. SBI Securities Co. Ltd. raised its position in Telefonica Brasil by 39.3% in the 1st quarter. SBI Securities Co. Ltd. now owns 3,783 shares of the Wireless communications provider's stock valued at $33,000 after purchasing an additional 1,067 shares during the last quarter. Laird Norton Wetherby Wealth Management LLC increased its stake in Telefonica Brasil by 1.3% in the fourth quarter. Laird Norton Wetherby Wealth Management LLC now owns 82,053 shares of the Wireless communications provider's stock valued at $620,000 after purchasing an additional 1,086 shares during the period. Oppenheimer Asset Management Inc. increased its stake in Telefonica Brasil by 2.8% in the second 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 during the period. PNC Financial Services Group Inc. raised its holdings in shares of Telefonica Brasil by 45.7% in the second quarter. PNC Financial Services Group Inc. now owns 5,163 shares of the Wireless communications provider's stock valued at $59,000 after buying an additional 1,619 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Telefonica Brasil by 8.2% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,383 shares of the Wireless communications provider's stock worth $244,000 after buying an additional 1,623 shares during the period. 5.16% of the stock is currently 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.