Telefonica Brasil (NYSE:VIV) Downgraded by Wall Street Zen to "Hold"

Key Points

• Wall Street Zen has downgraded Telefonica Brasil from a "buy" to a "hold" rating, reflecting concerns about the company's performance.
• Telefonica Brasil's stock has a consensus rating of "Hold" with an average price target of $11.93, after several firms adjusted their ratings and price targets.
• Despite recent downgrades, the company's market capitalization stands at $19.98 billion, with a current price of $12.09 per share.

Wall Street Zen lowered shares of Telefonica Brasil (NYSE:VIV - Free Report) from a buy rating to a hold rating in a report issued on Sunday morning.

VIV has been the subject of several other research reports. The Goldman Sachs Group raised their price target on Telefonica Brasil from $9.20 to $10.30 and gave the stock a "buy" rating in a research report on Wednesday, April 30th. Scotiabank increased their price objective on Telefonica Brasil from $8.80 to $12.50 and gave the company a "sector perform" rating in a research note on Thursday, July 31st. JPMorgan Chase & Co. reissued an "underweight" rating on shares of Telefonica Brasil in a research note on Friday, August 8th. Finally, Barclays reaffirmed 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 analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, Telefonica Brasil presently has an average rating of "Hold" and a consensus price target of $11.93.

Telefonica Brasil Price Performance

NYSE VIV traded down $0.08 during mid-day trading on Friday, hitting $12.17. The stock had a trading volume of 312,800 shares, compared to its average volume of 1,334,134. The company has a 50 day simple moving average of $11.19 and a 200 day simple moving average of $13.42. The company has a market cap of $19.79 billion, a price-to-earnings ratio of 19.62, a P/E/G ratio of 0.81 and a beta of 0.71. Telefonica Brasil has a 52-week low of $7.47 and a 52-week high of $12.39. The company has a quick ratio of 0.92, a current ratio of 0.96 and a debt-to-equity ratio of 0.20.

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Envestnet Asset Management Inc. increased its position in shares of Telefonica Brasil by 16.4% during the first quarter. Envestnet Asset Management Inc. now owns 449,213 shares of the Wireless communications provider's stock worth $3,917,000 after acquiring an additional 63,241 shares during the last quarter. Federated Hermes Inc. raised its position in shares of Telefonica Brasil by 45.6% in the 1st quarter. Federated Hermes Inc. now owns 612,915 shares of the Wireless communications provider's stock valued at $5,345,000 after purchasing an additional 191,842 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of Telefonica Brasil by 3.9% during the 4th quarter. Renaissance Technologies LLC now owns 2,078,200 shares of the Wireless communications provider's stock valued at $15,690,000 after buying an additional 78,200 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Telefonica Brasil by 45.6% during the first quarter. Bank of New York Mellon Corp now owns 15,701 shares of the Wireless communications provider's stock worth $137,000 after buying an additional 4,914 shares in the last quarter. Finally, Schechter Investment Advisors LLC raised its holdings in 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 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.