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 research note issued to investors on Sunday.

Other equities research analysts also recently issued research reports about the stock. Scotiabank upped their price objective on shares of Telefonica Brasil from $8.80 to $12.50 and gave the stock a "sector perform" rating in a report on Thursday, July 31st. Barclays restated an "overweight" rating and set a $13.00 price objective (up previously from $12.50) on shares of Telefonica Brasil in a report on Thursday, August 7th. The Goldman Sachs Group upped their target price on Telefonica Brasil from $9.20 to $10.30 and gave the company a "buy" rating in a report on Wednesday, April 30th. Finally, JPMorgan Chase & Co. reissued an "underweight" rating on shares of Telefonica Brasil in a research note on Friday, August 8th. 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 stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $11.93.

Telefonica Brasil Stock Up 1.4%

Shares of VIV traded up $0.17 during mid-day trading on Friday, reaching $12.34. 460,256 shares of the stock traded hands, compared to its average volume of 1,329,705. The firm has a market cap of $20.07 billion, a price-to-earnings ratio of 19.88, a P/E/G ratio of 0.83 and a beta of 0.71. The stock has a fifty day simple moving average of $11.22 and a 200 day simple moving average of $13.41. Telefonica Brasil has a 12-month low of $7.47 and a 12-month high of $12.45. 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 issued its quarterly earnings results on Monday, July 28th. The Wireless communications provider reported $0.15 earnings per share (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 during the quarter, compared to the consensus estimate of $14.48 billion. Sell-side analysts expect that Telefonica Brasil will post 0.6 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. SBI Securities Co. Ltd. raised its stake in Telefonica Brasil by 39.3% during the first quarter. SBI Securities Co. Ltd. now owns 3,783 shares of the Wireless communications provider's stock worth $33,000 after acquiring an additional 1,067 shares in the last quarter. Rhumbline Advisers grew its holdings in shares of Telefonica Brasil by 337.7% during the first quarter. Rhumbline Advisers now owns 4,233 shares of the Wireless communications provider's stock worth $37,000 after purchasing an additional 3,266 shares during the last quarter. SVB Wealth LLC bought a new position in Telefonica Brasil in the first quarter valued at about $41,000. EverSource Wealth Advisors LLC raised its position in shares of Telefonica Brasil by 214.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,766 shares of the Wireless communications provider's stock valued at $54,000 after acquiring an additional 3,248 shares during the period. Finally, Farther Finance Advisors LLC raised its position in shares of Telefonica Brasil by 543.7% in the 2nd quarter. Farther Finance Advisors LLC now owns 4,918 shares of the Wireless communications provider's stock valued at $56,000 after acquiring an additional 4,154 shares during the period. 5.16% of the stock is currently 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.