Weiss Ratings Downgrades Telefonica Brasil (NYSE:VIV) to Hold (C+)

Key Points

• Weiss Ratings has downgraded Telefonica Brasil from a "buy (b-)" rating to a "hold (c+)", reflecting concerns about the company's performance.
• Despite the downgrade, Telefonica Brasil's stock rose by 2.1% to reach $12.71 during trading, with a market cap of approximately $20.67 billion.
• Analysts have mixed opinions on the stock, with two rating it as a Buy, five as Hold, and one as Sell, leading to an average target price of $12.53.

Telefonica Brasil (NYSE:VIV - Get Free Report) was downgraded by stock analysts at Weiss Ratings from a "buy (b-)" rating to a "hold (c+)" rating in a research report issued to clients and investors on Friday,Weiss Ratings reports.

Other equities research analysts have also recently issued research reports about the company. Citigroup began coverage on Telefonica Brasil in a report on Wednesday, September 10th. They issued a "neutral" rating for the company. Scotiabank lifted their target price on shares of 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. The Goldman Sachs Group lifted their price objective on Telefonica Brasil from $11.40 to $12.60 and gave the company a "buy" rating in a research report on Tuesday, August 19th. Finally, Wall Street Zen upgraded Telefonica Brasil from a "hold" rating to a "buy" rating in a research note on Saturday, August 30th. Two research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $12.53.

Telefonica Brasil Trading Up 2.1%

Shares of VIV traded up $0.27 during mid-day trading on Friday, reaching $12.71. The company's stock had a trading volume of 282,413 shares, compared to its average volume of 1,178,927. The stock has a market cap of $20.67 billion, a PE ratio of 20.51, a P/E/G ratio of 0.84 and a beta of 0.77. The company's fifty day moving average price is $12.38 and its two-hundred day moving average price is $11.57. Telefonica Brasil has a 52 week low of $7.47 and a 52 week high of $12.92. The company has a current ratio of 0.98, a quick ratio of 0.95 and a debt-to-equity ratio of 0.20.

Telefonica Brasil (NYSE:VIV - Get Free Report) last released its quarterly earnings data on Monday, July 28th. The Wireless communications provider reported $0.15 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.01). Telefonica Brasil had a return on equity of 8.32% and a net margin of 10.13%.The company had revenue of $2.62 billion during the quarter, compared to analysts' expectations of $14.48 billion. On average, analysts predict that Telefonica Brasil will post 0.6 earnings per share for the current fiscal year.

Institutional Trading of Telefonica Brasil

A number of institutional investors and hedge funds have recently modified their holdings of VIV. Rhumbline Advisers boosted its position 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 valued at $37,000 after buying an additional 3,266 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Telefonica Brasil by 145.5% in the first quarter. GAMMA Investing LLC now owns 9,375 shares of the Wireless communications provider's stock worth $82,000 after acquiring an additional 5,557 shares during the period. Oppenheimer Asset Management Inc. lifted its position in Telefonica Brasil by 80.3% during the first quarter. Oppenheimer Asset Management Inc. now owns 39,345 shares of the Wireless communications provider's stock valued at $343,000 after purchasing an additional 17,529 shares during the period. Bessemer Group Inc. boosted its holdings in Telefonica Brasil by 8.8% in the first quarter. Bessemer Group Inc. now owns 28,546 shares of the Wireless communications provider's stock worth $249,000 after purchasing an additional 2,301 shares during the last quarter. Finally, BSW Wealth Partners grew its position in Telefonica Brasil by 10.5% in the 1st quarter. BSW Wealth Partners now owns 24,548 shares of the Wireless communications provider's stock worth $214,000 after purchasing an additional 2,336 shares during the period. Institutional investors own 5.16% of the company's stock.

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.

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