Telefonica Brasil (NYSE:VIV) Price Target Raised to $15.30

Telefonica Brasil (NYSE:VIV) had its target price increased by Scotiabank from $12.50 to $15.30 in a report published on Monday morning,Benzinga reports. Scotiabank currently has a sector perform rating on the Wireless communications provider’s stock.

Several other brokerages have also issued reports on VIV. Zacks Research raised shares of Telefonica Brasil from a “hold” rating to a “strong-buy” rating in a report on Monday, February 9th. Bank of America started coverage on Telefonica Brasil in a report on Thursday, December 11th. They set an “underperform” rating and a $14.00 target price for the company. Barclays cut Telefonica Brasil from an “overweight” rating to an “equal weight” rating and increased their target price for the company from $14.50 to $16.00 in a research report on Thursday, March 12th. Wall Street Zen upgraded Telefonica Brasil from a “buy” rating to a “strong-buy” rating in a report on Sunday, January 11th. Finally, UBS Group cut Telefonica Brasil from a “buy” rating to a “sell” rating in a research note on Wednesday, March 11th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, three have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, Telefonica Brasil presently has a consensus rating of “Hold” and an average target price of $13.98.

Telefonica Brasil Stock Up 1.6%

NYSE:VIV opened at $16.17 on Monday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.00 and a quick ratio of 0.94. Telefonica Brasil has a 1-year low of $8.19 and a 1-year high of $16.95. The company has a 50-day moving average of $15.46 and a 200 day moving average of $13.48. The firm has a market cap of $26.30 billion, a PE ratio of 23.09, a price-to-earnings-growth ratio of 0.70 and a beta of 0.70.

Telefonica Brasil (NYSE:VIV) last posted its earnings results on Thursday, February 12th. The Wireless communications provider reported $0.21 EPS for the quarter. Telefonica Brasil had a net margin of 10.42% and a return on equity of 9.15%. The business had revenue of $2.83 billion for the quarter. As a group, research analysts anticipate that Telefonica Brasil will post 0.6 EPS for the current fiscal year.

Telefonica Brasil Announces Dividend

The company also recently announced a dividend, which will be paid on Tuesday, July 21st. Shareholders of record on Friday, May 22nd will be paid a $0.4562 dividend. The ex-dividend date is Friday, May 22nd. Telefonica Brasil’s dividend payout ratio (DPR) is 34.29%.

Hedge Funds Weigh In On Telefonica Brasil

A number of large investors have recently made changes to their positions in VIV. Rhumbline Advisers boosted its position in shares of Telefonica Brasil by 337.7% in the 1st 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 in the last quarter. Arax Advisory Partners increased its position in Telefonica Brasil by 54.4% during the 4th quarter. Arax Advisory Partners now owns 3,773 shares of the Wireless communications provider’s stock valued at $45,000 after buying an additional 1,330 shares in the last quarter. Advisors Asset Management Inc. acquired a new position in Telefonica Brasil during the 1st quarter valued at about $52,000. EverSource Wealth Advisors LLC raised its stake in Telefonica Brasil by 214.0% in the second quarter. EverSource Wealth Advisors LLC now owns 4,766 shares of the Wireless communications provider’s stock valued at $54,000 after buying an additional 3,248 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in 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. 5.16% of the stock is owned by institutional investors and hedge funds.

Telefonica Brasil Company Profile

Telefônica Brasil SA, commonly marketed under the Vivo brand, is one of Brazil’s largest telecommunications providers, offering a broad range of consumer and enterprise communications services. The company’s core activities include mobile voice and data services, fixed-line telephony, broadband internet (including fiber-to-the-home), and pay-TV solutions. It also provides ICT and managed services for business customers, such as cloud, data center, connectivity, Internet of Things (IoT) and security solutions.

Vivo operates a nationwide network across Brazil and serves both individual consumers and corporate clients.