Bank of America Upgrades Telefonica Brasil (NYSE:VIV) to “Neutral”

Telefonica Brasil (NYSE:VIV) was upgraded by research analysts at Bank of America from an “underperform” rating to a “neutral” rating in a research note issued to investors on Tuesday, Marketbeat.com reports.

Other analysts have also recently issued research reports about the company. Morgan Stanley set a $14.00 price target on Telefonica Brasil in a research report on Thursday, August 20th. Barclays set a $16.00 target price on shares of Telefonica Brasil in a report on Wednesday, July 29th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Telefonica Brasil in a research report on Friday, October 2nd. One analyst has rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus target price of $14.66.

Telefonica Brasil Price Performance

Shares of VIV traded up $0.23 during trading hours on Tuesday, hitting $12.39. 249,466 shares of the company were exchanged, compared to its average volume of 1,168,363. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.95 and a quick ratio of 0.89. The company has a market capitalization of $20.16 billion, a PE ratio of 15.86, a PEG ratio of 0.69 and a beta of 0.52. The firm has a fifty day simple moving average of $11.78 and a 200-day simple moving average of $13.43. Telefonica Brasil has a one year low of $11.17 and a one year high of $17.25.

Telefonica Brasil (NYSE:VIV) last announced its earnings results on Thursday, July 23rd. The Wireless communications provider reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.04). The firm had revenue of $3.04 billion for the quarter, compared to analyst estimates of $3.04 billion. Telefonica Brasil had a net margin of 10.64% and a return on equity of 9.72%. As a group, sell-side analysts predict that Telefonica Brasil will post 0.94 earnings per share for the current year.

Institutional Investors Weigh In On Telefonica Brasil

Institutional investors and hedge funds have recently made changes to their positions in the company. TrueMark Investments LLC bought a new stake in shares of Telefonica Brasil in the first quarter worth about $4,255,000. Opal Capital LLC bought a new position in Telefonica Brasil during the 1st quarter worth about $4,255,000. Tidal Investments LLC raised its stake in shares of Telefonica Brasil by 54.5% in the 2nd quarter. Tidal Investments LLC now owns 477,011 shares of the Wireless communications provider’s stock valued at $6,277,000 after purchasing an additional 168,185 shares during the period. B. Metzler seel. Sohn & Co. AG raised its stake in shares of Telefonica Brasil by 286.3% in the 2nd quarter. B. Metzler seel. Sohn & Co. AG now owns 140,456 shares of the Wireless communications provider’s stock valued at $1,848,000 after purchasing an additional 104,100 shares during the period. Finally, Barometer Capital Management Inc. bought a new stake in shares of Telefonica Brasil in the first quarter valued at about $1,277,000. Institutional investors own 5.16% of the company’s stock.

Telefonica Brasil Company Profile

Telefônica Brasil SA, operating under the Vivo brand, is a telecommunications company serving consumers, businesses and public-sector organizations throughout Brazil. The company provides mobile voice and data services, wireless connectivity and related digital communications solutions.

Its fixed-line business includes broadband internet delivered primarily through fiber-optic networks, as well as voice and other connectivity services. Telefônica Brasil also offers information technology, cloud, cybersecurity, Internet of Things and managed communications solutions to corporate and institutional customers.