Scotiabank Has Lowered Expectations for Telefônica Brasil (NYSE:VIV) Stock Price

Telefônica Brasil (NYSE:VIV) had its price target lowered by investment analysts at Scotiabank from $10.40 to $9.20 in a research note issued on Thursday,Benzinga reports. The firm currently has a “sector perform” rating on the Wireless communications provider’s stock. Scotiabank’s target price would suggest a potential upside of 12.75% from the stock’s previous close.

A number of other equities analysts have also weighed in on VIV. The Goldman Sachs Group decreased their target price on Telefônica Brasil from $10.60 to $9.20 and set a “buy” rating on the stock in a research note on Thursday, December 19th. StockNews.com upgraded Telefônica Brasil from a “buy” rating to a “strong-buy” rating in a research note on Thursday, January 9th. Barclays upped their target price on Telefônica Brasil from $11.50 to $11.80 and gave the stock an “equal weight” rating in a research note on Monday, November 25th. Finally, New Street Research cut Telefônica Brasil from a “buy” rating to a “neutral” rating in a report on Monday, December 9th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $10.07.

Telefônica Brasil Stock Performance

NYSE:VIV opened at $8.16 on Thursday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.91 and a current ratio of 0.96. Telefônica Brasil has a 52-week low of $7.47 and a 52-week high of $11.10. The firm has a market cap of $13.49 billion, a price-to-earnings ratio of 12.95, a PEG ratio of 0.84 and a beta of 0.79. The business’s fifty day moving average is $8.40 and its 200 day moving average is $8.97.

Telefônica Brasil (NYSE:VIV) last announced its earnings results on Tuesday, February 25th. The Wireless communications provider reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.01. The business had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.39 billion. Telefônica Brasil had a return on equity of 7.77% and a net margin of 9.78%. Research analysts predict that Telefônica Brasil will post 0.6 EPS for the current year.

Institutional Investors Weigh In On Telefônica Brasil

Institutional investors have recently bought and sold shares of the stock. Stifel Financial Corp lifted its holdings in Telefônica Brasil by 41.1% in the 3rd quarter. Stifel Financial Corp now owns 264,413 shares of the Wireless communications provider’s stock worth $2,716,000 after buying an additional 77,005 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Telefônica Brasil by 49.0% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,171,789 shares of the Wireless communications provider’s stock worth $12,034,000 after buying an additional 385,207 shares during the period. Robeco Institutional Asset Management B.V. lifted its holdings in Telefônica Brasil by 7.4% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 15,192,635 shares of the Wireless communications provider’s stock worth $114,704,000 after buying an additional 1,053,218 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Telefônica Brasil in the 3rd quarter worth approximately $5,135,000. Finally, GAMMA Investing LLC lifted its holdings in Telefônica Brasil by 67.8% in the 4th quarter. GAMMA Investing LLC now owns 3,818 shares of the Wireless communications provider’s stock worth $29,000 after buying an additional 1,543 shares during the period. 5.16% of the stock is currently owned by hedge funds and other institutional investors.

Telefônica Brasil Company Profile

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.