The Goldman Sachs Group Cuts Telefônica Brasil (NYSE:VIV) Price Target to $9.20

Telefônica Brasil (NYSE:VIV) had its price target cut by The Goldman Sachs Group from $10.60 to $9.20 in a research note published on Thursday,Benzinga reports. They currently have a buy rating on the Wireless communications provider’s stock.

Other equities analysts have also issued reports about the company. StockNews.com lowered Telefônica Brasil from a “strong-buy” rating to a “buy” rating in a research report on Thursday, December 12th. Scotiabank lifted their price target on Telefônica Brasil from $9.20 to $10.40 and gave the stock a “sector perform” rating in a research note on Friday, September 20th. New Street Research cut Telefônica Brasil from a “buy” rating to a “neutral” rating in a research note on Monday, December 9th. Finally, Barclays increased their target price on Telefônica Brasil from $11.50 to $11.80 and gave the stock an “equal weight” rating in a report on Monday, November 25th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $10.60.

Telefônica Brasil Stock Up 1.3 %

Shares of Telefônica Brasil stock opened at $8.04 on Thursday. Telefônica Brasil has a twelve month low of $7.66 and a twelve month high of $11.43. The stock has a market cap of $13.37 billion, a price-to-earnings ratio of 12.76, a price-to-earnings-growth ratio of 0.78 and a beta of 0.78. The company has a current ratio of 0.96, a quick ratio of 0.91 and a debt-to-equity ratio of 0.19. The company has a fifty day moving average price of $8.87 and a 200 day moving average price of $9.03.

Telefônica Brasil (NYSE:VIV) last posted its earnings results on Tuesday, November 5th. The Wireless communications provider reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.03. Telefônica Brasil had a net margin of 9.78% and a return on equity of 7.77%. The business had revenue of $2.53 billion for the quarter, compared to analysts’ expectations of $2.52 billion. During the same period in the previous year, the company posted $0.18 earnings per share. Equities research analysts forecast that Telefônica Brasil will post 0.63 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Telefônica Brasil

Large investors have recently made changes to their positions in the company. Stifel Financial Corp raised its stake in Telefônica Brasil by 41.1% during the 3rd quarter. Stifel Financial Corp now owns 264,413 shares of the Wireless communications provider’s stock valued at $2,716,000 after acquiring an additional 77,005 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Telefônica Brasil by 49.0% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,171,789 shares of the Wireless communications provider’s stock valued at $12,034,000 after purchasing an additional 385,207 shares in the last quarter. Acadian Asset Management LLC lifted its holdings in Telefônica Brasil by 308.7% in the second quarter. Acadian Asset Management LLC now owns 264,192 shares of the Wireless communications provider’s stock worth $2,166,000 after purchasing an additional 199,546 shares during the period. Frank Rimerman Advisors LLC acquired a new position in Telefônica Brasil during the 2nd quarter valued at about $842,000. Finally, Brandes Investment Partners LP increased its stake in Telefônica Brasil by 14.3% during the 2nd quarter. Brandes Investment Partners LP now owns 2,206,334 shares of the Wireless communications provider’s stock valued at $18,261,000 after buying an additional 275,569 shares during the period. Institutional investors and hedge funds own 5.16% of the company’s stock.

About Telefônica 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.