Scotiabank Cuts Telefonica Brasil (NYSE:VIV) Price Target to $15.40

Telefonica Brasil (NYSE:VIV) had its price target decreased by research analysts at Scotiabank from $15.70 to $15.40 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a “sector perform” rating on the Wireless communications provider’s stock. Scotiabank’s price objective would suggest a potential upside of 13.54% from the stock’s current price.

A number of other analysts also recently commented on VIV. New Street Research upgraded shares of Telefonica Brasil from a “neutral” rating to a “buy” rating in a research report on Tuesday, April 7th. Bradesco Corretora cut shares of Telefonica Brasil to a “neutral” rating in a report on Tuesday, April 28th. UBS Group lowered shares of Telefonica Brasil from a “buy” rating to a “sell” rating in a research note on Wednesday, March 11th. The Goldman Sachs Group assumed coverage on Telefonica Brasil in a report on Monday, May 18th. They set a “sell” rating and a $13.90 target price on the stock. Finally, Weiss Ratings lowered Telefonica Brasil from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, May 13th. Two investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus price target of $14.36.

Telefonica Brasil Stock Performance

Shares of NYSE:VIV traded up $0.06 on Wednesday, hitting $13.56. The company’s stock had a trading volume of 80,080 shares, compared to its average volume of 971,620. The company has a market capitalization of $22.06 billion, a price-to-earnings ratio of 18.32, a price-to-earnings-growth ratio of 0.78 and a beta of 0.63. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.03 and a current ratio of 1.10. Telefonica Brasil has a 12 month low of $9.73 and a 12 month high of $17.25. The stock’s 50-day moving average is $15.49 and its two-hundred day moving average is $14.29.

Telefonica Brasil (NYSE:VIV) last issued its quarterly earnings data on Thursday, May 7th. The Wireless communications provider reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.02). The company had revenue of $2.98 billion for the quarter, compared to the consensus estimate of $2.98 billion. Telefonica Brasil had a net margin of 10.49% and a return on equity of 9.32%. On average, equities research analysts forecast that Telefonica Brasil will post 0.88 EPS for the current year.

Institutional Investors Weigh In On Telefonica Brasil

A number of institutional investors and hedge funds have recently modified their holdings of VIV. Coldstream Capital Management Inc. grew its holdings in shares of Telefonica Brasil by 6.0% in the 4th quarter. Coldstream Capital Management Inc. now owns 11,802 shares of the Wireless communications provider’s stock worth $140,000 after acquiring an additional 672 shares during the last quarter. Ieq Capital LLC lifted its holdings in shares of Telefonica Brasil by 3.4% during the fourth quarter. Ieq Capital LLC now owns 22,285 shares of the Wireless communications provider’s stock valued at $264,000 after purchasing an additional 727 shares during the last quarter. Kestra Private Wealth Services LLC lifted its holdings in shares of Telefonica Brasil by 2.9% during the fourth quarter. Kestra Private Wealth Services LLC now owns 26,638 shares of the Wireless communications provider’s stock valued at $316,000 after purchasing an additional 744 shares during the last quarter. BSW Wealth Partners boosted its position in shares of Telefonica Brasil by 2.1% in the 4th quarter. BSW Wealth Partners now owns 36,804 shares of the Wireless communications provider’s stock valued at $436,000 after purchasing an additional 770 shares during the period. Finally, Compound Planning Inc. increased its stake in Telefonica Brasil by 5.3% in the 1st quarter. Compound Planning Inc. now owns 16,750 shares of the Wireless communications provider’s stock worth $266,000 after purchasing an additional 839 shares in the last quarter. Institutional investors and hedge funds own 5.16% of the company’s stock.

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.