Telefônica Brasil (NYSE:VIV) Shares Gap Down – Here’s Why

Telefônica Brasil S.A. (NYSE:VIV)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $8.99, but opened at $8.71. Telefônica Brasil shares last traded at $8.76, with a volume of 63,652 shares trading hands.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on VIV shares. StockNews.com upgraded shares of Telefônica Brasil from a “buy” rating to a “strong-buy” rating in a research note on Thursday, November 14th. Scotiabank lifted their price objective on shares of Telefônica Brasil from $9.20 to $10.40 and gave the company a “sector perform” rating in a research note on Friday, September 20th. Finally, Barclays lifted their price objective on shares of Telefônica Brasil from $11.00 to $11.50 and gave the company an “equal weight” rating in a research note on Thursday, August 1st. Two investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $10.97.

Telefônica Brasil Stock Down 3.0 %

The firm has a market cap of $14.51 billion, a P/E ratio of 14.27, a price-to-earnings-growth ratio of 0.89 and a beta of 0.81. The stock’s 50 day simple moving average is $9.56 and its 200 day simple moving average is $9.11. 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 (NYSE:VIV) last posted its earnings results on Tuesday, November 5th. The Wireless communications provider reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.03. Telefônica Brasil had a net margin of 9.78% and a return on equity of 7.77%. The firm had revenue of $2.53 billion during the quarter, compared to analyst estimates of $2.52 billion. During the same quarter in the prior year, the business posted $0.18 EPS. Research analysts anticipate that Telefônica Brasil S.A. will post 0.61 EPS for the current year.

Institutional Trading of Telefônica Brasil

Several institutional investors have recently made changes to their positions in the company. Itau Unibanco Holding S.A. purchased a new position in shares of Telefônica Brasil in the 3rd quarter worth about $5,967,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Telefônica Brasil in the 3rd quarter worth about $5,135,000. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of 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 last quarter. Brandes Investment Partners LP boosted its holdings in shares of Telefônica Brasil by 14.3% in the 2nd quarter. Brandes Investment Partners LP now owns 2,206,334 shares of the Wireless communications provider’s stock worth $18,261,000 after buying an additional 275,569 shares during the last quarter. Finally, Millennium Management LLC boosted its holdings in shares of Telefônica Brasil by 96.8% in the 2nd quarter. Millennium Management LLC now owns 544,019 shares of the Wireless communications provider’s stock worth $4,466,000 after buying an additional 267,652 shares during the last quarter. Institutional investors own 5.16% of the company’s stock.

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.