Brokerages Set Telefônica Brasil S.A. (NYSE:VIV) Price Target at $9.97

Telefônica Brasil S.A. (NYSE:VIV) has been given an average rating of “Moderate Buy” by the five brokerages that are covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $9.97.

Several research analysts have weighed in on VIV shares. The Goldman Sachs Group dropped their price objective on shares of Telefônica Brasil from $10.60 to $9.20 and set a “buy” rating on the stock in a research note on Thursday, December 19th. New Street Research lowered Telefônica Brasil from a “buy” rating to a “neutral” rating in a report on Monday, December 9th. Barclays upgraded Telefônica Brasil from an “equal weight” rating to an “overweight” rating and lowered their target price for the company from $11.80 to $11.50 in a research note on Monday, March 3rd. Scotiabank cut their price target on Telefônica Brasil from $10.40 to $9.20 and set a “sector perform” rating for the company in a research note on Thursday, February 27th. Finally, StockNews.com raised Telefônica Brasil from a “buy” rating to a “strong-buy” rating in a research note on Friday, March 7th.

Institutional Investors Weigh In On Telefônica Brasil

A number of large investors have recently added to or reduced their stakes in VIV. Oppenheimer Asset Management Inc. lifted its stake in shares of Telefônica Brasil by 5.5% in the third quarter. Oppenheimer Asset Management Inc. now owns 23,708 shares of the Wireless communications provider’s stock worth $243,000 after buying an additional 1,236 shares during the last quarter. Natixis Advisors LLC boosted its holdings in Telefônica Brasil by 2.8% during the third quarter. Natixis Advisors LLC now owns 85,787 shares of the Wireless communications provider’s stock valued at $881,000 after acquiring an additional 2,304 shares during the period. Caprock Group LLC grew its position in shares of Telefônica Brasil by 37.7% in the third quarter. Caprock Group LLC now owns 71,738 shares of the Wireless communications provider’s stock valued at $737,000 after purchasing an additional 19,628 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Telefônica Brasil in the third quarter worth about $198,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Telefônica Brasil by 49.0% during 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 purchasing an additional 385,207 shares during the last quarter. Institutional investors own 5.16% of the company’s stock.

Telefônica Brasil Price Performance

VIV opened at $8.60 on Wednesday. The firm has a market capitalization of $14.21 billion, a P/E ratio of 13.65, a PEG ratio of 0.84 and a beta of 0.76. The stock has a fifty day moving average of $8.70 and a 200-day moving average of $8.86. The company has a quick ratio of 0.91, a current ratio of 0.96 and a debt-to-equity ratio of 0.19. Telefônica Brasil has a 12-month low of $7.47 and a 12-month high of $10.41.

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

Telefônica Brasil Increases Dividend

The business also recently disclosed a dividend, which was paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 25th were issued a dividend of $0.0215 per share. This is a positive change from Telefônica Brasil’s previous dividend of $0.02. The ex-dividend date was Tuesday, March 25th. Telefônica Brasil’s dividend payout ratio is currently 50.82%.

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.