Telefonica Brasil (NYSE:VIV) Issues Quarterly Earnings Results
Telefonica Brasil (NYSE:VIV) reported quarterly earnings of $0.22 EPS, exceeding analysts' expectations of $0.19. The company has a return on equity of 8.32% and a net margin of 10.13%. Despite the positive earnings, the stock fell 1.8% to $12.55. Analysts have mixed ratings on the stock, with two Buy ratings, five Hold ratings, and one Sell rating. The average target price is $12.53. Institutional investors hold 5.16% of the company's shares, indicating some interest in the stock.
Telefonica Brasil (NYSE:VIV - Get Free Report) released its earnings results on Thursday. The Wireless communications provider reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.03, Zacks reports. Telefonica Brasil had a return on equity of 8.32% and a net margin of 10.13%.
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Telefonica Brasil Trading Down 1.8%
Telefonica Brasil stock traded down $0.23 during trading hours on Thursday, reaching $12.55. 1,353,490 shares of the company's stock were exchanged, compared to its average volume of 1,177,080. The firm's 50 day simple moving average is $12.41 and its 200 day simple moving average is $11.38. Telefonica Brasil has a twelve month low of $7.47 and a twelve month high of $12.97. The company has a quick ratio of 0.95, a current ratio of 0.98 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $20.41 billion, a PE ratio of 20.23, a PEG ratio of 0.87 and a beta of 0.77.
Analyst Upgrades and Downgrades
VIV has been the topic of several research analyst reports. Scotiabank raised their price objective on Telefonica Brasil from $8.80 to $12.50 and gave the company a "sector perform" rating in a research note on Thursday, July 31st. Zacks Research cut shares of Telefonica Brasil from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 22nd. Barclays restated an "overweight" rating and issued a $13.00 target price (up previously from $12.50) on shares of Telefonica Brasil in a research report on Thursday, August 7th. Morgan Stanley set a $12.00 price target on shares of Telefonica Brasil in a report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. reiterated an "underweight" rating on shares of Telefonica Brasil in a research note on Friday, August 8th. Two analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $12.53.
Check Out Our Latest Research Report on Telefonica Brasil
Institutional Investors Weigh In On Telefonica Brasil
A number of hedge funds have recently added to or reduced their stakes in VIV. Rhumbline Advisers grew its holdings in Telefonica Brasil by 337.7% during the first quarter. Rhumbline Advisers now owns 4,233 shares of the Wireless communications provider's stock worth $37,000 after buying an additional 3,266 shares in the last quarter. Advisors Asset Management Inc. purchased a new position in Telefonica Brasil in the first quarter valued at approximately $52,000. EverSource Wealth Advisors LLC grew its stake in shares of Telefonica Brasil by 214.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,766 shares of the Wireless communications provider's stock worth $54,000 after acquiring an additional 3,248 shares during the period. Corient Private Wealth LLC raised its position in shares of Telefonica Brasil by 100.9% in the second quarter. Corient Private Wealth LLC now owns 42,984 shares of the Wireless communications provider's stock valued at $490,000 after purchasing an additional 21,584 shares during the period. Finally, Vident Advisory LLC lifted its position in shares of Telefonica Brasil by 36.1% during the second quarter. Vident Advisory LLC now owns 46,299 shares of the Wireless communications provider's stock worth $528,000 after acquiring an additional 12,276 shares in the last quarter. Institutional investors and hedge funds own 5.16% of the company's stock.
About Telefonica Brasil
(Get Free Report)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.
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