Telefonica Brasil (NYSE:VIV) Hits New 52-Week High on Earnings Beat

Telefonica Brasil S.A. (NYSE:VIVGet Free Report)’s stock price reached a new 52-week high during mid-day trading on Tuesday following a stronger than expected earnings report. The company traded as high as $16.55 and last traded at $16.5520, with a volume of 290024 shares changing hands. The stock had previously closed at $16.24.

The Wireless communications provider reported $0.22 EPS for the quarter, beating the consensus estimate of $0.17 by $0.05. The firm had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.88 billion. Telefonica Brasil had a net margin of 10.37% and a return on equity of 8.67%.

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Analysts Set New Price Targets

VIV has been the topic of a number of research analyst reports. Wall Street Zen raised Telefonica Brasil from a “buy” rating to a “strong-buy” rating in a report on Sunday, January 11th. Zacks Research upgraded Telefonica Brasil from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 9th. Barclays reaffirmed an “overweight” rating and issued a $14.50 price objective on shares of Telefonica Brasil in a research note on Monday, November 3rd. Bank of America initiated coverage on Telefonica Brasil in a research note on Thursday, December 11th. They set an “underperform” rating and a $14.00 target price for the company. Finally, Weiss Ratings downgraded shares of Telefonica Brasil from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, February 9th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, three have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $13.12.

View Our Latest Research Report on Telefonica Brasil

Hedge Funds Weigh In On Telefonica Brasil

Large investors have recently bought and sold shares of the company. Arax Advisory Partners boosted its holdings in Telefonica Brasil by 54.4% in the fourth quarter. Arax Advisory Partners now owns 3,773 shares of the Wireless communications provider’s stock valued at $45,000 after acquiring an additional 1,330 shares during the last quarter. Rhumbline Advisers raised its holdings in Telefonica Brasil by 337.7% during the 1st quarter. Rhumbline Advisers now owns 4,233 shares of the Wireless communications provider’s stock worth $37,000 after purchasing an additional 3,266 shares during the last quarter. Westfuller Advisors LLC acquired a new position in shares of Telefonica Brasil in the 3rd quarter worth approximately $59,000. EverSource Wealth Advisors LLC boosted its stake in shares of Telefonica Brasil by 214.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,766 shares of the Wireless communications provider’s stock valued at $54,000 after purchasing an additional 3,248 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in shares of Telefonica Brasil by 45.7% in the 2nd quarter. PNC Financial Services Group Inc. now owns 5,163 shares of the Wireless communications provider’s stock valued at $59,000 after purchasing an additional 1,619 shares during the last quarter. 5.16% of the stock is currently owned by institutional investors.

Telefonica Brasil Price Performance

The firm has a market cap of $26.86 billion, a P/E ratio of 25.05, a P/E/G ratio of 0.89 and a beta of 0.71. The company has a quick ratio of 0.96, a current ratio of 1.02 and a debt-to-equity ratio of 0.19. The business’s 50 day moving average is $13.41 and its two-hundred day moving average is $12.82.

About Telefonica Brasil

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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.

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