Telefonica Brasil (NYSE:VIV) Sets New 52-Week Low – Here’s What Happened

Telefonica Brasil S.A. (NYSE:VIV)’s share price reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $11.48 and last traded at $11.57, with a volume of 1928528 shares. The stock had previously closed at $11.64.

Analysts Set New Price Targets

A number of research firms have recently issued reports on VIV. Bradesco Corretora lowered shares of Telefonica Brasil to a “neutral” rating in a report on Tuesday, April 28th. The Goldman Sachs Group began coverage on Telefonica Brasil in a research note on Monday, May 18th. They set a “sell” rating and a $13.90 price target for the company. Wall Street Zen lowered shares of Telefonica Brasil from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 16th. Weiss Ratings downgraded Telefonica Brasil from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, July 7th. Finally, Scotiabank decreased their price target on shares of Telefonica Brasil from $15.70 to $15.40 and set a “sector perform” rating for the company in a report on Wednesday, May 27th. One equities research analyst has rated the stock with a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Reduce” and an average price target of $14.26.

Telefonica Brasil Stock Performance

The firm has a 50 day moving average price of $13.16 and a two-hundred day moving average price of $14.58. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.89 and a current ratio of 0.95. The company has a market capitalization of $18.82 billion, a P/E ratio of 14.83, a price-to-earnings-growth ratio of 0.66 and a beta of 0.57.

Telefonica Brasil (NYSE:VIV) last announced its earnings results on Monday, July 27th. The Wireless communications provider reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.04). Telefonica Brasil had a return on equity of 9.72% and a net margin of 10.64%.The firm had revenue of $3.04 billion for the quarter, compared to analyst estimates of $3.04 billion. On average, research analysts expect that Telefonica Brasil S.A. will post 0.96 earnings per share for the current fiscal year.

Telefonica Brasil Dividend Announcement

The business also recently disclosed a dividend, which was paid on Tuesday, July 21st. Investors of record on Friday, May 22nd were given a $0.4562 dividend. The ex-dividend date was Friday, May 22nd. Telefonica Brasil’s payout ratio is 76.92%.

Hedge Funds Weigh In On Telefonica Brasil

Several large investors have recently made changes to their positions in VIV. Invesco Ltd. boosted its holdings in Telefonica Brasil by 138.8% during the third quarter. Invesco Ltd. now owns 2,856,618 shares of the Wireless communications provider’s stock worth $36,422,000 after buying an additional 1,660,475 shares during the last quarter. Jane Street Group LLC bought a new stake in shares of Telefonica Brasil in the 2nd quarter valued at about $4,192,000. Kapitalo Investimentos Ltda acquired a new stake in shares of Telefonica Brasil in the 4th quarter valued at approximately $4,211,000. Millennium Management LLC boosted its stake in Telefonica Brasil by 477.6% during the 3rd quarter. Millennium Management LLC now owns 392,232 shares of the Wireless communications provider’s stock worth $5,001,000 after acquiring an additional 324,319 shares during the last quarter. Finally, Two Sigma Investments LP boosted its stake in Telefonica Brasil by 22.5% during the 3rd quarter. Two Sigma Investments LP now owns 1,672,947 shares of the Wireless communications provider’s stock worth $21,330,000 after acquiring an additional 307,501 shares during the last quarter. Institutional investors and hedge funds own 5.16% of the company’s stock.

About Telefonica Brasil

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.