Telefonica Brasil (NYSE:VIV) Upgraded to Neutral at Bank of America

Telefonica Brasil (NYSE:VIV) was upgraded by stock analysts at Bank of America from an “underperform” rating to a “neutral” rating in a research note issued to investors on Tuesday, MarketBeat reports.

Several other brokerages have also issued reports on VIV. Barclays set a $16.00 price target on shares of Telefonica Brasil in a research note on Wednesday, July 29th. Weiss Ratings restated a “hold (c+)” rating on shares of Telefonica Brasil in a research note on Friday, October 2nd. Finally, Morgan Stanley set a $14.00 price objective on Telefonica Brasil in a report on Thursday, August 20th. One research analyst has rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Telefonica Brasil has an average rating of “Reduce” and a consensus price target of $14.66.

Telefonica Brasil Stock Up 1.9%

Shares of VIV traded up $0.23 during mid-day trading on Tuesday, hitting $12.39. 249,466 shares of the company’s stock were exchanged, compared to its average volume of 1,168,363. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.95 and a quick ratio of 0.89. Telefonica Brasil has a 52 week low of $11.17 and a 52 week high of $17.25. The company has a market cap of $20.16 billion, a PE ratio of 15.86, a P/E/G ratio of 0.69 and a beta of 0.52. The company has a 50-day simple moving average of $11.78 and a 200 day simple moving average of $13.43.

Telefonica Brasil (NYSE:VIV) last announced its earnings results on Thursday, July 23rd. The Wireless communications provider reported $0.19 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.04). Telefonica Brasil had a return on equity of 9.72% and a net margin of 10.64%. The business had revenue of $3.04 billion for the quarter, compared to analyst estimates of $3.04 billion. On average, research analysts forecast that Telefonica Brasil will post 0.94 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. QRG Capital Management Inc. acquired a new stake in Telefonica Brasil in the 2nd quarter valued at about $181,000. Tidal Investments LLC raised its stake in Telefonica Brasil by 54.5% in the second quarter. Tidal Investments LLC now owns 477,011 shares of the Wireless communications provider’s stock valued at $6,277,000 after buying an additional 168,185 shares during the period. Allworth Financial LP raised its stake in Telefonica Brasil by 74.6% in the second quarter. Allworth Financial LP now owns 4,547 shares of the Wireless communications provider’s stock valued at $60,000 after buying an additional 1,943 shares during the period. Nykredit A S acquired a new stake in shares of Telefonica Brasil in the second quarter valued at approximately $625,000. Finally, B. Metzler seel. Sohn & Co. AG increased its holdings in shares of Telefonica Brasil by 286.3% during the 2nd quarter. B. Metzler seel. Sohn & Co. AG now owns 140,456 shares of the Wireless communications provider’s stock worth $1,848,000 after acquiring an additional 104,100 shares during the last quarter. Institutional investors own 5.16% of the company’s stock.

Telefonica Brasil Company Profile

Telefônica Brasil SA, operating under the Vivo brand, is a telecommunications company serving consumers, businesses and public-sector organizations throughout Brazil. The company provides mobile voice and data services, wireless connectivity and related digital communications solutions.

Its fixed-line business includes broadband internet delivered primarily through fiber-optic networks, as well as voice and other connectivity services. Telefônica Brasil also offers information technology, cloud, cybersecurity, Internet of Things and managed communications solutions to corporate and institutional customers.