Scotiabank Cuts Telefônica Brasil (NYSE:VIV) Price Target to $9.20

Telefônica Brasil (NYSE:VIV - Free Report) had its target price lowered by Scotiabank from $10.40 to $9.20 in a research note published on Thursday morning,Benzinga reports. The brokerage currently has a sector perform rating on the Wireless communications provider's stock.

Several other equities analysts have also recently issued reports on VIV. StockNews.com upgraded Telefônica Brasil from a "buy" rating to a "strong-buy" rating in a report on Thursday, January 9th. The Goldman Sachs Group reduced their target price 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 downgraded shares of Telefônica Brasil from a "buy" rating to a "neutral" rating in a research note on Monday, December 9th. Finally, Barclays raised their price objective on shares of Telefônica Brasil from $11.50 to $11.80 and gave the company an "equal weight" rating in a research note on Monday, November 25th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Telefônica Brasil presently has a consensus rating of "Moderate Buy" and a consensus target price of $9.97.

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Telefônica Brasil Price Performance

Shares of NYSE VIV traded up $0.14 during trading on Thursday, reaching $8.31. The company had a trading volume of 774,168 shares, compared to its average volume of 853,479. Telefônica Brasil has a 52 week low of $7.47 and a 52 week high of $10.82. The business's 50 day moving average price is $8.40 and its 200-day moving average price is $8.97. The stock has a market cap of $13.73 billion, a PE ratio of 13.19, a PEG ratio of 0.84 and a beta of 0.79. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.91 and a current ratio of 0.96.

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

Institutional Trading of Telefônica Brasil

A number of institutional investors and hedge funds have recently modified their holdings of VIV. GAMMA Investing LLC grew its holdings in Telefônica Brasil by 67.8% during the fourth quarter. GAMMA Investing LLC now owns 3,818 shares of the Wireless communications provider's stock valued at $29,000 after purchasing an additional 1,543 shares during the period. Allworth Financial LP grew its holdings in shares of Telefônica Brasil by 86.4% in the 4th quarter. Allworth Financial LP now owns 4,169 shares of the Wireless communications provider's stock valued at $31,000 after buying an additional 1,933 shares during the period. R Squared Ltd bought a new stake in shares of Telefônica Brasil in the 4th quarter valued at $37,000. Parvin Asset Management LLC acquired a new stake in Telefônica Brasil during the 4th quarter worth $51,000. Finally, Blue Trust Inc. lifted its holdings in Telefônica Brasil by 87.5% during the third quarter. Blue Trust Inc. now owns 6,026 shares of the Wireless communications provider's stock worth $62,000 after acquiring an additional 2,812 shares in the last quarter. 5.16% of the stock is owned by institutional investors.

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.