Telefônica Brasil (NYSE:VIV) Shares Gap Up - Still a Buy?

Telefônica Brasil S.A. (NYSE:VIV - Get Free Report)'s share price gapped up prior to trading on Thursday . The stock had previously closed at $8.99, but opened at $9.20. Telefônica Brasil shares last traded at $9.43, with a volume of 37,244 shares trading hands.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on VIV shares. Barclays raised shares of Telefônica Brasil from an "equal weight" rating to an "overweight" rating and decreased their target price for the stock from $11.80 to $11.50 in a research note on Monday, March 3rd. StockNews.com raised Telefônica Brasil from a "buy" rating to a "strong-buy" rating in a report on Friday, March 7th. The Goldman Sachs Group dropped their target price on Telefônica Brasil from $10.60 to $9.20 and set a "buy" rating for the company in a research report on Thursday, December 19th. Scotiabank reduced their price target on Telefônica Brasil from $10.40 to $9.20 and set a "sector perform" rating on the stock in a report on Thursday, February 27th. Finally, New Street Research lowered shares of Telefônica Brasil from a "buy" rating to a "neutral" rating in a report on Monday, December 9th. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $9.97.

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Telefônica Brasil Stock Performance

The firm has a market capitalization of $14.45 billion, a P/E ratio of 13.88, a price-to-earnings-growth ratio of 0.84 and a beta of 0.60. The company has a 50-day moving average of $8.81 and a 200-day moving average of $8.81. The company has a current ratio of 0.96, a quick ratio of 0.91 and a debt-to-equity ratio of 0.19.

Telefônica Brasil (NYSE:VIV - Get Free Report) last issued its quarterly earnings results on Tuesday, February 25th. The Wireless communications provider reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.01. The company had revenue of $2.50 billion during the quarter, compared to analysts' expectations of $2.39 billion. Telefônica Brasil had a return on equity of 7.77% and a net margin of 9.78%. On average, equities analysts anticipate that Telefônica Brasil S.A. will post 0.6 earnings per share for the current fiscal year.

Telefônica Brasil Increases Dividend

The company also recently declared a dividend, which was paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 25th were given a $0.0215 dividend. The ex-dividend date was Tuesday, March 25th. This is an increase from Telefônica Brasil's previous dividend of $0.02. Telefônica Brasil's payout ratio is 45.90%.

Hedge Funds Weigh In On Telefônica Brasil

Hedge funds have recently bought and sold shares of the company. Robeco Institutional Asset Management B.V. lifted its stake in shares of Telefônica Brasil by 7.4% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 15,192,635 shares of the Wireless communications provider's stock valued at $114,704,000 after purchasing an additional 1,053,218 shares during the period. Millennium Management LLC increased its holdings in Telefônica Brasil by 283.2% in the fourth quarter. Millennium Management LLC now owns 592,234 shares of the Wireless communications provider's stock worth $4,471,000 after purchasing an additional 437,678 shares in the last quarter. Two Sigma Investments LP increased its holdings in Telefônica Brasil by 151.9% in the fourth quarter. Two Sigma Investments LP now owns 686,792 shares of the Wireless communications provider's stock worth $5,185,000 after purchasing an additional 414,193 shares in the last quarter. Sei Investments Co. lifted its stake in Telefônica Brasil by 67.6% in the fourth quarter. Sei Investments Co. now owns 912,148 shares of the Wireless communications provider's stock valued at $6,887,000 after buying an additional 367,975 shares during the period. Finally, Walleye Capital LLC bought a new position in shares of Telefônica Brasil during the 4th quarter worth approximately $2,749,000. Institutional investors own 5.16% of the company's stock.

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.