Telefonica Brasil S.A. (NYSE:VIV) Lowered to “Hold” at Zacks Investment Research
Telefonica Brasil S.A. (NYSE:VIV) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Thursday.
According to Zacks, “Telefonica Brasil continues to rule the Brazilian wireless market following the establishment of Vivo as a commercial brand for all services. The company also continues to fortify its leadership position in both data and post-paid segments through various attractive postpaid and prepaid data plan. Telefonica Brasil is also investing in technology upgrades and broadband network infrastructure expansion to retain itself in the competitive industry. On the other side, impact of wireless substitution, intense competition in fixed line voice business, exposure to stringent regulatory measures and foreign exchange currency risks are other near-term risks that may affect the company's growth prospects. Over the past three months, the stock price declined by 4.31% compared with the Zacks categorized Diversified Communication Services' industry's growth of 0.56%.”
A number of other equities research analysts have also issued reports on VIV. BidaskClub lowered Telefonica Brasil from a “buy” rating to a “hold” rating in a research note on Thursday, June 22nd. Royal Bank Of Canada restated a “hold” rating and issued a $15.50 target price on shares of Telefonica Brasil in a report on Tuesday, May 16th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Telefonica Brasil has an average rating of “Hold” and an average price target of $16.33.
Shares of Telefonica Brasil (NYSE VIV) opened at 14.00 on Thursday. The firm has a market cap of $23.64 billion, a PE ratio of 20.23 and a beta of 1.32. The stock’s 50 day moving average is $14.12 and its 200-day moving average is $14.39. Telefonica Brasil has a 52 week low of $11.95 and a 52 week high of $15.69.
The company also recently disclosed a dividend, which was paid on Thursday, July 6th. Investors of record on Thursday, July 6th were given a dividend of $0.015 per share. The ex-dividend date was Monday, July 3rd. Telefonica Brasil’s payout ratio is 92.86%.
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Several hedge funds have recently made changes to their positions in the company. Guggenheim Capital LLC raised its position in Telefonica Brasil by 90.5% in the fourth quarter. Guggenheim Capital LLC now owns 354,048 shares of the Wireless communications provider’s stock worth $4,737,000 after buying an additional 168,234 shares during the last quarter. Bank of America Corp DE increased its position in shares of Telefonica Brasil by 6.8% in the first quarter. Bank of America Corp DE now owns 1,931,898 shares of the Wireless communications provider’s stock valued at $28,689,000 after buying an additional 122,697 shares during the last quarter. Two Sigma Investments LP acquired a new position in shares of Telefonica Brasil during the fourth quarter valued at approximately $1,874,000. Comerica Bank increased its position in shares of Telefonica Brasil by 12.3% in the fourth quarter. Comerica Bank now owns 65,208 shares of the Wireless communications provider’s stock valued at $919,000 after buying an additional 7,152 shares during the last quarter. Finally, AXA acquired a new position in shares of Telefonica Brasil during the first quarter valued at approximately $177,000. 10.96% of the stock is owned by institutional investors.
Telefonica Brasil Company Profile
Telefonica Brasil SA is a mobile telecommunications company in Brazil offering postpaid mobile services. The Company also operates as a fixed telecommunications company in the state of Sao Paulo. The Company markets its mobile services under its Vivo brand. It offers its clients a portfolio of products, including mobile and fixed voice, mobile data, fixed broadband, ultra-fast broadband, Pay television, information technology and digital services.
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