Telefonica Brasil (NYSE:VIV) Coverage Initiated at Bank of America

Bank of America began coverage on shares of Telefonica Brasil (NYSE:VIV) in a research note issued on Thursday. The brokerage set an “underperform” rating and a $14.00 price target on the Wireless communications provider’s stock. Bank of America‘s target price would indicate a potential upside of 13.50% from the company’s current price.

Other analysts have also issued research reports about the stock. Morgan Stanley set a $12.00 price target on shares of Telefonica Brasil in a research note on Wednesday, October 8th. Barclays reiterated an “overweight” rating and set a $14.50 price objective on shares of Telefonica Brasil in a research note on Monday, November 3rd. Zacks Research cut Telefonica Brasil from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 22nd. Citigroup initiated coverage on shares of Telefonica Brasil in a report on Wednesday, September 10th. They issued a “neutral” rating on the stock. Finally, Wall Street Zen raised Telefonica Brasil from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 8th. Two investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $13.12.

Telefonica Brasil Price Performance

Telefonica Brasil stock opened at $12.34 on Thursday. The stock’s 50 day moving average is $12.54 and its 200-day moving average is $11.95. The company has a market capitalization of $20.07 billion, a price-to-earnings ratio of 18.69, a PEG ratio of 1.10 and a beta of 0.69. Telefonica Brasil has a 12 month low of $7.47 and a 12 month high of $13.31. The company has a current ratio of 1.02, a quick ratio of 0.96 and a debt-to-equity ratio of 0.19.

Telefonica Brasil (NYSE:VIV) last announced its quarterly earnings data on Friday, November 14th. The Wireless communications provider reported $0.11 earnings per share for the quarter. The firm had revenue of $2.81 billion during the quarter. Telefonica Brasil had a return on equity of 8.67% and a net margin of 10.37%. Equities research analysts expect that Telefonica Brasil will post 0.6 EPS for the current year.

Institutional Investors Weigh In On Telefonica Brasil

Several institutional investors and hedge funds have recently bought and sold shares of the business. Rhumbline Advisers increased its stake in shares of Telefonica Brasil by 337.7% during the first quarter. Rhumbline Advisers now owns 4,233 shares of the Wireless communications provider’s stock valued at $37,000 after buying an additional 3,266 shares during the period. Westfuller Advisors LLC purchased a new position in Telefonica Brasil during the 3rd quarter valued at $59,000. SVB Wealth LLC bought a new position in Telefonica Brasil in the 1st quarter worth $41,000. EverSource Wealth Advisors LLC raised its holdings in Telefonica Brasil by 214.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,766 shares of the Wireless communications provider’s stock worth $54,000 after purchasing an additional 3,248 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its position in shares of Telefonica Brasil by 543.7% in the 2nd quarter. Farther Finance Advisors LLC now owns 4,918 shares of the Wireless communications provider’s stock worth $56,000 after purchasing an additional 4,154 shares during the period. Hedge funds and other institutional investors own 5.16% of the company’s stock.

Telefonica Brasil Company Profile

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.