Telefonica Brasil (NYSE:VIV) Share Price Crosses Above Two Hundred Day Moving Average – Here’s Why

Telefonica Brasil S.A. (NYSE:VIV) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $11.80 and traded as high as $13.07. Telefonica Brasil shares last traded at $12.9150, with a volume of 798,010 shares.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. JPMorgan Chase & Co. restated an “underweight” rating on shares of Telefonica Brasil in a research note on Friday, August 8th. Wall Street Zen upgraded Telefonica Brasil from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 8th. Weiss Ratings downgraded Telefonica Brasil from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, November 25th. The Goldman Sachs Group increased their price target on Telefonica Brasil from $11.40 to $12.60 and gave the company a “buy” rating in a research report on Tuesday, August 19th. Finally, Zacks Research lowered shares of Telefonica Brasil from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 22nd. Two investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $12.90.

Telefonica Brasil Trading Down 2.3%

The company has a quick ratio of 0.95, a current ratio of 0.98 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $21.01 billion, a PE ratio of 20.83, a PEG ratio of 0.87 and a beta of 0.76. The business’s 50-day moving average is $12.54 and its two-hundred day moving average is $11.80.

Telefonica Brasil (NYSE:VIV) last posted its earnings results on Thursday, October 30th. The Wireless communications provider reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.03. The business had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $15.01 billion. Telefonica Brasil had a return on equity of 8.32% and a net margin of 10.13%. On average, analysts anticipate that Telefonica Brasil S.A. will post 0.6 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Telefonica Brasil

A number of hedge funds have recently modified their holdings of the business. Rhumbline Advisers boosted its stake in Telefonica Brasil by 337.7% during the 1st quarter. Rhumbline Advisers now owns 4,233 shares of the Wireless communications provider’s stock worth $37,000 after purchasing an additional 3,266 shares during the period. SVB Wealth LLC purchased a new stake in shares of Telefonica Brasil in the first quarter valued at about $41,000. Advisors Asset Management Inc. purchased a new stake in shares of Telefonica Brasil in the first quarter valued at about $52,000. EverSource Wealth Advisors LLC boosted its stake in shares of Telefonica Brasil by 214.0% during the second quarter. EverSource Wealth Advisors LLC now owns 4,766 shares of the Wireless communications provider’s stock worth $54,000 after buying an additional 3,248 shares during the period. Finally, Farther Finance Advisors LLC grew its holdings in shares of Telefonica Brasil by 543.7% during the second quarter. Farther Finance Advisors LLC now owns 4,918 shares of the Wireless communications provider’s stock worth $56,000 after buying an additional 4,154 shares during the last quarter. 5.16% of the stock is currently owned by hedge funds and other institutional investors.

About Telefonica 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.