Telefônica Brasil (NYSE:VIV) Reaches New 52-Week High at $9.31

Shares of Telefônica Brasil S.A. (NYSE:VIV) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $9.31 and last traded at $9.30, with a volume of 317389 shares trading hands. The stock had previously closed at $9.15.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on VIV. Citigroup upgraded Telefônica Brasil from a “neutral” rating to a “buy” rating in a research note on Tuesday, August 8th. TheStreet cut Telefônica Brasil from a “c-” rating to a “d+” rating in a research note on Wednesday, May 31st. The Goldman Sachs Group boosted their price target on Telefônica Brasil from $10.00 to $11.40 and gave the company a “buy” rating in a research note on Wednesday, August 2nd. StockNews.com cut Telefônica Brasil from a “strong-buy” rating to a “buy” rating in a research note on Monday. Finally, Jefferies Financial Group assumed coverage on Telefônica Brasil in a research note on Tuesday. They set a “hold” rating for the company. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $11.20.

Telefônica Brasil Stock Down 0.2 %

The firm’s fifty day moving average price is $8.64 and its 200-day moving average price is $8.34. The company has a market capitalization of $15.19 billion, a price-to-earnings ratio of 17.55, a P/E/G ratio of 1.00 and a beta of 0.57. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.87 and a quick ratio of 0.84.

Telefônica Brasil (NYSE:VIV) last announced its quarterly earnings results on Tuesday, July 25th. The Wireless communications provider reported $0.14 earnings per share (EPS) for the quarter. The company had revenue of $2.57 billion during the quarter, compared to the consensus estimate of $2.53 billion. Telefônica Brasil had a net margin of 8.98% and a return on equity of 6.54%. Sell-side analysts expect that Telefônica Brasil S.A. will post 0.53 earnings per share for the current fiscal year.

Telefônica Brasil Cuts Dividend

The business also recently declared a — dividend, which was paid on Friday, September 1st. Stockholders of record on Friday, January 1st were issued a dividend of $0.0273 per share. The ex-dividend date of this dividend was Friday, September 1st. This represents a dividend yield of 4.9%. Telefônica Brasil’s dividend payout ratio (DPR) is presently 64.15%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Credit Suisse AG increased its holdings in Telefônica Brasil by 543.6% in the third quarter. Credit Suisse AG now owns 7,485 shares of the Wireless communications provider’s stock valued at $57,000 after purchasing an additional 6,322 shares during the period. Quantbot Technologies LP acquired a new stake in Telefônica Brasil in the second quarter valued at $68,000. FMR LLC increased its holdings in Telefônica Brasil by 578.8% in the first quarter. FMR LLC now owns 9,863 shares of the Wireless communications provider’s stock valued at $75,000 after purchasing an additional 8,410 shares during the period. Atlas Capital Advisors LLC increased its holdings in Telefônica Brasil by 191.7% in the second quarter. Atlas Capital Advisors LLC now owns 10,028 shares of the Wireless communications provider’s stock valued at $102,000 after purchasing an additional 6,590 shares during the period. Finally, Icon Wealth Partners LLC acquired a new stake in Telefônica Brasil in the first quarter valued at $80,000. 5.40% of the stock is currently owned by institutional investors and hedge funds.

Telefônica 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.