Barclays Cuts Telefônica Brasil (NYSE:VIV) Price Target to $13.00

Telefônica Brasil (NYSE:VIV) had its price target cut by equities researchers at Barclays from $13.50 to $13.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm currently has an “equal weight” rating on the Wireless communications provider’s stock. Barclays‘s price objective would indicate a potential upside of 38.30% from the company’s current price.

VIV has been the topic of a number of other research reports. StockNews.com upgraded Telefônica Brasil from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, February 20th. Morgan Stanley restated an “equal weight” rating and set a $11.00 target price on shares of Telefônica Brasil in a research note on Friday, January 5th. Three research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $11.60.

Telefônica Brasil Price Performance

Shares of VIV traded down $0.01 during midday trading on Tuesday, reaching $9.40. The stock had a trading volume of 190,435 shares, compared to its average volume of 835,250. Telefônica Brasil has a 52 week low of $7.87 and a 52 week high of $11.43. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.96 and a quick ratio of 0.92. The firm’s 50 day moving average price is $10.31 and its 200-day moving average price is $10.24. The company has a market capitalization of $15.64 billion, a P/E ratio of 15.16, a P/E/G ratio of 0.72 and a beta of 0.75.

Telefônica Brasil (NYSE:VIV) last posted its quarterly earnings data on Tuesday, February 20th. The Wireless communications provider reported $0.20 EPS for the quarter. The company had revenue of $2.73 billion for the quarter. Telefônica Brasil had a return on equity of 7.33% and a net margin of 9.70%. On average, analysts forecast that Telefônica Brasil will post 0.7 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Telefônica Brasil

A number of institutional investors have recently added to or reduced their stakes in VIV. Robeco Institutional Asset Management B.V. increased its position in Telefônica Brasil by 3.5% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 13,992,613 shares of the Wireless communications provider’s stock valued at $119,637,000 after acquiring an additional 469,546 shares during the period. Brandes Investment Partners LP lifted its stake in shares of Telefônica Brasil by 38.5% in the fourth quarter. Brandes Investment Partners LP now owns 1,917,010 shares of the Wireless communications provider’s stock valued at $20,972,000 after buying an additional 532,794 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Telefônica Brasil by 165.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,856,545 shares of the Wireless communications provider’s stock valued at $20,311,000 after buying an additional 1,157,304 shares in the last quarter. Pinebridge Investments L.P. lifted its stake in shares of Telefônica Brasil by 82.7% in the fourth quarter. Pinebridge Investments L.P. now owns 1,601,608 shares of the Wireless communications provider’s stock valued at $17,517,000 after buying an additional 725,072 shares in the last quarter. Finally, Strs Ohio raised its holdings in shares of Telefônica Brasil by 45.8% in the fourth quarter. Strs Ohio now owns 700,000 shares of the Wireless communications provider’s stock valued at $7,658,000 after purchasing an additional 220,000 shares during the last quarter. 5.16% 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.