Scotiabank Boosts Telefônica Brasil (NYSE:VIV) Price Target to $10.40

Telefônica Brasil (NYSE:VIV) had its price objective increased by Scotiabank from $9.20 to $10.40 in a research note published on Friday, Benzinga reports. Scotiabank currently has a sector perform rating on the Wireless communications provider’s stock.

A number of other equities research analysts have also recently commented on the company. StockNews.com cut Telefônica Brasil from a strong-buy rating to a buy rating in a research note on Tuesday, September 17th. Barclays raised their price objective on shares of Telefônica Brasil from $11.00 to $11.50 and gave the company an equal weight rating in a research report on Thursday, August 1st. Finally, Morgan Stanley upgraded Telefônica Brasil from an equal weight rating to an overweight rating in a report on Thursday, July 11th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of Moderate Buy and a consensus target price of $10.98.

Telefônica Brasil Trading Down 1.2 %

Shares of NYSE VIV opened at $10.00 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.98 and a current ratio of 1.03. Telefônica Brasil has a 52-week low of $8.02 and a 52-week high of $11.43. The firm has a 50 day moving average price of $9.28 and a two-hundred day moving average price of $9.23. The stock has a market cap of $16.64 billion, a P/E ratio of 15.87, a price-to-earnings-growth ratio of 1.00 and a beta of 0.79.

Telefônica Brasil (NYSE:VIV) last issued its quarterly earnings data on Monday, July 29th. The Wireless communications provider reported $0.14 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.14. Telefônica Brasil had a net margin of 9.65% and a return on equity of 7.53%. The firm had revenue of $2.62 billion during the quarter, compared to analysts’ expectations of $2.51 billion. During the same period last year, the company earned $0.14 earnings per share. As a group, equities analysts forecast that Telefônica Brasil will post 0.61 EPS for the current year.

Telefônica Brasil Cuts Dividend

The business also recently declared a — dividend, which was paid on Tuesday, August 27th. Investors of record on Tuesday, August 27th were issued a dividend of $0.0379 per share. The ex-dividend date was Tuesday, August 27th. This represents a yield of 3.2%. Telefônica Brasil’s payout ratio is presently 47.62%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of VIV. Blue Trust Inc. increased its position in shares of Telefônica Brasil by 2,821.8% in the 2nd quarter. Blue Trust Inc. now owns 3,214 shares of the Wireless communications provider’s stock valued at $26,000 after acquiring an additional 3,104 shares during the period. QRG Capital Management Inc. purchased a new stake in Telefônica Brasil in the second quarter valued at approximately $83,000. Arkfeld Wealth Strategies L.L.C. acquired a new position in shares of Telefônica Brasil in the second quarter valued at approximately $85,000. B. Riley Wealth Advisors Inc. purchased a new stake in Telefônica Brasil during the 1st quarter worth about $123,000. Finally, Personal CFO Solutions LLC purchased a new stake in shares of Telefônica Brasil in the 4th quarter valued at approximately $136,000. Institutional investors own 5.16% of the company’s stock.

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.