Telefonica Brasil (NYSE:VIV) Reaches New 52-Week High – Here’s Why

Telefonica Brasil S.A. (NYSE:VIV) shares hit a new 52-week high on Thursday . The company traded as high as $13.62 and last traded at $13.6650, with a volume of 109447 shares changing hands. The stock had previously closed at $13.00.

Analysts Set New Price Targets

Several research analysts have recently issued reports on VIV shares. Morgan Stanley set a $12.00 price objective on Telefonica Brasil in a research note on Wednesday, October 8th. Barclays reaffirmed an “overweight” rating and issued a $14.50 price objective on shares of Telefonica Brasil in a report on Monday, November 3rd. Bank of America assumed coverage on shares of Telefonica Brasil in a research report on Thursday, December 11th. They set an “underperform” rating and a $14.00 target price for the company. Wall Street Zen raised Telefonica Brasil from a “buy” rating to a “strong-buy” rating in a research report on Sunday, January 11th. Finally, Weiss Ratings cut Telefonica Brasil from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, December 29th. Two equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $13.12.

Telefonica Brasil Trading Up 4.4%

The stock has a market cap of $22.08 billion, a PE ratio of 20.58, a price-to-earnings-growth ratio of 0.76 and a beta of 0.70. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.96 and a current ratio of 1.02. The company has a 50 day moving average of $12.39 and a two-hundred day moving average of $12.22.

Telefonica Brasil (NYSE:VIV) last posted its quarterly earnings data on Friday, November 14th. The Wireless communications provider reported $0.11 EPS for the quarter. Telefonica Brasil had a return on equity of 8.67% and a net margin of 10.37%.The business had revenue of $2.81 billion during the quarter. Sell-side 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

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Rhumbline Advisers raised its stake in Telefonica Brasil by 337.7% in the 1st quarter. Rhumbline Advisers now owns 4,233 shares of the Wireless communications provider’s stock valued at $37,000 after purchasing an additional 3,266 shares during the last quarter. Westfuller Advisors LLC purchased a new stake in shares of Telefonica Brasil during the third quarter worth $59,000. EverSource Wealth Advisors LLC raised its position in shares of Telefonica Brasil by 214.0% in the second quarter. EverSource Wealth Advisors LLC now owns 4,766 shares of the Wireless communications provider’s stock valued at $54,000 after buying an additional 3,248 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in shares of Telefonica Brasil by 543.7% in 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 in the last quarter. Finally, PNC Financial Services Group Inc. boosted its position in Telefonica Brasil by 45.7% during the second quarter. PNC Financial Services Group Inc. now owns 5,163 shares of the Wireless communications provider’s stock worth $59,000 after acquiring an additional 1,619 shares during the last quarter. Hedge funds and other institutional investors own 5.16% of the company’s stock.

About Telefonica Brasil

Telefônica Brasil SA, commonly marketed under the Vivo brand, is one of Brazil’s largest telecommunications providers, offering a broad range of consumer and enterprise communications services. The company’s core activities include mobile voice and data services, fixed-line telephony, broadband internet (including fiber-to-the-home), and pay-TV solutions. It also provides ICT and managed services for business customers, such as cloud, data center, connectivity, Internet of Things (IoT) and security solutions.

Vivo operates a nationwide network across Brazil and serves both individual consumers and corporate clients.