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

Telefonica Brasil S.A. (NYSE:VIV) reached a new 52-week high during trading on Tuesday . The company traded as high as $14.73 and last traded at $14.6850, with a volume of 302061 shares trading hands. The stock had previously closed at $14.28.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on VIV. Weiss Ratings raised Telefonica Brasil from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, January 23rd. Bank of America began coverage on Telefonica Brasil in a research note on Thursday, December 11th. They issued an “underperform” rating and a $14.00 target price on the stock. Morgan Stanley set a $12.00 target price on Telefonica Brasil in a report on Wednesday, October 8th. Wall Street Zen raised Telefonica Brasil from a “buy” rating to a “strong-buy” rating in a report on Sunday, January 11th. Finally, Barclays restated an “overweight” rating and set a $14.50 price objective on shares of Telefonica Brasil in a research report on Monday, November 3rd. Three equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $13.12.

Telefonica Brasil Stock Up 2.1%

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 market capitalization of $23.97 billion, a PE ratio of 22.32, a price-to-earnings-growth ratio of 0.88 and a beta of 0.71. The firm’s 50-day simple moving average is $12.66 and its 200 day simple moving average is $12.42.

Telefonica Brasil (NYSE:VIV) last announced its quarterly earnings data on Friday, November 14th. The Wireless communications provider reported $0.11 EPS for the quarter. Telefonica Brasil had a net margin of 10.37% and a return on equity of 8.67%. The firm had revenue of $2.81 billion during the quarter. As a group, equities research analysts forecast that Telefonica Brasil S.A. will post 0.6 earnings per share for the current year.

Hedge Funds Weigh In On Telefonica Brasil

Several hedge funds have recently bought and sold shares of VIV. Arrowstreet Capital Limited Partnership boosted its position in Telefonica Brasil by 54.8% during the second quarter. Arrowstreet Capital Limited Partnership now owns 5,754,523 shares of the Wireless communications provider’s stock worth $65,602,000 after purchasing an additional 2,036,349 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its position in shares of Telefonica Brasil by 11.4% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 17,000,115 shares of the Wireless communications provider’s stock worth $216,751,000 after buying an additional 1,735,958 shares in the last quarter. Invesco Ltd. grew its stake in Telefonica Brasil by 138.8% in the 3rd quarter. Invesco Ltd. now owns 2,856,618 shares of the Wireless communications provider’s stock valued at $36,422,000 after acquiring an additional 1,660,475 shares during the last quarter. Ramirez Asset Management Inc. acquired a new stake in Telefonica Brasil in the 2nd quarter valued at about $4,866,000. Finally, Jane Street Group LLC purchased a new position in Telefonica Brasil during the 2nd quarter valued at about $4,192,000. 5.16% of the stock is owned by hedge funds and other institutional investors.

Telefonica Brasil Company Profile

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.