Telefonica Brasil (NYSE:VIV) Upgraded to “Strong Sell” at The Goldman Sachs Group

The Goldman Sachs Group upgraded shares of Telefonica Brasil (NYSE:VIV) to a strong sell rating in a research report released on Monday,Zacks.com reports.

VIV has been the topic of a number of other reports. New Street Research upgraded Telefonica Brasil from a “neutral” rating to a “buy” rating in a report on Tuesday, April 7th. Bradesco Corretora downgraded Telefonica Brasil to a “neutral” rating in a report on Tuesday, April 28th. Zacks Research downgraded Telefonica Brasil from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 13th. Scotiabank lifted their price target on Telefonica Brasil from $15.30 to $15.70 and gave the company a “sector perform” rating in a report on Tuesday, May 12th. Finally, Wall Street Zen downgraded Telefonica Brasil from a “strong-buy” rating to a “buy” rating in a report on Saturday. Two equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, Telefonica Brasil currently has an average rating of “Reduce” and an average target price of $14.42.

Telefonica Brasil Trading Up 0.5%

Shares of NYSE:VIV opened at $14.09 on Monday. Telefonica Brasil has a 12-month low of $9.41 and a 12-month high of $17.25. The business’s fifty day simple moving average is $15.75 and its 200-day simple moving average is $14.23. The company has a market capitalization of $22.91 billion, a PE ratio of 19.03, a P/E/G ratio of 0.81 and a beta of 0.63. The company has a current ratio of 1.10, a quick ratio of 1.03 and a debt-to-equity ratio of 0.21.

Telefonica Brasil (NYSE:VIV) last announced its quarterly earnings results on Thursday, May 7th. The Wireless communications provider reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.02). Telefonica Brasil had a net margin of 10.49% and a return on equity of 9.32%. The company had revenue of $2.98 billion during the quarter, compared to analysts’ expectations of $2.98 billion. As a group, equities research analysts predict that Telefonica Brasil will post 0.88 earnings per share for the current fiscal year.

Telefonica Brasil Announces Dividend

The company also recently declared a dividend, which will be paid on Tuesday, July 21st. Shareholders of record on Friday, May 22nd will be given a dividend of $0.4562 per share. The ex-dividend date of this dividend is Friday, May 22nd. Telefonica Brasil’s payout ratio is currently 62.16%.

Institutional Trading of Telefonica Brasil

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. AdvisorShares Investments LLC acquired a new stake in Telefonica Brasil during the 3rd quarter worth about $1,066,000. Diversify Wealth Management LLC acquired a new position in shares of Telefonica Brasil in the 3rd quarter valued at about $1,185,000. Carrera Capital Advisors lifted its holdings in shares of Telefonica Brasil by 2,420.5% in the 3rd quarter. Carrera Capital Advisors now owns 344,055 shares of the Wireless communications provider’s stock valued at $4,387,000 after buying an additional 330,405 shares during the period. Caprock Group LLC acquired a new stake in Telefonica Brasil during the third quarter worth about $2,173,000. Finally, Diversify Advisory Services LLC acquired a new stake in Telefonica Brasil during the third quarter worth about $420,000. Institutional investors and hedge funds 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.