Telefônica Brasil Shares Set to Reverse Split on Thursday, May 29th (NYSE:VIV)

Telefônica Brasil S.A. (NYSE:VIV)’s stock is going to reverse split before the market opens on Thursday, May 29th. The 1-2 reverse split was announced on Tuesday, April 15th. The number of shares owned by shareholders will be adjusted after the closing bell on Wednesday, May 28th.

Telefônica Brasil Price Performance

Shares of NYSE VIV opened at $9.76 on Wednesday. The company has a 50 day moving average of $13.51 and a 200 day moving average of $15.78. The company has a quick ratio of 0.91, a current ratio of 0.96 and a debt-to-equity ratio of 0.19. Telefônica Brasil has a twelve month low of $7.47 and a twelve month high of $10.41. The firm has a market cap of $16.13 billion, a P/E ratio of 15.49, a PEG ratio of 0.84 and a beta of 0.73.

Telefônica Brasil (NYSE:VIV) last announced its quarterly earnings results on Monday, May 12th. The Wireless communications provider reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.01). Telefônica Brasil had a net margin of 9.78% and a return on equity of 7.77%. The business had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $14.41 billion. As a group, research analysts expect that Telefônica Brasil will post 0.6 EPS for the current fiscal year.

Telefônica Brasil Increases Dividend

The business also recently announced a dividend, which was paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 25th were paid a dividend of $0.043 per share. The ex-dividend date of this dividend was Tuesday, March 25th. This is a boost from Telefônica Brasil’s previous dividend of $0.02. Telefônica Brasil’s dividend payout ratio is currently 91.80%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. StockNews.com cut shares of Telefônica Brasil from a “strong-buy” rating to a “buy” rating in a report on Tuesday. Barclays upgraded shares of Telefônica Brasil from an “equal weight” rating to an “overweight” rating and decreased their target price for the company from $23.60 to $23.00 in a research note on Monday, March 3rd. The Goldman Sachs Group lifted their price objective on Telefônica Brasil from $9.20 to $10.30 and gave the stock a “buy” rating in a report on Wednesday, April 30th. Finally, Scotiabank dropped their target price on Telefônica Brasil from $20.80 to $18.40 and set a “sector perform” rating on the stock in a research report on Thursday, February 27th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $17.23.

Hedge Funds Weigh In On Telefônica Brasil

Large investors have recently bought and sold shares of the business. Ascent Group LLC purchased a new stake in shares of Telefônica Brasil in the first quarter valued at approximately $158,000. Advisors Asset Management Inc. purchased a new stake in shares of Telefônica Brasil in the 1st quarter worth $52,000. AlTi Global Inc. purchased a new stake in shares of Telefônica Brasil in the 1st quarter worth $91,000. Aprio Wealth Management LLC grew its position in shares of Telefônica Brasil by 107.7% during the 1st quarter. Aprio Wealth Management LLC now owns 26,834 shares of the Wireless communications provider’s stock worth $234,000 after buying an additional 13,917 shares in the last quarter. Finally, Cubist Systematic Strategies LLC increased its stake in shares of Telefônica Brasil by 87.4% during the first quarter. Cubist Systematic Strategies LLC now owns 77,678 shares of the Wireless communications provider’s stock valued at $677,000 after buying an additional 36,224 shares during the period. Hedge funds and other 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.