Telefonica Brasil (NYSE:VIV) Price Target Raised to $12.60 at The Goldman Sachs Group

Telefonica Brasil (NYSE:VIV) had its price target hoisted by The Goldman Sachs Group from $11.40 to $12.60 in a research report report published on Tuesday,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the Wireless communications provider’s stock.

Other equities research analysts have also recently issued research reports about the company. Barclays restated an “overweight” rating and issued a $13.00 price target (up previously from $12.50) on shares of Telefonica Brasil in a report on Thursday, August 7th. JPMorgan Chase & Co. reissued an “underweight” rating on shares of Telefonica Brasil in a report on Friday, August 8th. Scotiabank lifted their price target on Telefonica Brasil from $8.80 to $12.50 and gave the stock a “sector perform” rating in a research note on Thursday, July 31st. Finally, Wall Street Zen lowered shares of Telefonica Brasil from a “buy” rating to a “hold” rating in a research report on Sunday, August 10th. Two analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Telefonica Brasil currently has a consensus rating of “Hold” and an average price target of $12.70.

Telefonica Brasil Stock Performance

NYSE:VIV opened at $12.2750 on Tuesday. The firm’s fifty day simple moving average is $11.39 and its 200-day simple moving average is $13.23. The company has a quick ratio of 0.95, a current ratio of 0.98 and a debt-to-equity ratio of 0.20. The stock has a market cap of $19.97 billion, a PE ratio of 19.80, a price-to-earnings-growth ratio of 0.85 and a beta of 0.71. Telefonica Brasil has a fifty-two week low of $7.47 and a fifty-two week high of $12.52.

Telefonica Brasil (NYSE:VIV) last released its quarterly earnings data on Monday, July 28th. The Wireless communications provider reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.01). Telefonica Brasil had a return on equity of 8.32% and a net margin of 10.13%.The company had revenue of $2.62 billion for the quarter, compared to analysts’ expectations of $14.48 billion. Analysts expect that Telefonica Brasil will post 0.6 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Corient Private Wealth LLC boosted its holdings in shares of Telefonica Brasil by 100.9% during the second quarter. Corient Private Wealth LLC now owns 42,984 shares of the Wireless communications provider’s stock worth $490,000 after purchasing an additional 21,584 shares during the last quarter. Vident Advisory LLC lifted its position in Telefonica Brasil by 36.1% during the second quarter. Vident Advisory LLC now owns 46,299 shares of the Wireless communications provider’s stock worth $528,000 after buying an additional 12,276 shares during the period. Two Sigma Securities LLC acquired a new stake in Telefonica Brasil in the 2nd quarter worth about $665,000. Tidal Investments LLC acquired a new stake in Telefonica Brasil in the 2nd quarter worth about $624,000. Finally, Engineers Gate Manager LP grew its holdings in Telefonica Brasil by 63.3% in the 2nd quarter. Engineers Gate Manager LP now owns 65,468 shares of the Wireless communications provider’s stock valued at $746,000 after buying an additional 25,377 shares during the period. Hedge funds and other institutional investors own 5.16% of the company’s stock.

Telefonica 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.