Telefonica Brasil (NYSE:VIV) Downgraded to Sell Rating by UBS Group

UBS Group downgraded shares of Telefonica Brasil (NYSE:VIV) from a buy rating to a sell rating in a research note released on Wednesday morning, MarketBeat Ratings reports.

Other equities research analysts have also recently issued reports about the stock. Weiss Ratings raised shares of Telefonica Brasil from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, February 25th. Zacks Research upgraded Telefonica Brasil from a “hold” rating to a “strong-buy” rating in a report on Monday, February 9th. Bank of America started coverage on Telefonica Brasil in a research report on Thursday, December 11th. They issued an “underperform” rating and a $14.00 target price on the stock. Finally, Wall Street Zen raised Telefonica Brasil from a “buy” rating to a “strong-buy” rating in a research report on Sunday, January 11th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, Telefonica Brasil currently has an average rating of “Hold” and a consensus price target of $13.12.

Telefonica Brasil Price Performance

NYSE VIV opened at $15.99 on Wednesday. The firm’s 50 day moving average is $14.48 and its 200-day moving average is $13.15. The company has a quick ratio of 0.94, a current ratio of 1.00 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $26.00 billion, a PE ratio of 22.84, a price-to-earnings-growth ratio of 0.72 and a beta of 0.68. Telefonica Brasil has a 12-month low of $8.19 and a 12-month high of $16.95.

Telefonica Brasil (NYSE:VIV) last announced its earnings results on Monday, February 23rd. The Wireless communications provider reported $0.22 EPS for the quarter, topping the consensus estimate of $0.17 by $0.05. The business had revenue of $2.83 billion during the quarter, compared to analysts’ expectations of $2.88 billion. Telefonica Brasil had a net margin of 10.42% and a return on equity of 9.15%. Equities research analysts anticipate that Telefonica Brasil will post 0.6 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Rhumbline Advisers increased its stake in shares of Telefonica Brasil by 337.7% during the 1st quarter. Rhumbline Advisers now owns 4,233 shares of the Wireless communications provider’s stock worth $37,000 after purchasing an additional 3,266 shares during the last quarter. Arax Advisory Partners lifted its stake in Telefonica Brasil by 54.4% in the 4th quarter. Arax Advisory Partners now owns 3,773 shares of the Wireless communications provider’s stock valued at $45,000 after purchasing an additional 1,330 shares during the last quarter. Advisors Asset Management Inc. bought a new position in Telefonica Brasil during the first quarter worth about $52,000. EverSource Wealth Advisors LLC grew its holdings in Telefonica Brasil by 214.0% during the second quarter. EverSource Wealth Advisors LLC now owns 4,766 shares of the Wireless communications provider’s stock worth $54,000 after purchasing an additional 3,248 shares during the period. Finally, PNC Financial Services Group Inc. increased 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 buying an additional 1,619 shares during the last quarter. 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.