Telefonica Brasil (NYSE:VIV) Given New $15.30 Price Target at Scotiabank

Telefonica Brasil (NYSE:VIV) had its price target hoisted by Scotiabank from $12.50 to $15.30 in a research report released on Monday,Benzinga reports. Scotiabank currently has a sector perform rating on the Wireless communications provider’s stock.

Several other equities analysts have also issued reports on the company. Weiss Ratings raised Telefonica Brasil from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, February 25th. UBS Group cut Telefonica Brasil from a “buy” rating to a “sell” rating in a research report on Wednesday, March 11th. Wall Street Zen upgraded shares of Telefonica Brasil from a “buy” rating to a “strong-buy” rating in a research report on Sunday, January 11th. Bank of America initiated coverage on Telefonica Brasil in a report on Thursday, December 11th. They set an “underperform” rating and a $14.00 price target on the stock. Finally, Barclays downgraded Telefonica Brasil from an “overweight” rating to an “equal weight” rating and lifted their target price for the company from $14.50 to $16.00 in a research note on Thursday, March 12th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, three have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $13.98.

Telefonica Brasil Trading Down 0.1%

Shares of Telefonica Brasil stock opened at $15.24 on Monday. The company has a fifty day simple moving average of $15.33 and a 200-day simple moving average of $13.43. Telefonica Brasil has a 12-month low of $8.19 and a 12-month high of $16.95. The company has a current ratio of 1.00, a quick ratio of 0.94 and a debt-to-equity ratio of 0.22. The stock has a market cap of $24.79 billion, a price-to-earnings ratio of 21.77, a PEG ratio of 0.67 and a beta of 0.68.

Telefonica Brasil (NYSE:VIV) last posted its earnings results on Thursday, February 12th. The Wireless communications provider reported $0.21 EPS for the quarter. Telefonica Brasil had a net margin of 10.42% and a return on equity of 9.15%. The firm had revenue of $2.83 billion for the quarter. On average, equities analysts forecast that Telefonica Brasil will post 0.6 EPS for the current fiscal year.

Telefonica Brasil Dividend Announcement

The firm also recently disclosed a dividend, which will be paid on Tuesday, July 21st. Investors of record on Friday, May 22nd will be given a $0.4562 dividend. The ex-dividend date is Friday, May 22nd. Telefonica Brasil’s payout ratio is currently 34.29%.

Hedge Funds Weigh In On Telefonica Brasil

Several hedge funds have recently added to or reduced their stakes in the business. Royal Bank of Canada lifted its holdings in shares of Telefonica Brasil by 30.3% in the first quarter. Royal Bank of Canada now owns 431,051 shares of the Wireless communications provider’s stock valued at $3,758,000 after purchasing an additional 100,315 shares in the last quarter. Advisors Asset Management Inc. purchased a new position in shares of Telefonica Brasil during the 1st quarter worth approximately $52,000. 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 in the last quarter. PNC Financial Services Group Inc. raised its position in shares of Telefonica Brasil by 45.7% during the 2nd quarter. PNC Financial Services Group Inc. now owns 5,163 shares of the Wireless communications provider’s stock worth $59,000 after purchasing an additional 1,619 shares during the last quarter. Finally, Cetera Investment Advisers lifted its stake in Telefonica Brasil by 13.8% in the 2nd quarter. Cetera Investment Advisers now owns 48,646 shares of the Wireless communications provider’s stock valued at $555,000 after buying an additional 5,902 shares in the last quarter. 5.16% of the stock is currently owned by hedge funds and other institutional investors.

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.