Telefonica Brasil (NYSE:VIV) Shares Gap Down Following Analyst Downgrade

Telefonica Brasil S.A. (NYSE:VIV)’s share price gapped down prior to trading on Wednesday after UBS Group downgraded the stock from a buy rating to a sell rating. The stock had previously closed at $16.27, but opened at $15.66. Telefonica Brasil shares last traded at $16.0880, with a volume of 148,503 shares changing hands.

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

Institutional Investors Weigh In On Telefonica Brasil

Several institutional investors and hedge funds have recently modified their holdings of the stock. Coldstream Capital Management Inc. lifted its position in Telefonica Brasil by 6.0% during the 4th quarter. Coldstream Capital Management Inc. now owns 11,802 shares of the Wireless communications provider’s stock worth $140,000 after acquiring an additional 672 shares in the last quarter. Ieq Capital LLC grew its position in Telefonica Brasil by 3.4% in the fourth quarter. Ieq Capital LLC now owns 22,285 shares of the Wireless communications provider’s stock valued at $264,000 after acquiring an additional 727 shares in the last quarter. Kestra Private Wealth Services LLC raised its stake in shares of Telefonica Brasil by 2.9% during the fourth quarter. Kestra Private Wealth Services LLC now owns 26,638 shares of the Wireless communications provider’s stock valued at $316,000 after purchasing an additional 744 shares during the period. BSW Wealth Partners lifted its position in shares of Telefonica Brasil by 2.1% during the fourth quarter. BSW Wealth Partners now owns 36,804 shares of the Wireless communications provider’s stock worth $436,000 after purchasing an additional 770 shares in the last quarter. Finally, Aprio Wealth Management LLC lifted its position in shares of Telefonica Brasil by 2.2% during the fourth quarter. Aprio Wealth Management LLC now owns 39,645 shares of the Wireless communications provider’s stock worth $470,000 after purchasing an additional 845 shares in the last quarter. Hedge funds and other institutional investors own 5.16% of the company’s stock.

Telefonica Brasil Stock Down 1.8%

The firm has a market capitalization of $26.00 billion, a PE ratio of 22.84, a P/E/G ratio of 0.72 and a beta of 0.68. The firm’s 50 day moving average price is $14.48 and its two-hundred day moving average price 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.

Telefonica Brasil (NYSE:VIV) last released its quarterly earnings results on Monday, February 23rd. The Wireless communications provider reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.05. 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, compared to the consensus estimate of $2.88 billion. As a group, research analysts forecast that Telefonica Brasil S.A. will post 0.6 EPS for the current fiscal year.

Telefonica Brasil Company Profile

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.