Telefônica Brasil (NYSE:VIV) Shares Gap Down – What’s Next?

Shares of Telefônica Brasil S.A. (NYSE:VIV) gapped down before the market opened on Thursday . The stock had previously closed at $8.99, but opened at $8.71. Telefônica Brasil shares last traded at $8.76, with a volume of 63,652 shares trading hands.

Analysts Set New Price Targets

VIV has been the topic of several analyst reports. Barclays boosted their target price on Telefônica Brasil from $11.00 to $11.50 and gave the stock an “equal weight” rating in a report on Thursday, August 1st. StockNews.com upgraded shares of Telefônica Brasil from a “buy” rating to a “strong-buy” rating in a research note on Thursday, November 14th. Finally, Scotiabank raised their price objective on shares of Telefônica Brasil from $9.20 to $10.40 and gave the company a “sector perform” rating in a research note on Friday, September 20th. Two equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $10.97.

Telefônica Brasil Price Performance

The firm has a fifty day moving average of $9.52 and a 200 day moving average of $9.10. The company has a current ratio of 0.96, a quick ratio of 0.91 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $14.56 billion, a P/E ratio of 13.89, a P/E/G ratio of 0.89 and a beta of 0.81.

Telefônica Brasil (NYSE:VIV) last released its quarterly earnings data on Tuesday, November 5th. The Wireless communications provider reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.03. Telefônica Brasil had a net margin of 9.78% and a return on equity of 7.77%. The firm had revenue of $2.53 billion during the quarter, compared to analysts’ expectations of $2.52 billion. During the same period in the previous year, the company earned $0.18 earnings per share. On average, equities research analysts anticipate that Telefônica Brasil S.A. will post 0.61 EPS for the current year.

Hedge Funds Weigh In On Telefônica Brasil

A number of institutional investors and hedge funds have recently modified their holdings of the company. Blue Trust Inc. grew its stake in shares of Telefônica Brasil by 2,821.8% during the 2nd quarter. Blue Trust Inc. now owns 3,214 shares of the Wireless communications provider’s stock valued at $26,000 after purchasing an additional 3,104 shares during the period. Arkfeld Wealth Strategies L.L.C. purchased a new position in shares of Telefônica Brasil in the second quarter worth approximately $85,000. QRG Capital Management Inc. bought a new stake in Telefônica Brasil during the second quarter valued at approximately $83,000. B. Riley Wealth Advisors Inc. bought a new stake in Telefônica Brasil during the first quarter valued at approximately $123,000. Finally, Aprio Wealth Management LLC purchased a new stake in Telefônica Brasil during the third quarter valued at approximately $134,000. 5.16% of the stock is currently owned by hedge funds and other institutional investors.

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.