Telefonica Brasil (NYSE:VIV) Hits New 52-Week High – Still a Buy?

Telefonica Brasil S.A. (NYSE:VIV)’s share price hit a new 52-week high during trading on Monday . The company traded as high as $15.02 and last traded at $15.0430, with a volume of 70699 shares traded. The stock had previously closed at $14.92.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on VIV. Wall Street Zen raised Telefonica Brasil from a “buy” rating to a “strong-buy” rating in a research note on Sunday, January 11th. Barclays restated an “overweight” rating and set a $14.50 price objective on shares of Telefonica Brasil in a research report on Monday, November 3rd. Bank of America started coverage on shares of Telefonica Brasil in a research note on Thursday, December 11th. They set an “underperform” rating and a $14.00 target price on the stock. Finally, Weiss Ratings raised shares of Telefonica Brasil from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, January 23rd. Three analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $13.12.

Telefonica Brasil Stock Performance

The firm’s fifty day moving average is $12.72 and its 200-day moving average is $12.49. The company has a current ratio of 1.02, a quick ratio of 0.96 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $24.49 billion, a PE ratio of 22.92, a price-to-earnings-growth ratio of 0.90 and a beta of 0.71.

Telefonica Brasil (NYSE:VIV) last announced its earnings results on Friday, November 14th. The Wireless communications provider reported $0.11 earnings per share for the quarter. The company had revenue of $2.81 billion during the quarter. Telefonica Brasil had a net margin of 10.37% and a return on equity of 8.67%. As a group, research analysts anticipate that Telefonica Brasil S.A. will post 0.6 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Rhumbline Advisers raised its holdings in shares of Telefonica Brasil by 337.7% in the 1st quarter. Rhumbline Advisers now owns 4,233 shares of the Wireless communications provider’s stock valued at $37,000 after buying an additional 3,266 shares during the period. Westfuller Advisors LLC purchased a new position in Telefonica Brasil during the 3rd quarter valued at about $59,000. EverSource Wealth Advisors LLC grew its position in Telefonica Brasil by 214.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,766 shares of the Wireless communications provider’s stock valued at $54,000 after acquiring an additional 3,248 shares in the last quarter. PNC Financial Services Group Inc. increased its stake 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 purchasing an additional 1,619 shares during the period. Finally, Advisors Asset Management Inc. acquired a new stake in shares of Telefonica Brasil during the first quarter worth about $52,000. 5.16% of the stock is currently owned by hedge funds and other institutional investors.

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.