Telefonica Brasil (NYSE:VIV) Issues Quarterly Earnings Results

Telefonica Brasil (NYSE:VIV) posted its quarterly earnings results on Monday. The Wireless communications provider reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.04), FiscalAI reports. The firm had revenue of $3.04 billion during the quarter, compared to the consensus estimate of $3.04 billion. Telefonica Brasil had a return on equity of 9.32% and a net margin of 10.49%.

Telefonica Brasil Price Performance

Shares of Telefonica Brasil stock traded up $0.07 during trading on Monday, reaching $14.12. 804,030 shares of the stock traded hands, compared to its average volume of 1,019,554. Telefonica Brasil has a 52-week low of $10.82 and a 52-week high of $17.25. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.10 and a quick ratio of 1.03. The business has a fifty day simple moving average of $13.41 and a two-hundred day simple moving average of $14.56. The company has a market capitalization of $22.98 billion, a price-to-earnings ratio of 19.09, a P/E/G ratio of 0.74 and a beta of 0.56.

Telefonica Brasil Dividend Announcement

The company also recently disclosed a dividend, which was paid on Tuesday, July 21st. Stockholders of record on Friday, May 22nd were given a dividend of $0.4562 per share. The ex-dividend date was Friday, May 22nd. Telefonica Brasil’s dividend payout ratio (DPR) is presently 37.84%.

Hedge Funds Weigh In On Telefonica Brasil

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Invesco Ltd. grew its position in Telefonica Brasil by 138.8% in the third quarter. Invesco Ltd. now owns 2,856,618 shares of the Wireless communications provider’s stock worth $36,422,000 after acquiring an additional 1,660,475 shares in the last quarter. Jane Street Group LLC bought a new stake in Telefonica Brasil during the second quarter worth approximately $4,192,000. Millennium Management LLC raised its position in Telefonica Brasil by 477.6% during the third quarter. Millennium Management LLC now owns 392,232 shares of the Wireless communications provider’s stock valued at $5,001,000 after purchasing an additional 324,319 shares during the period. Two Sigma Investments LP raised its position in Telefonica Brasil by 22.5% during the third quarter. Two Sigma Investments LP now owns 1,672,947 shares of the Wireless communications provider’s stock valued at $21,330,000 after purchasing an additional 307,501 shares during the period. Finally, Ameriprise Financial Inc. lifted its stake in shares of Telefonica Brasil by 240.1% in the 3rd quarter. Ameriprise Financial Inc. now owns 329,367 shares of the Wireless communications provider’s stock valued at $4,202,000 after purchasing an additional 232,524 shares during the last quarter. 5.16% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. The Goldman Sachs Group started coverage on shares of Telefonica Brasil in a research note on Monday, May 18th. They set a “sell” rating and a $13.90 target price on the stock. New Street Research raised Telefonica Brasil from a “neutral” rating to a “buy” rating in a report on Tuesday, April 7th. Bradesco Corretora downgraded Telefonica Brasil to a “neutral” rating in a research report on Tuesday, April 28th. Barclays set a $15.50 price target on Telefonica Brasil and gave the stock an “equal weight” rating in a research note on Thursday, July 16th. Finally, Weiss Ratings lowered shares of Telefonica Brasil from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, July 7th. One research analyst has rated the stock with a Buy rating, six have given a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus price target of $14.16.

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.