Telefonica Brasil (NYSE:VIV) Shares Gap Up – Time to Buy?

Telefonica Brasil S.A. (NYSE:VIV) shares gapped up prior to trading on Monday. The stock had previously closed at $11.54, but opened at $12.73. Telefonica Brasil shares last traded at $12.8150, with a volume of 480,317 shares trading hands.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on VIV. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Telefonica Brasil in a report on Friday. Morgan Stanley set a $14.00 price target on shares of Telefonica Brasil in a report on Thursday, August 20th. Finally, Barclays set a $16.00 price objective on shares of Telefonica Brasil in a research report on Wednesday, July 29th. One analyst has rated the stock with a Buy rating, five have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of $14.66.

Telefonica Brasil Stock Up 0.3%

The company has a current ratio of 0.95, a quick ratio of 0.89 and a debt-to-equity ratio of 0.22. The stock has a market cap of $20.59 billion, a P/E ratio of 16.22, a PEG ratio of 0.71 and a beta of 0.52. The firm has a 50-day simple moving average of $11.81 and a two-hundred day simple moving average of $13.52.

Telefonica Brasil (NYSE:VIV) last announced its earnings results on Thursday, July 23rd. The Wireless communications provider reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.04). Telefonica Brasil had a net margin of 10.64% and a return on equity of 9.72%. The business had revenue of $3.04 billion during the quarter, compared to the consensus estimate of $3.04 billion. Equities research analysts expect that Telefonica Brasil S.A. will post 0.94 earnings per share for the current fiscal year.

Telefonica Brasil Announces Dividend

The firm also recently announced a dividend, which was paid on Tuesday, July 21st. Shareholders 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 is presently 76.92%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Allworth Financial LP boosted its stake in shares of Telefonica Brasil by 74.6% in the second quarter. Allworth Financial LP now owns 4,547 shares of the Wireless communications provider’s stock valued at $60,000 after buying an additional 1,943 shares during the period. Public Employees Retirement System of Ohio bought a new position in Telefonica Brasil during the 1st quarter worth $121,000. EverSource Wealth Advisors LLC increased its stake in Telefonica Brasil by 61.2% during the 1st quarter. EverSource Wealth Advisors LLC now owns 9,840 shares of the Wireless communications provider’s stock worth $157,000 after acquiring an additional 3,736 shares during the period. SG Americas Securities LLC raised its holdings in Telefonica Brasil by 11.5% in the 1st quarter. SG Americas Securities LLC now owns 10,347 shares of the Wireless communications provider’s stock valued at $165,000 after acquiring an additional 1,064 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new stake in shares of Telefonica Brasil during the 1st quarter valued at $216,000. 5.16% of the stock is owned by institutional investors.

Telefonica Brasil Company Profile

Telefônica Brasil SA, operating under the Vivo brand, is a telecommunications company serving consumers, businesses and public-sector organizations throughout Brazil. The company provides mobile voice and data services, wireless connectivity and related digital communications solutions.

Its fixed-line business includes broadband internet delivered primarily through fiber-optic networks, as well as voice and other connectivity services. Telefônica Brasil also offers information technology, cloud, cybersecurity, Internet of Things and managed communications solutions to corporate and institutional customers.