The Goldman Sachs Group Cuts Telefônica Brasil (NYSE:VIV) Price Target to $9.20

Telefônica Brasil (NYSE:VIV) had its price objective decreased by equities researchers at The Goldman Sachs Group from $10.60 to $9.20 in a research note issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the Wireless communications provider’s stock. The Goldman Sachs Group’s target price would indicate a potential upside of 16.02% from the company’s previous close.

A number of other equities analysts have also weighed in on the stock. Barclays upped their target price on shares of Telefônica Brasil from $11.50 to $11.80 and gave the stock an “equal weight” rating in a research report on Monday, November 25th. New Street Research cut shares of Telefônica Brasil from a “buy” rating to a “neutral” rating in a research report on Monday, December 9th. Scotiabank raised their price objective on Telefônica Brasil from $9.20 to $10.40 and gave the company a “sector perform” rating in a research note on Friday, September 20th. Finally, StockNews.com downgraded Telefônica Brasil from a “strong-buy” rating to a “buy” rating in a research report on Thursday, December 12th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $10.60.

Telefônica Brasil Stock Performance

Shares of NYSE VIV traded up $0.23 during midday trading on Thursday, hitting $7.93. 735,979 shares of the stock traded hands, compared to its average volume of 823,405. The firm has a market capitalization of $13.19 billion, a P/E ratio of 12.59, a PEG ratio of 0.78 and a beta of 0.78. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.91 and a current ratio of 0.96. Telefônica Brasil has a one year low of $7.66 and a one year high of $11.43. The firm has a 50-day moving average of $8.93 and a two-hundred day moving average of $9.04.

Telefônica Brasil (NYSE:VIV) last released its earnings results on Tuesday, November 5th. The Wireless communications provider reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.03. The company had revenue of $2.53 billion during the quarter, compared to analyst estimates of $2.52 billion. Telefônica Brasil had a net margin of 9.78% and a return on equity of 7.77%. During the same period in the prior year, the firm posted $0.18 EPS. On average, equities analysts forecast that Telefônica Brasil will post 0.63 EPS for the current fiscal year.

Hedge Funds Weigh In On Telefônica Brasil

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Blue Trust Inc. grew its stake in Telefônica Brasil by 2,821.8% in the second 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 last quarter. Aprio Wealth Management LLC acquired a new position in Telefônica Brasil during the third quarter valued at $134,000. QRG Capital Management Inc. boosted its holdings in Telefônica Brasil by 30.2% in the third quarter. QRG Capital Management Inc. now owns 13,094 shares of the Wireless communications provider’s stock valued at $134,000 after purchasing an additional 3,039 shares during the last quarter. First Affirmative Financial Network acquired a new stake in Telefônica Brasil during the 3rd quarter worth about $160,000. Finally, Squarepoint Ops LLC purchased a new position in shares of Telefônica Brasil during the 2nd quarter valued at about $165,000. 5.16% of the stock is currently owned by institutional investors.

About Telefônica Brasil

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.