The Goldman Sachs Group Issues Pessimistic Forecast for Telefônica Brasil (NYSE:VIV) Stock Price

Telefônica Brasil (NYSE:VIV) had its price objective reduced by The Goldman Sachs Group from $10.60 to $9.20 in a research report sent to investors on Thursday,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the Wireless communications provider’s stock.

Other analysts have also issued research reports about the stock. Barclays lifted their price objective on shares of Telefônica Brasil from $11.50 to $11.80 and gave the company an “equal weight” rating in a research note on Monday, November 25th. Scotiabank lifted their price target 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. New Street Research cut shares of Telefônica Brasil from a “buy” rating to a “neutral” rating in a research report on Monday, December 9th. Finally, StockNews.com downgraded Telefônica Brasil from a “strong-buy” rating to a “buy” rating in a research note on Thursday, December 12th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $10.60.

Telefônica Brasil Stock Performance

Shares of Telefônica Brasil stock opened at $7.94 on Thursday. The company has a market cap of $13.21 billion, a P/E ratio of 12.60, a PEG ratio of 0.78 and a beta of 0.78. 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 business has a 50-day moving average price of $8.90 and a two-hundred day moving average price of $9.03. Telefônica Brasil has a 1-year low of $7.66 and a 1-year high of $11.43.

Telefônica Brasil (NYSE:VIV) last released its earnings results on Tuesday, November 5th. The Wireless communications provider reported $0.18 EPS for the quarter, topping the consensus estimate of $0.15 by $0.03. Telefônica Brasil had a return on equity of 7.77% and a net margin of 9.78%. The business had revenue of $2.53 billion during the quarter, compared to analysts’ expectations of $2.52 billion. During the same quarter last year, the firm posted $0.18 earnings per share. As a group, analysts anticipate that Telefônica Brasil will post 0.63 EPS for the current year.

Institutional Investors Weigh In On Telefônica Brasil

Institutional investors and hedge funds have recently made changes to their positions in the business. Itau Unibanco Holding S.A. bought a new stake in Telefônica Brasil during the 3rd quarter worth approximately $5,967,000. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Telefônica Brasil in the third quarter valued at approximately $5,135,000. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Telefônica Brasil by 49.0% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,171,789 shares of the Wireless communications provider’s stock valued at $12,034,000 after buying an additional 385,207 shares during the last quarter. Brandes Investment Partners LP grew its holdings in Telefônica Brasil by 14.3% during the second quarter. Brandes Investment Partners LP now owns 2,206,334 shares of the Wireless communications provider’s stock worth $18,261,000 after buying an additional 275,569 shares in the last quarter. Finally, Millennium Management LLC raised its position in Telefônica Brasil by 96.8% in the 2nd quarter. Millennium Management LLC now owns 544,019 shares of the Wireless communications provider’s stock valued at $4,466,000 after buying an additional 267,652 shares during the last quarter. Institutional investors and hedge funds own 5.16% of the company’s stock.

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.