Telefonica Brasil (NYSE:VIV) Hits New 12-Month High – Time to Buy?

Telefonica Brasil S.A. (NYSE:VIV)’s share price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $14.73 and last traded at $14.6850, with a volume of 302061 shares. The stock had previously closed at $14.28.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on VIV. Barclays restated an “overweight” rating and issued a $14.50 price objective on shares of Telefonica Brasil in a report on Monday, November 3rd. Bank of America assumed coverage on Telefonica Brasil in a research note on Thursday, December 11th. They set an “underperform” rating and a $14.00 target price for the company. Wall Street Zen raised shares of Telefonica Brasil from a “buy” rating to a “strong-buy” rating in a report on Sunday, January 11th. Weiss Ratings raised shares of Telefonica Brasil from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, January 23rd. Finally, Morgan Stanley set a $12.00 price objective on shares of Telefonica Brasil in a research note on Wednesday, October 8th. Three investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Telefonica Brasil presently has an average rating of “Hold” and an average price target of $13.12.

Telefonica Brasil Trading Up 2.1%

The company has a 50 day simple moving average of $12.59 and a 200 day simple moving average of $12.38. 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 $23.72 billion, a PE ratio of 22.07, a P/E/G ratio of 0.85 and a beta of 0.70.

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

Institutional Investors Weigh In On Telefonica Brasil

Several hedge funds have recently modified their holdings of VIV. Rhumbline Advisers raised its stake 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 acquiring an additional 3,266 shares during the period. Advisors Asset Management Inc. bought a new position in Telefonica Brasil during the 1st quarter worth approximately $52,000. EverSource Wealth Advisors LLC boosted its holdings in shares of 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 buying an additional 3,248 shares during the period. Farther Finance Advisors LLC raised its position in shares of Telefonica Brasil by 543.7% during the 2nd quarter. Farther Finance Advisors LLC now owns 4,918 shares of the Wireless communications provider’s stock worth $56,000 after purchasing an additional 4,154 shares during the period. Finally, PNC Financial Services Group Inc. boosted its holdings in shares of 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 valued at $59,000 after acquiring an additional 1,619 shares during the period. 5.16% of the stock is owned by institutional investors and hedge funds.

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.