Telefônica Brasil (NYSE:VIV) Shares Scheduled to Reverse Split on Thursday, May 29th

Telefônica Brasil S.A. (NYSE:VIV) shares are set to reverse split on Thursday, May 29th. The 1-2 reverse split was announced on Tuesday, April 15th. The number of shares owned by shareholders will be adjusted after the closing bell on Wednesday, May 28th.

Telefônica Brasil Stock Performance

NYSE VIV opened at $9.76 on Wednesday. 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 firm’s fifty day moving average price is $13.51 and its two-hundred day moving average price is $15.78. Telefônica Brasil has a 1 year low of $7.47 and a 1 year high of $10.41. The firm has a market capitalization of $16.13 billion, a P/E ratio of 15.49, a price-to-earnings-growth ratio of 0.84 and a beta of 0.73.

Telefônica Brasil (NYSE:VIV) last posted its quarterly earnings results on Monday, May 12th. The Wireless communications provider reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.01). Telefônica Brasil had a return on equity of 7.77% and a net margin of 9.78%. The firm had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $14.41 billion. As a group, research analysts anticipate that Telefônica Brasil will post 0.6 EPS for the current year.

Telefônica Brasil Increases Dividend

The company also recently declared a dividend, which was paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 25th were given a dividend of $0.043 per share. This is a positive change from Telefônica Brasil’s previous dividend of $0.02. The ex-dividend date was Tuesday, March 25th. Telefônica Brasil’s dividend payout ratio is 91.80%.

Analyst Upgrades and Downgrades

VIV has been the topic of several research reports. StockNews.com downgraded shares of Telefônica Brasil from a “strong-buy” rating to a “buy” rating in a report on Tuesday. The Goldman Sachs Group upped their price objective on shares of Telefônica Brasil from $9.20 to $10.30 and gave the company a “buy” rating in a report on Wednesday, April 30th. Scotiabank decreased their price objective on shares of Telefônica Brasil from $20.80 to $18.40 and set a “sector perform” rating on the stock in a report on Thursday, February 27th. Finally, Barclays upgraded shares of Telefônica Brasil from an “equal weight” rating to an “overweight” rating and decreased their price objective for the company from $23.60 to $23.00 in a report on Monday, March 3rd. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Telefônica Brasil presently has a consensus rating of “Moderate Buy” and an average target price of $17.23.

Hedge Funds Weigh In On Telefônica Brasil

Institutional investors and hedge funds have recently modified their holdings of the business. Truist Financial Corp acquired a new position in shares of Telefônica Brasil in the fourth quarter valued at about $242,000. Robeco Institutional Asset Management B.V. grew its stake in shares of Telefônica Brasil by 7.4% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 15,192,635 shares of the Wireless communications provider’s stock valued at $114,704,000 after acquiring an additional 1,053,218 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Telefônica Brasil in the fourth quarter valued at about $403,000. Banco BTG Pactual S.A. acquired a new stake in Telefônica Brasil during the fourth quarter worth about $237,000. Finally, JPMorgan Chase & Co. grew its stake in Telefônica Brasil by 50.2% during the third quarter. JPMorgan Chase & Co. now owns 63,518 shares of the Wireless communications provider’s stock worth $652,000 after buying an additional 21,235 shares in the last quarter. 5.16% of the stock is currently owned by institutional investors and hedge funds.

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.