Reported Earnings • May 18
First quarter 2026 earnings released: EPS: R$0.083 (vs R$0.17 in 1Q 2025) First quarter 2026 results: EPS: R$0.083 (down from R$0.17 in 1Q 2025). Revenue: R$321.7m (up 9.2% from 1Q 2025). Net income: R$9.64m (down 51% from 1Q 2025). Profit margin: 3.0% (down from 6.6% in 1Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.6% p.a. on average during the next 3 years, compared to a 4.6% growth forecast for the Telecom industry in South America. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has increased by 23% per year, which means it is well ahead of earnings. Major Estimate Revision • Apr 07
Consensus EPS estimates increase by 10% The consensus outlook for fiscal year 2026 has been updated. 2026 EPS estimate increased from R$1.69 to R$1.86. Revenue forecast steady at R$1.39b. Net income forecast to grow 313% next year vs 75% growth forecast for Telecom industry in Brazil. Consensus price target up from R$15.32 to R$17.12. Share price was steady at R$18.09 over the past week. Valuation Update With 7 Day Price Move • Mar 24
Investor sentiment improves as stock rises 29% After last week's 29% share price gain to R$17.75, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 15x in the Telecom industry in South America. Total returns to shareholders of 128% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at R$34.70 per share. Price Target Changed • Mar 23
Price target increased by 8.1% to R$13.72 Up from R$12.69, the current price target is an average from 6 analysts. New target price is approximately in line with last closing price of R$14.40. Stock is up 77% over the past year. The company is forecast to post earnings per share of R$1.69 for next year compared to R$0.70 last year. Reported Earnings • Mar 18
Full year 2025 earnings released: EPS: R$0.70 (vs R$0.78 in FY 2024) Full year 2025 results: EPS: R$0.70 (down from R$0.78 in FY 2024). Revenue: R$1.22b (up 7.9% from FY 2024). Net income: R$80.8m (down 9.9% from FY 2024). Profit margin: 6.6% (down from 7.9% in FY 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 6.1% p.a. on average during the next 2 years, compared to a 5.4% growth forecast for the Telecom industry in South America. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has increased by 22% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Feb 23
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to R$13.52, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 16x in the Telecom industry in South America. Total returns to shareholders of 72% over the past three years. Valuation Update With 7 Day Price Move • Jan 27
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to R$14.50, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 11x in the Telecom industry in South America. Total returns to shareholders of 67% over the past three years. Major Estimate Revision • Dec 14
Consensus EPS estimates fall by 44% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from R$1.29b to R$1.27b. EPS estimate also fell from R$2.05 per share to R$1.16 per share. Net income forecast to grow 176% next year vs 57% growth forecast for Telecom industry in Brazil. Consensus price target broadly unchanged at R$12.83. Share price rose 3.6% to R$15.91 over the past week. Reported Earnings • Nov 06
Third quarter 2025 earnings released: EPS: R$0.14 (vs R$0.21 in 3Q 2024) Third quarter 2025 results: EPS: R$0.14 (down from R$0.21 in 3Q 2024). Revenue: R$310.6m (up 7.8% from 3Q 2024). Net income: R$15.1m (down 32% from 3Q 2024). Profit margin: 4.8% (down from 7.7% in 3Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 8.9% p.a. on average during the next 3 years, compared to a 7.6% growth forecast for the Telecom industry in South America. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has increased by 16% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Oct 18
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to R$15.15, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 10x in the Telecom industry in South America. Total returns to shareholders of 35% over the past three years. New Risk • Oct 09
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Brazilian stocks, typically moving 6.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.2x net interest cover). Minor Risk Share price has been volatile over the past 3 months (6.4% average weekly change). Valuation Update With 7 Day Price Move • Oct 08
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to R$12.42, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 10x in the Telecom industry in South America. Total returns to shareholders of 14% over the past three years. Valuation Update With 7 Day Price Move • Sep 19
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to R$9.75, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 10x in the Telecom industry in South America. Total loss to shareholders of 7.3% over the past three years. Major Estimate Revision • Sep 10
Consensus EPS estimates fall by 29% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from R$1.29b to R$1.26b. EPS estimate also fell from R$2.05 per share to R$1.46 per share. Net income forecast to grow 231% next year vs 50% growth forecast for Telecom industry in Brazil. Consensus price target broadly unchanged at R$12.69. Share price was steady at R$8.06 over the past week. Reported Earnings • Aug 08
Second quarter 2025 earnings: EPS misses analyst expectations Second quarter 2025 results: EPS: R$0.19 (down from R$0.26 in 2Q 2024). Revenue: R$297.4m (up 6.2% from 2Q 2024). Net income: R$15.4m (down 40% from 2Q 2024). Profit margin: 5.2% (down from 9.1% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 25%. Revenue is forecast to grow 9.2% p.a. on average during the next 3 years, compared to a 7.2% growth forecast for the Telecom industry in South America. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Major Estimate Revision • Jun 08
Consensus EPS estimates fall by 21% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from R$1.29b to R$1.27b. EPS estimate also fell from R$2.05 per share to R$1.62 per share. Net income forecast to grow 178% next year vs 178% growth forecast for Telecom industry in Brazil. Consensus price target broadly unchanged at R$13.11. Share price was steady at R$9.36 over the past week. Upcoming Dividend • Apr 20
Upcoming dividend of R$0.037 per share Eligible shareholders must have bought the stock before 24 April 2025. Payment date: 30 May 2025. Payout ratio is a comfortable 5.2% but the company is not cash flow positive. Trailing yield: 0.5%. Lower than top quartile of Brazilian dividend payers (10%). Lower than average of industry peers (5.4%). Declared Dividend • Apr 06
Dividend of R$0.037 announced Shareholders will receive a dividend of R$0.037. Ex-date: 24th April 2025 Payment date: 30th May 2025 Dividend yield will be 0.4%, which is lower than the industry average of 4.7%. Aankondiging • Mar 24
Desktop S.A., Annual General Meeting, Apr 23, 2025 Desktop S.A., Annual General Meeting, Apr 23, 2025. Reported Earnings • Mar 20
Full year 2024 earnings: EPS misses analyst expectations Full year 2024 results: EPS: R$0.87 (down from R$0.94 in FY 2023). Revenue: R$1.13b (up 14% from FY 2023). Net income: R$100.1m (down 2.2% from FY 2023). Profit margin: 8.9% (down from 10% in FY 2023). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 44%. Revenue is forecast to grow 9.5% p.a. on average during the next 3 years, compared to a 6.9% growth forecast for the Telecom industry in South America. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has fallen by 19% per year, which means it is significantly lagging earnings. Price Target Changed • Mar 18
Price target decreased by 13% to R$13.79 Down from R$15.93, the current price target is an average from 7 analysts. New target price is 61% above last closing price of R$8.54. Stock is down 39% over the past year. The company is forecast to post earnings per share of R$2.05 for next year compared to R$0.87 last year. Price Target Changed • Feb 04
Price target decreased by 9.8% to R$15.07 Down from R$16.71, the current price target is an average from 7 analysts. New target price is 51% above last closing price of R$10.01. Stock is down 21% over the past year. The company is forecast to post earnings per share of R$1.39 for next year compared to R$0.94 last year. Price Target Changed • Jan 15
Price target decreased by 7.8% to R$16.14 Down from R$17.50, the current price target is an average from 7 analysts. New target price is 53% above last closing price of R$10.53. Stock is down 21% over the past year. The company is forecast to post earnings per share of R$1.61 for next year compared to R$0.94 last year. Valuation Update With 7 Day Price Move • Dec 18
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to R$10.35, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 11x in the Telecom industry in South America. Total loss to shareholders of 36% over the past three years. Major Estimate Revision • Nov 21
Consensus EPS estimates increase by 11% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate increased from R$1.45 to R$1.61. Revenue forecast steady at R$1.13b. Net income forecast to grow 81% next year vs 20% growth forecast for Telecom industry in Brazil. Consensus price target down from R$17.50 to R$16.71. Share price was steady at R$13.55 over the past week. Reported Earnings • Nov 08
Third quarter 2024 earnings: EPS misses analyst expectations Third quarter 2024 results: EPS: R$0.21 (down from R$0.30 in 3Q 2023). Revenue: R$288.1m (up 13% from 3Q 2023). Net income: R$22.1m (down 31% from 3Q 2023). Profit margin: 7.7% (down from 13% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 54%. Revenue is forecast to grow 9.9% p.a. on average during the next 3 years, compared to a 9.6% growth forecast for the Telecom industry in South America. Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 09
Second quarter 2024 earnings: EPS misses analyst expectations Second quarter 2024 results: EPS: R$0.26 (up from R$0.22 in 2Q 2023). Revenue: R$280.1m (up 14% from 2Q 2023). Net income: R$25.5m (up 1.5% from 2Q 2023). Profit margin: 9.1% (down from 10% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 8.8%. Revenue is forecast to grow 9.9% p.a. on average during the next 3 years, compared to a 7.7% growth forecast for the Telecom industry in South America. Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Price Target Changed • Jun 21
Price target decreased by 17% to R$16.78 Down from R$20.16, the current price target is an average from 6 analysts. New target price is 13% above last closing price of R$14.79. Stock is up 36% over the past year. The company is forecast to post earnings per share of R$1.78 for next year compared to R$0.94 last year. Valuation Update With 7 Day Price Move • May 27
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to R$16.22, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 13x in the Telecom industry in South America. Total returns to shareholders of 71% over the past year. New Risk • May 25
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Brazilian stocks, typically moving 7.2% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.9x net interest cover). Minor Risk Share price has been volatile over the past 3 months (7.2% average weekly change). Reported Earnings • May 10
First quarter 2024 earnings released: EPS: R$0.18 (vs R$0.16 in 1Q 2023) First quarter 2024 results: EPS: R$0.18 (up from R$0.16 in 1Q 2023). Revenue: R$268.2m (up 21% from 1Q 2023). Net income: R$18.9m (up 4.7% from 1Q 2023). Profit margin: 7.0% (down from 8.1% in 1Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 6.2% growth forecast for the Telecom industry in South America. New Risk • Apr 16
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Brazilian stocks, typically moving 6.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.8x net interest cover). Minor Risks Share price has been volatile over the past 3 months (6.4% average weekly change). Shareholders have been diluted in the past year (32% increase in shares outstanding). Upcoming Dividend • Apr 15
Upcoming dividend of R$0.042 per share Eligible shareholders must have bought the stock before 22 April 2024. Payment date: 30 December 2024. Payout ratio is a comfortable 2.3% but the company is not cash flow positive. Trailing yield: 0.1%. Lower than top quartile of Brazilian dividend payers (8.5%). Lower than average of industry peers (3.2%). Major Estimate Revision • Apr 03
Consensus EPS estimates fall by 20% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from R$1.20b to R$1.16b. EPS estimate also fell from R$1.48 per share to R$1.18 per share. Net income forecast to grow 86% next year vs 7.5% growth forecast for Telecom industry in Brazil. Consensus price target down from R$20.16 to R$19.68. Share price fell 5.1% to R$14.25 over the past week. Reported Earnings • Mar 22
Full year 2023 earnings: EPS misses analyst expectations Full year 2023 results: EPS: R$1.07 (up from R$0.55 in FY 2022). Revenue: R$986.4m (up 39% from FY 2022). Net income: R$102.3m (up 113% from FY 2022). Profit margin: 10% (up from 6.8% in FY 2022). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 1.0%. Revenue is forecast to grow 15% p.a. on average during the next 2 years, compared to a 7.5% growth forecast for the Telecom industry in South America. Price Target Changed • Dec 18
Price target decreased by 9.4% to R$18.02 Down from R$19.88, the current price target is an average from 6 analysts. New target price is 23% above last closing price of R$14.69. Stock is up 68% over the past year. The company is forecast to post earnings per share of R$1.03 for next year compared to R$0.55 last year. Reported Earnings • Nov 17
Third quarter 2023 earnings: EPS and revenues exceed analyst expectations Third quarter 2023 results: EPS: R$0.58 (up from R$0.29 in 3Q 2022). Revenue: R$254.5m (up 36% from 3Q 2022). Net income: R$32.3m (up 38% from 3Q 2022). Profit margin: 13% (in line with 3Q 2022). Revenue exceeded analyst estimates by 2.0%. Earnings per share (EPS) also surpassed analyst estimates by 97%. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Telecom industry in South America. Aankondiging • Nov 08
Desktop S.A. (BOVESPA:DESK3) agreed to acquire remining 30% stake in C-Lig Telecomunicacoes S.A. form minority shareholder for BRL 34 million. Desktop S.A. (BOVESPA:DESK3) agreed to acquire remining 30% stake in C-Lig Telecomunicacoes S.A. form minority shareholder for BRL 34 million on November 7, 2023. Desktop will pay BRL 12 million in cash upfront, with the remainder to be paid in four installments over the next three years. Desktop already owned 70 percent and with this purchase, it will become the sole shareholder of C-Lig. The minority shareholder holds 11.567 million shares in C-Lig. The deal is expected to close by November 30, 2023. Valuation Update With 7 Day Price Move • Nov 07
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to R$15.83, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 12x in the Telecom industry in South America. Total returns to shareholders of 40% over the past year. Simply Wall St's valuation model estimates the intrinsic value at R$15.62 per share. Price Target Changed • Aug 20
Price target increased by 8.0% to R$18.05 Up from R$16.72, the current price target is an average from 6 analysts. New target price is 20% above last closing price of R$15.02. Stock is up 47% over the past year. The company is forecast to post earnings per share of R$1.05 for next year compared to R$0.55 last year. Reported Earnings • Aug 17
Second quarter 2023 earnings: EPS misses analyst expectations Second quarter 2023 results: EPS: R$0.12 (up from R$0.04 in 2Q 2022). Revenue: R$246.6m (up 46% from 2Q 2022). Net income: R$25.1m (up R$21.6m from 2Q 2022). Profit margin: 10% (up from 2.1% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 52%. Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Telecom industry in South America. Price Target Changed • Aug 08
Price target increased by 10% to R$17.88 Up from R$16.22, the current price target is an average from 6 analysts. New target price is 20% above last closing price of R$14.85. Stock is up 42% over the past year. The company is forecast to post earnings per share of R$1.33 for next year compared to R$0.55 last year. Valuation Update With 7 Day Price Move • Jul 04
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to R$12.70, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 11x in the Telecom industry in South America. Total returns to shareholders of 53% over the past year. Major Estimate Revision • Jun 23
Consensus EPS estimates fall by 29% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from R$1.03b to R$1.01b. EPS estimate also fell from R$1.88 per share to R$1.33 per share. Net income forecast to grow 195% next year vs 21% growth forecast for Telecom industry in Brazil. Consensus price target broadly unchanged at R$16.22. Share price was steady at R$11.03 over the past week. Reported Earnings • May 19
First quarter 2023 earnings: Revenues exceed analysts expectations while EPS lags behind First quarter 2023 results: EPS: R$0.24 (up from R$0.084 in 1Q 2022). Revenue: R$222.0m (up 42% from 1Q 2022). Net income: R$21.2m (up 188% from 1Q 2022). Profit margin: 9.5% (up from 4.7% in 1Q 2022). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.3%. Earnings per share (EPS) missed analyst estimates by 51%. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Telecom industry in South America. Price Target Changed • May 17
Price target increased by 24% to R$16.38 Up from R$13.24, the current price target is an average from 6 analysts. New target price is 84% above last closing price of R$8.90. Stock is down 23% over the past year. The company is forecast to post earnings per share of R$1.88 for next year compared to R$0.20 last year. Major Estimate Revision • Apr 08
Consensus EPS estimates fall by 22% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from R$1.04b to R$1.02b. EPS estimate also fell from R$1.88 per share to R$1.48 per share. Net income forecast to grow 191% next year vs 50% growth forecast for Telecom industry in Brazil. Consensus price target broadly unchanged at R$13.14. Share price fell 9.7% to R$8.14 over the past week. Reported Earnings • Mar 31
Full year 2022 earnings: Revenues miss analyst expectations Full year 2022 results: Revenue: R$710.8m (up 104% from FY 2021). Net income: R$48.0m (up 86% from FY 2021). Profit margin: 6.8% (down from 7.4% in FY 2021). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 1.5%. Revenue is forecast to grow 21% p.a. on average during the next 3 years, compared to a 9.7% growth forecast for the Telecom industry in South America. Price Target Changed • Mar 16
Price target decreased by 19% to R$13.24 Down from R$16.28, the current price target is an average from 5 analysts. New target price is 61% above last closing price of R$8.24. Stock is down 43% over the past year. The company is forecast to post earnings per share of R$0.72 for next year compared to R$0.37 last year. Valuation Update With 7 Day Price Move • Mar 10
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to R$9.28, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 14x in the Telecom industry in South America. Total loss to shareholders of 43% over the past year. Price Target Changed • Dec 13
Price target decreased to R$17.54 Down from R$21.37, the current price target is an average from 5 analysts. New target price is 106% above last closing price of R$8.53. Stock is down 43% over the past year. The company is forecast to post earnings per share of R$0.79 for next year compared to R$0.37 last year. Board Change • Nov 16
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 7 experienced directors. No highly experienced directors. 2 independent directors (5 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Valuation Update With 7 Day Price Move • Nov 12
Investor sentiment deteriorated over the past week After last week's 20% share price decline to R$9.46, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 15x in the Telecom industry in South America. Total loss to shareholders of 50% over the past year. Major Estimate Revision • Sep 16
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 revenue forecast increased from R$717.9m to R$752.8m. EPS estimate fell from R$1.02 to R$0.77 per share. Net income forecast to grow 210% next year vs 50% growth forecast for Telecom industry in Brazil. Consensus price target down from R$26.22 to R$23.47. Share price rose 3.9% to R$11.53 over the past week. Price Target Changed • Sep 15
Price target decreased to R$23.47 Down from R$27.55, the current price target is an average from 4 analysts. New target price is 100% above last closing price of R$11.76. Stock is down 45% over the past year. The company is forecast to post earnings per share of R$1.02 for next year compared to R$0.37 last year. Major Estimate Revision • Aug 18
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 revenue forecast increased from R$735.3m to R$754.8m. EPS estimate fell from R$1.14 to R$0.87 per share. Net income forecast to grow 200% next year vs 65% growth forecast for Telecom industry in Brazil. Consensus price target of R$26.33 unchanged from last update. Share price rose 2.5% to R$9.95 over the past week. Price Target Changed • Jul 28
Price target decreased to R$26.13 Down from R$28.33, the current price target is an average from 3 analysts. New target price is 169% above last closing price of R$9.70. Stock is down 58% over the past year. The company is forecast to post earnings per share of R$1.46 for next year compared to R$0.37 last year. Valuation Update With 7 Day Price Move • Jun 09
Investor sentiment deteriorated over the past week After last week's 16% share price decline to R$7.68, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 8x in the Telecom industry in South America. Simply Wall St's valuation model estimates the intrinsic value at R$14.16 per share. Valuation Update With 7 Day Price Move • May 25
Investor sentiment deteriorated over the past week After last week's 16% share price decline to R$10.43, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 9x in the Telecom industry in South America. Reported Earnings • May 19
First quarter 2022 earnings: EPS misses analyst expectations First quarter 2022 results: EPS: R$0.10 (up from R$0.09 in 1Q 2021). Revenue: R$156.8m (up 172% from 1Q 2021). Net income: R$9.06m (up 77% from 1Q 2021). Profit margin: 5.8% (down from 8.9% in 1Q 2021). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 63%. Over the next year, revenue is forecast to grow 97%, compared to a 11% growth forecast for the industry in Brazil. Board Change • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 7 experienced directors. No highly experienced directors. 2 independent directors (5 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Major Estimate Revision • Apr 09
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 revenue forecast increased from R$793.2m to R$848.7m. EPS estimate fell from R$1.44 to R$1.27 per share. Net income forecast to grow 297% next year vs 211% growth forecast for Telecom industry in Brazil. Consensus price target down from R$31.43 to R$29.71. Share price fell 9.7% to R$15.75 over the past week. Reported Earnings • Apr 05
Full year 2021 earnings: EPS misses analyst expectations Full year 2021 results: EPS: R$0.35. Revenue: R$348.9m (up 109% from FY 2020). Net income: R$30.7m (up 14% from FY 2020). Profit margin: 8.8% (down from 16% in FY 2020). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 18%. Over the next year, revenue is forecast to grow 153%, compared to a 9.8% growth forecast for the industry in Brazil. Valuation Update With 7 Day Price Move • Mar 30
Investor sentiment improved over the past week After last week's 17% share price gain to R$17.52, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 16x in the Telecom industry in South America. Valuation Update With 7 Day Price Move • Mar 08
Investor sentiment deteriorated over the past week After last week's 15% share price decline to R$14.41, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 14x in the Telecom industry in South America. Valuation Update With 7 Day Price Move • Feb 01
Investor sentiment improved over the past week After last week's 16% share price gain to R$18.16, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 16x in the Telecom industry globally. Valuation Update With 7 Day Price Move • Jan 07
Investor sentiment deteriorated over the past week After last week's 20% share price decline to R$14.59, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 17x in the Telecom industry globally. Valuation Update With 7 Day Price Move • Nov 18
Investor sentiment deteriorated over the past week After last week's 22% share price decline to R$14.79, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 17x in the Telecom industry globally. 
