TIM (NYSE:TIMB) Sets New 52-Week High Following Analyst Upgrade

TIM S.A. Sponsored ADR (NYSE:TIMB) reached a new 52-week high during mid-day trading on Wednesday after Barclays raised their price target on the stock from $21.00 to $23.50. Barclays currently has an equal weight rating on the stock. TIM traded as high as $23.69 and last traded at $23.61, with a volume of 148397 shares. The stock had previously closed at $22.74.

A number of other equities research analysts have also recently commented on the stock. Citigroup began coverage on shares of TIM in a report on Wednesday, September 10th. They set a “buy” rating on the stock. HSBC raised TIM from a “hold” rating to a “buy” rating and upped their price objective for the company from $21.00 to $27.00 in a research report on Wednesday. Scotiabank reissued a “sector perform” rating and issued a $23.60 target price on shares of TIM in a report on Wednesday. Weiss Ratings restated a “hold (c+)” rating on shares of TIM in a research note on Wednesday. Finally, Wall Street Zen raised TIM from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 20th. Two research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $23.10.

Institutional Trading of TIM

Several large investors have recently added to or reduced their stakes in TIMB. Global Retirement Partners LLC raised its holdings in TIM by 5,590.5% in the 3rd quarter. Global Retirement Partners LLC now owns 1,195 shares of the company’s stock worth $27,000 after purchasing an additional 1,174 shares during the period. TD Private Client Wealth LLC bought a new position in shares of TIM during the 3rd quarter valued at approximately $28,000. EverSource Wealth Advisors LLC grew its stake in shares of TIM by 188.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,060 shares of the company’s stock valued at $41,000 after acquiring an additional 1,345 shares during the period. Hantz Financial Services Inc. increased its holdings in TIM by 303.1% in the 2nd quarter. Hantz Financial Services Inc. now owns 2,064 shares of the company’s stock worth $42,000 after acquiring an additional 1,552 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in TIM in the 2nd quarter worth approximately $42,000.

TIM Stock Performance

The company has a current ratio of 0.91, a quick ratio of 0.88 and a debt-to-equity ratio of 0.54. The company has a market cap of $11.07 billion, a P/E ratio of 17.73, a PEG ratio of 0.88 and a beta of 0.62. The business’s 50 day simple moving average is $21.79 and its 200 day simple moving average is $19.72.

TIM (NYSE:TIMB) last posted its quarterly earnings results on Monday, November 3rd. The company reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.10. The business had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.21 billion. TIM had a net margin of 13.91% and a return on equity of 13.99%. Sell-side analysts predict that TIM S.A. Sponsored ADR will post 1.34 earnings per share for the current fiscal year.

TIM Announces Dividend

The firm also recently declared a special dividend, which will be paid on Wednesday, January 28th. Shareholders of record on Friday, October 3rd will be paid a $0.1888 dividend. The ex-dividend date is Friday, October 3rd. TIM’s dividend payout ratio is presently 65.07%.

About TIM

TIM SA, a telecommunications company, provides mobile voice, data, and broadband services in Brazil. The company offers in mobile, landline, long-distance, and data transmission services. It also offers fixed ultra-broadband, fixed ultraband broadband, and digital content services. The company serves individuals and corporates, as well as small, medium, and large companies.