Analysts Set TIM S.A. Sponsored ADR (NYSE:TIMB) Target Price at $23.10

Shares of TIM S.A. Sponsored ADR (NYSE:TIMB) have been assigned an average recommendation of “Moderate Buy” from the ten ratings firms that are currently covering the firm, Marketbeat Ratings reports. Five analysts have rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $23.10.

A number of research firms have issued reports on TIMB. Wall Street Zen raised TIM from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 20th. Zacks Research raised TIM from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 15th. Barclays raised their price target on shares of TIM from $21.00 to $23.50 and gave the company an “equal weight” rating in a report on Friday, November 7th. Jefferies Financial Group cut shares of TIM from a “buy” rating to a “hold” rating in a research report on Wednesday, November 19th. Finally, Hsbc Global Res raised shares of TIM from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 5th.

TIM Stock Performance

Shares of TIMB stock opened at $21.65 on Monday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.94 and a current ratio of 0.96. The firm has a market capitalization of $10.48 billion, a price-to-earnings ratio of 14.83, a price-to-earnings-growth ratio of 0.76 and a beta of 0.51. TIM has a one year low of $11.32 and a one year high of $23.88. The company has a 50 day moving average price of $22.41 and a 200 day moving average price of $20.68.

TIM (NYSE:TIMB) last announced its quarterly earnings data on Monday, November 3rd. The company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.10. The company had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.21 billion. TIM had a net margin of 15.35% and a return on equity of 15.72%. Sell-side analysts anticipate that TIM will post 1.34 EPS for the current year.

TIM Announces Dividend

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

Institutional Investors Weigh In On TIM

Several institutional investors and hedge funds have recently modified their holdings of the stock. XTX Topco Ltd acquired a new stake in shares of TIM in the third quarter valued at about $675,000. Public Employees Retirement System of Ohio lifted its position in TIM by 18.0% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 107,262 shares of the company’s stock worth $2,394,000 after acquiring an additional 16,328 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in TIM by 150.5% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 27,087 shares of the company’s stock worth $605,000 after acquiring an additional 16,274 shares during the period. Laird Norton Wetherby Wealth Management LLC grew its position in TIM by 6.2% in the third quarter. Laird Norton Wetherby Wealth Management LLC now owns 21,917 shares of the company’s stock valued at $489,000 after acquiring an additional 1,280 shares in the last quarter. Finally, Citadel Advisors LLC grew its position in TIM by 878.4% in the third quarter. Citadel Advisors LLC now owns 370,982 shares of the company’s stock valued at $8,280,000 after acquiring an additional 333,066 shares in the last quarter.

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.