Bank of America Upgrades TIM (NYSE:TIMB) to “Neutral”

TIM (NYSE:TIMB) was upgraded by equities researchers at Bank of America from an “underperform” rating to a “neutral” rating in a research note issued on Tuesday, MarketBeat.com reports.

Other equities analysts have also recently issued reports about the company. Wall Street Zen cut TIM from a “buy” rating to a “hold” rating in a research report on Saturday, August 29th. Barclays cut their target price on TIM from $28.00 to $24.00 and set an “equal weight” rating on the stock in a research note on Friday, July 10th. Santander raised TIM from a “neutral” rating to an “outperform” rating in a report on Monday, June 22nd. Morgan Stanley restated a “market perform” rating and issued a $22.00 price target on shares of TIM in a research note on Thursday, August 20th. Finally, Weiss Ratings upgraded TIM from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat, TIM presently has a consensus rating of “Hold” and an average price target of $24.82.

TIM Stock Up 2.0%

Shares of NYSE TIMB traded up $0.37 during midday trading on Tuesday, hitting $18.35. The stock had a trading volume of 87,807 shares, compared to its average volume of 457,702. The business’s 50 day moving average is $18.29 and its 200-day moving average is $21.48. TIM has a 52 week low of $17.14 and a 52 week high of $28.22. The company has a quick ratio of 0.82, a current ratio of 0.85 and a debt-to-equity ratio of 0.55. The company has a market cap of $8.78 billion, a P/E ratio of 10.84, a PEG ratio of 1.20 and a beta of 0.33.

TIM (NYSE:TIMB) last announced its quarterly earnings results on Wednesday, June 17th. The company reported $0.42 earnings per share for the quarter. The company had revenue of $1.35 billion during the quarter. TIM had a net margin of 15.73% and a return on equity of 17.99%. As a group, analysts predict that TIM will post 1.82 EPS for the current year.

Institutional Trading of TIM

Several large investors have recently added to or reduced their stakes in the business. Hsbc Holdings PLC increased its holdings in TIM by 55.5% during the first quarter. Hsbc Holdings PLC now owns 135,167 shares of the company’s stock valued at $3,578,000 after buying an additional 48,232 shares during the last quarter. Bank of America Corp DE boosted its stake in shares of TIM by 199.8% during the 1st quarter. Bank of America Corp DE now owns 251,330 shares of the company’s stock worth $6,658,000 after acquiring an additional 167,504 shares during the last quarter. Assetmark Inc. boosted its stake in shares of TIM by 19.0% during the 1st quarter. Assetmark Inc. now owns 490,478 shares of the company’s stock worth $12,993,000 after acquiring an additional 78,379 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of TIM by 2.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 94,380 shares of the company’s stock worth $2,500,000 after acquiring an additional 2,437 shares during the last quarter. Finally, Summit Securities Group LLC bought a new stake in shares of TIM during the 1st quarter valued at $127,000.

About TIM

TIM SA is a Brazilian telecommunications company that provides mobile and fixed-line communications services to consumers, businesses and government customers. Its offerings include voice and messaging, mobile data, broadband internet, digital services and related connectivity solutions.

The company operates a nationwide telecommunications network in Brazil and serves customers through retail stores, digital channels and business-focused sales operations. TIM also provides enterprise services such as connectivity, information technology and communications solutions, including products related to the Internet of Things, cloud computing and managed networks.

TIM SA traces its roots to the launch of TIM Brasil in the late 1990s and is part of the Telecom Italia Group.