TIM (NYSE:TIMB) Sets New 1-Year Low – What’s Next?

TIM S.A. Sponsored ADR (NYSE:TIMB) hit a new 52-week low during trading on Monday. The company traded as low as $15.73 and last traded at $16.7820, with a volume of 66,067 shares traded. The stock had previously closed at $19.17.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on TIMB. Weiss Ratings cut shares of TIM from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday. Bank of America upgraded TIM from an “underperform” rating to a “neutral” rating in a research report on Tuesday, October 13th. Wall Street Zen lowered shares of TIM from a “buy” rating to a “hold” rating in a report on Saturday, August 29th. Barclays dropped their price objective on shares of TIM from $28.00 to $24.00 and set an “equal weight” rating for the company in a research note on Friday, July 10th. Finally, Morgan Stanley restated a “market perform” rating and set a $22.00 price objective on shares of TIM in a research report on Thursday, August 20th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and ten have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $24.82.

TIM Price Performance

The company has a 50-day moving average price of $18.39 and a two-hundred day moving average price of $22.14.

TIM (NYSE:TIMB) last issued its quarterly earnings results on Wednesday, June 17th. The company reported $0.42 earnings per share (EPS) for the quarter. The business had revenue of $1.35 billion during the quarter. On average, research analysts predict that TIM S.A. Sponsored ADR will post 1.82 earnings per share for the current year.

TIM Announces Dividend

The business also recently disclosed a special dividend, which will be paid on Friday, January 29th. Stockholders of record on Monday, September 28th will be given a dividend of $0.2102 per share. The ex-dividend date of this dividend is Monday, September 28th.

Institutional Investors Weigh In On TIM

Hedge funds and other institutional investors have recently modified their holdings of the company. Ameritas Advisory Services LLC bought a new position in TIM in the 2nd quarter valued at about $25,000. Eastern Bank purchased a new position in TIM during the 2nd quarter worth $34,000. Integrated Wealth Concepts LLC purchased a new position in TIM during the second quarter worth about $56,000. Inspire Investing LLC grew its position in TIM by 35.9% in the 3rd quarter. Inspire Investing LLC now owns 5,088 shares of the company’s stock worth $91,000 after purchasing an additional 1,343 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its stake in shares of TIM by 24.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 5,666 shares of the company’s stock worth $101,000 after buying an additional 1,102 shares during the last quarter.

About TIM

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

The company operates a nationwide wireless network, including 4G and 5G services, and provides connectivity solutions for corporate and institutional customers. Its business portfolio also includes Internet of Things applications, managed connectivity and other digital and technology services.

TIM traces its Brazilian operations to the late 1990s and has developed into one of the country’s major mobile operators.