TIM (NYSE:TIMB) Sees Unusually-High Trading Volume – Here’s Why

TIM S.A. Sponsored ADR (NYSE:TIMB) shares saw unusually-high trading volume on Thursday. 841,741 shares changed hands during trading, an increase of 73% from the average daily volume of 487,016 shares. The stock last traded at $17.9550 and had previously closed at $17.75.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on TIMB. Bank of America upgraded shares of TIM from an “underperform” rating to a “neutral” rating in a research report on Tuesday, October 13th. Weiss Ratings cut TIM from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, October 23rd. Wall Street Zen cut TIM from a “buy” rating to a “hold” rating in a research report on Saturday, August 29th. Morgan Stanley reissued a “market perform” rating and issued a $22.00 price objective on shares of TIM in a research note on Thursday, August 20th. Finally, Barclays decreased their price objective on TIM from $28.00 to $24.00 and set an “equal weight” rating on the stock in a report on Friday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat.com, TIM currently has an average rating of “Hold” and a consensus target price of $24.82.

TIM Price Performance

The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.82 and a current ratio of 0.85. The stock’s 50 day simple moving average is $18.42 and its two-hundred day simple moving average is $22.09. The firm has a market capitalization of $8.47 billion, a PE ratio of 10.48, a price-to-earnings-growth ratio of 1.65 and a beta of 0.33.

TIM Dividend Announcement

The business also recently disclosed a special dividend, which will be paid on Friday, January 29th. Investors of record on Monday, September 28th will be given a dividend of $0.2102 per share. The ex-dividend date is Monday, September 28th. TIM’s dividend payout ratio (DPR) is presently 62.13%.

Institutional Trading of TIM

Several large investors have recently added to or reduced their stakes in TIMB. Bank of America Corp DE raised its stake in TIM by 199.8% during the first quarter. Bank of America Corp DE now owns 251,330 shares of the company’s stock worth $6,658,000 after purchasing an additional 167,504 shares during the period. Assetmark Inc. grew its stake in shares of TIM by 19.0% in the 1st quarter. Assetmark Inc. now owns 490,478 shares of the company’s stock valued at $12,993,000 after buying an additional 78,379 shares during the period. Hsbc Holdings PLC grew its stake in shares of TIM by 55.5% in the 1st 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 period. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of TIM by 31.6% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 99,902 shares of the company’s stock valued at $1,783,000 after buying an additional 24,000 shares during the period. Finally, Nykredit A S acquired a new stake in shares of TIM during the 2nd quarter worth approximately $370,000.

TIM Company Profile

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.