TIM Participacoes S.A. (TSU) Reaches New 1-Year High at $17.15
TIM Participacoes S.A. (NYSE:TSU)’s share price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $17.15 and last traded at $17.21, with a volume of 429,316 shares trading hands. The stock had previously closed at $16.88.
Several equities analysts recently issued reports on the company. Barclays PLC reiterated a “buy” rating and issued a $18.50 price objective (up from $17.50) on shares of TIM Participacoes in a research report on Thursday, July 27th. BidaskClub cut TIM Participacoes from a “buy” rating to a “hold” rating in a research note on Saturday, June 10th. Zacks Investment Research upgraded TIM Participacoes from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a research note on Friday, August 4th. Royal Bank Of Canada set a $16.00 target price on TIM Participacoes and gave the company a “hold” rating in a research note on Monday, July 31st. Finally, J P Morgan Chase & Co upgraded TIM Participacoes from a “neutral” rating to an “overweight” rating in a research note on Thursday, May 25th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. TIM Participacoes currently has a consensus rating of “Buy” and a consensus target price of $18.18.
The company has a market cap of $8.44 billion, a P/E ratio of 29.31 and a beta of 1.52. The stock has a 50 day moving average price of $15.66 and a 200 day moving average price of $15.53.
Several hedge funds and other institutional investors have recently made changes to their positions in TSU. State Street Corp boosted its position in shares of TIM Participacoes by 9.4% in the fourth quarter. State Street Corp now owns 375,146 shares of the Wireless communications provider’s stock valued at $4,426,000 after buying an additional 32,085 shares during the last quarter. Credit Suisse AG boosted its position in shares of TIM Participacoes by 101.8% in the first quarter. Credit Suisse AG now owns 8,438,870 shares of the Wireless communications provider’s stock valued at $134,852,000 after buying an additional 4,257,537 shares during the last quarter. Norges Bank bought a new position in shares of TIM Participacoes during the fourth quarter valued at about $787,000. Morgan Stanley boosted its position in shares of TIM Participacoes by 365.5% in the first quarter. Morgan Stanley now owns 2,046,700 shares of the Wireless communications provider’s stock valued at $32,706,000 after buying an additional 1,607,060 shares during the last quarter. Finally, Boussard & Gavaudan Investment Management LLP boosted its position in shares of TIM Participacoes by 685.1% in the second quarter. Boussard & Gavaudan Investment Management LLP now owns 200,215 shares of the Wireless communications provider’s stock valued at $2,921,000 after buying an additional 174,713 shares during the last quarter. 19.49% of the stock is currently owned by institutional investors.
About TIM Participacoes
TIM Participacoes SA (TIM) is a provider of mobile telecommunication services in Brazil. The Company, through its subsidiaries in various telecommunications markets, operates mobile, fixed and long distance telephony, data transmission and ultra-broadband services. Its direct subsidiaries include TIM Celular SA, which provides landline telephone services (commuted fixed telephonic service (STFC))-domestic long distance and international long distance voice services, personal mobile service (SMP) and multimedia communication service (multimedia service of communication (SCM)) in all Brazilian states and in the Federal District, and Intelig Telecomunicacoes Ltda., which provides STFC-local voices services and SCM services in all Brazilian states and in the Federal District.
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