TIM (NYSE:TIMB) Releases Quarterly Earnings Results, Beats Estimates By $0.10 EPS

TIM (NYSE:TIMB) issued its quarterly earnings results on Monday. The company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.10, Zacks reports. The company had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.21 billion. TIM had a return on equity of 13.99% and a net margin of 13.91%.

TIM Price Performance

TIM stock traded up $0.83 during mid-day trading on Wednesday, reaching $23.57. The company had a trading volume of 122,395 shares, compared to its average volume of 475,640. TIM has a fifty-two week low of $11.32 and a fifty-two week high of $23.61. The company has a market cap of $11.41 billion, a P/E ratio of 18.27, a P/E/G ratio of 0.88 and a beta of 0.65. The company has a current ratio of 0.91, a quick ratio of 0.88 and a debt-to-equity ratio of 0.54. The business has a fifty day simple moving average of $21.69 and a 200 day simple moving average of $19.62.

TIM Announces Dividend

The business also recently disclosed a special dividend, which will be paid on Wednesday, January 28th. Investors of record on Friday, October 3rd will be paid a $0.1888 dividend. The ex-dividend date of this dividend is Friday, October 3rd. TIM’s dividend payout ratio is presently 73.64%.

Analysts Set New Price Targets

A number of research firms have commented on TIMB. HSBC raised shares of TIM from a “hold” rating to a “buy” rating and upped their price target for the stock from $21.00 to $27.00 in a research note on Wednesday. Barclays upped their target price on TIM from $20.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Monday, October 6th. Citigroup began coverage on TIM in a research report on Wednesday, September 10th. They set a “buy” rating on the stock. JPMorgan Chase & Co. upped their price objective on TIM from $22.00 to $24.50 and gave the company an “overweight” rating in a report on Friday, August 8th. Finally, Zacks Research raised TIM from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 15th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.60.

Institutional Investors Weigh In On TIM

Institutional investors have recently modified their holdings of the company. Quantinno Capital Management LP grew its position in shares of TIM by 10.1% during the 2nd quarter. Quantinno Capital Management LP now owns 56,685 shares of the company’s stock worth $1,140,000 after buying an additional 5,208 shares during the period. Creative Planning boosted its stake in TIM by 9.2% during the 2nd quarter. Creative Planning now owns 21,511 shares of the company’s stock valued at $433,000 after purchasing an additional 1,814 shares during the last quarter. Vident Advisory LLC grew its holdings in TIM by 9.9% during the second quarter. Vident Advisory LLC now owns 48,333 shares of the company’s stock worth $972,000 after buying an additional 4,339 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in TIM by 4.7% during the first quarter. Goldman Sachs Group Inc. now owns 1,056,805 shares of the company’s stock worth $16,539,000 after purchasing an additional 47,130 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of TIM by 188.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,060 shares of the company’s stock worth $41,000 after buying an additional 1,345 shares during the last quarter.

TIM Company Profile

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.