TIM’s (TIMB) Sector Perform Rating Reiterated at Scotiabank

Scotiabank restated their sector perform rating on shares of TIM (NYSE:TIMB) in a research report report published on Wednesday morning, MarketBeat.com reports. They currently have a $23.60 target price on the stock.

Several other research analysts also recently issued reports on the company. HSBC raised TIM from a “hold” rating to a “buy” rating and upped their price objective for the company from $21.00 to $27.00 in a research note on Wednesday. Zacks Research upgraded shares of TIM from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 15th. Barclays raised their price target on shares of TIM from $20.00 to $21.00 and gave the company an “equal weight” rating in a research note on Monday, October 6th. Citigroup initiated coverage on shares of TIM in a research note on Wednesday, September 10th. They issued a “buy” rating on the stock. Finally, Weiss Ratings restated a “hold (c)” rating on shares of TIM in a report on Tuesday, October 14th. Two investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.10.

TIM Stock Up 0.3%

Shares of TIMB opened at $22.87 on Wednesday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.88 and a current ratio of 0.91. TIM has a 52 week low of $11.32 and a 52 week high of $23.69. The stock has a market capitalization of $11.07 billion, a price-to-earnings ratio of 17.73, a PEG ratio of 0.88 and a beta of 0.62. The stock has a fifty day moving average of $21.79 and a 200-day moving average of $19.72.

TIM (NYSE:TIMB) last issued its earnings results on Monday, November 3rd. The company reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.10. The business had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.21 billion. TIM had a return on equity of 13.99% and a net margin of 13.91%. As a group, sell-side analysts anticipate that TIM will post 1.34 earnings per share for the current fiscal year.

TIM Dividend Announcement

The company also recently disclosed a special dividend, which will be paid on Wednesday, January 28th. Stockholders of record on Friday, October 3rd will be given a dividend of $0.1888 per share. The ex-dividend date is Friday, October 3rd. TIM’s dividend payout ratio is 65.07%.

Institutional Trading of TIM

Institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC grew its holdings in TIM by 119.3% during the 1st quarter. GAMMA Investing LLC now owns 3,028 shares of the company’s stock worth $47,000 after acquiring an additional 1,647 shares during the period. Cerity Partners LLC lifted its stake in shares of TIM by 73.1% in the 1st quarter. Cerity Partners LLC now owns 47,871 shares of the company’s stock valued at $749,000 after purchasing an additional 20,222 shares during the period. Altman Advisors Inc. bought a new stake in shares of TIM during the 1st quarter valued at about $1,979,000. Advisors Preferred LLC acquired a new stake in TIM during the first quarter worth approximately $89,000. Finally, Assetmark Inc. grew its stake in TIM by 18.0% during the first quarter. Assetmark Inc. now owns 329,779 shares of the company’s stock worth $5,161,000 after purchasing an additional 50,370 shares during the period.

About TIM

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.