TIM (NYSE:TIMB) Announces Quarterly Earnings Results, Beats Estimates By $0.04 EPS

TIM (NYSE:TIMB) issued its quarterly earnings results on Tuesday. The company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.04, Zacks reports. TIM had a net margin of 15.35% and a return on equity of 15.72%. The business had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.30 billion.

TIM Price Performance

NYSE TIMB traded up $2.43 during trading hours on Wednesday, hitting $27.65. The company had a trading volume of 175,461 shares, compared to its average volume of 435,248. The firm has a 50 day simple moving average of $21.70 and a 200 day simple moving average of $21.62. TIM has a 52 week low of $13.65 and a 52 week high of $27.52. The firm has a market capitalization of $13.39 billion, a price-to-earnings ratio of 18.94, a PEG ratio of 0.78 and a beta of 0.47. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.94 and a current ratio of 0.96.

TIM Announces Dividend

The business also recently declared a special dividend, which was paid on Wednesday, January 7th. Stockholders of record on Monday, December 29th were given a $0.6784 dividend. The ex-dividend date was Monday, December 29th. TIM’s payout ratio is 96.58%.

Analysts Set New Price Targets

Several research firms have weighed in on TIMB. Barclays upped their price objective on shares of TIM from $21.00 to $23.50 and gave the stock an “equal weight” rating in a report on Friday, November 7th. Citigroup downgraded shares of TIM from a “buy” rating to a “neutral” rating in a research report on Wednesday, January 21st. Scotiabank reaffirmed a “sector perform” rating and issued a $23.60 price target on shares of TIM in a research report on Wednesday, November 5th. Zacks Research upgraded TIM from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 15th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of TIM in a report on Monday, December 29th. Two equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, TIM currently has an average rating of “Hold” and an average price target of $23.25.

Institutional Investors Weigh In On TIM

Large investors have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC raised its position in TIM by 188.1% in the second quarter. EverSource Wealth Advisors LLC now owns 2,060 shares of the company’s stock worth $41,000 after acquiring an additional 1,345 shares during the period. Raymond James Financial Inc. bought a new position in TIM in the 2nd quarter worth $42,000. Quadrant Capital Group LLC purchased a new position in TIM during the third quarter valued at $92,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new stake in TIM during the second quarter valued at about $85,000. Finally, Amundi bought a new stake in TIM during the first quarter valued at about $87,000.

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. TIM S.A is based in Rio de Janeiro, Brazil. The company operates as a subsidiary of TIM Brasil Serviços e Participações SA