TIM (NYSE:TIMB) Upgraded at Bank of America

Bank of America upgraded shares of TIM (NYSE:TIMB) from an underperform rating to a neutral rating in a research note issued to investors on Tuesday, MarketBeat reports.

A number of other equities analysts also recently weighed in on the stock. Barclays lowered their target price on shares of TIM from $28.00 to $24.00 and set an “equal weight” rating for the company in a research note on Friday, July 10th. Weiss Ratings raised shares of TIM from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, October 8th. Wall Street Zen cut shares of TIM from a “buy” rating to a “hold” rating in a research report on Saturday, August 29th. Morgan Stanley reiterated a “market perform” rating and set a $22.00 price target on shares of TIM in a report on Thursday, August 20th. Finally, Santander upgraded TIM from a “neutral” rating to an “outperform” rating in a report on Monday, June 22nd. One research 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 company’s stock. According to MarketBeat.com, TIM currently has a consensus rating of “Hold” and an average price target of $24.82.

TIM Stock Performance

NYSE:TIMB opened at $18.40 on Tuesday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.82 and a current ratio of 0.85. TIM has a fifty-two week low of $17.14 and a fifty-two week high of $28.22. The company has a 50 day simple moving average of $18.29 and a two-hundred day simple moving average of $21.32. The company has a market capitalization of $8.80 billion, a PE ratio of 10.89, a P/E/G ratio of 1.68 and a beta of 0.33.

TIM (NYSE:TIMB) last issued its quarterly earnings results on Wednesday, June 17th. The company reported $0.42 earnings per share (EPS) for the quarter. TIM had a net margin of 15.73% and a return on equity of 17.99%. The firm had revenue of $1.35 billion for the quarter. Research analysts anticipate that TIM will post 1.83 earnings per share for the current year.

TIM Announces Dividend

The firm also recently declared a special dividend, which will be paid on Friday, January 29th. Shareholders of record on Monday, September 28th will be issued a dividend of $0.2102 per share. The ex-dividend date is Monday, September 28th. TIM’s dividend payout ratio is presently 62.13%.

Institutional Trading of TIM

Large investors have recently modified their holdings of the stock. Hsbc Holdings PLC increased 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 acquiring an additional 48,232 shares in the last quarter. Bank of America Corp DE boosted 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 acquiring an additional 167,504 shares in the last quarter. Assetmark Inc. boosted its stake in TIM by 19.0% during the first quarter. Assetmark Inc. now owns 490,478 shares of the company’s stock worth $12,993,000 after acquiring an additional 78,379 shares in the last quarter. Ameritas Advisory Services LLC bought a new position in TIM during the second quarter worth $25,000. Finally, Public Employees Retirement System of Ohio acquired a new stake in TIM in the second quarter worth $295,000.

TIM Company Profile

TIM SA is a Brazilian telecommunications company that provides mobile and fixed-line communications services to consumers, businesses and government customers. Its offerings include voice and messaging, mobile data, broadband internet, digital services and related connectivity solutions.

The company operates a nationwide telecommunications network in Brazil and serves customers through retail stores, digital channels and business-focused sales operations. TIM also provides enterprise services such as connectivity, information technology and communications solutions, including products related to the Internet of Things, cloud computing and managed networks.

TIM SA traces its roots to the launch of TIM Brasil in the late 1990s and is part of the Telecom Italia Group.