TIM (NYSE:TIMB) Hits New 1-Year Low – Here’s Why

TIM S.A. Sponsored ADR (NYSE:TIMB) shares hit a new 52-week low during mid-day trading on Monday. The stock traded as low as $15.73 and last traded at $16.7820, with a volume of 66,067 shares trading hands. The stock had previously closed at $19.17.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on TIMB shares. Morgan Stanley reaffirmed a “market perform” rating and set a $22.00 price objective on shares of TIM in a research report on Thursday, August 20th. Barclays reduced their price target on TIM from $28.00 to $24.00 and set an “equal weight” rating for the company in a research report on Friday, July 10th. Weiss Ratings downgraded shares of TIM from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday. Bank of America upgraded shares of TIM from an “underperform” rating to a “neutral” rating in a report on Tuesday, October 13th. Finally, Wall Street Zen lowered shares of TIM from a “buy” rating to a “hold” rating in a research note on Saturday, August 29th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat, TIM has an average rating of “Hold” and a consensus target price of $24.82.

TIM Stock Down 16.6%

The stock has a 50 day moving average price of $18.42 and a 200 day moving average price of $21.01. The company has a market capitalization of $7.65 billion, a P/E ratio of 9.47, a PEG ratio of 1.76 and a beta of 0.33. The company has a current ratio of 0.85, a quick ratio of 0.82 and a debt-to-equity ratio of 0.55.

TIM (NYSE:TIMB) last released its quarterly earnings data on Wednesday, June 17th. The company reported $0.42 earnings per share 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. On average, research analysts anticipate that TIM S.A. Sponsored ADR will post 1.82 earnings per share for the current fiscal year.

TIM Dividend Announcement

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

Institutional Trading of TIM

A number of hedge funds and other institutional investors have recently modified their holdings of TIMB. Ameritas Advisory Services LLC bought a new stake in shares of TIM in the 2nd quarter worth approximately $25,000. Eastern Bank bought a new stake in TIM in the second quarter worth $34,000. Integrated Wealth Concepts LLC purchased a new stake in shares of TIM in the second quarter worth $56,000. Inspire Investing LLC grew its stake in shares of TIM by 35.9% in the third quarter. Inspire Investing LLC now owns 5,088 shares of the company’s stock worth $91,000 after acquiring an additional 1,343 shares during the last quarter. Finally, Farther Finance Advisors LLC increased its holdings in shares of TIM by 24.1% during the third quarter. Farther Finance Advisors LLC now owns 5,666 shares of the company’s stock valued at $101,000 after acquiring an additional 1,102 shares in the last quarter.

About TIM

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

The company operates a nationwide wireless network, including 4G and 5G services, and provides connectivity solutions for corporate and institutional customers. Its business portfolio also includes Internet of Things applications, managed connectivity and other digital and technology services.

TIM traces its Brazilian operations to the late 1990s and has developed into one of the country’s major mobile operators.