TIM (NYSE:TIMB) Stock Gets Price Target Reduction from Barclays

TIM (NYSE:TIMB) had its price objective reduced by Barclays from $24.00 to $22.00 in a research note released on Monday morning,Benzinga reports. They currently have an equal weight rating on the stock.

A number of other research analysts have also recently weighed in on TIMB. Bank of America upgraded TIM from an “underperform” rating to a “neutral” rating in a report on Tuesday, October 13th. Morgan Stanley restated a “market perform” rating and set a $22.00 price target on shares of TIM in a research note on Thursday, August 20th. Weiss Ratings downgraded TIM from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, October 23rd. Finally, Wall Street Zen lowered TIM from a “buy” rating to a “hold” rating in a research note on Saturday, August 29th. Two equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $23.98.

TIM Stock Up 2.8%

TIMB stock opened at $18.23 on Monday. The company has a 50 day moving average price of $18.41 and a two-hundred day moving average price of $22.05. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.82 and a current ratio of 0.85. The stock has a market capitalization of $8.72 billion, a P/E ratio of 10.79, a PEG ratio of 1.61 and a beta of 0.39. TIM has a one year low of $15.94 and a one year high of $28.22.

TIM Announces Dividend

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

Institutional Investors Weigh In On TIM

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Ethic Inc. increased its holdings in shares of TIM by 76.8% during the third quarter. Ethic Inc. now owns 54,011 shares of the company’s stock valued at $964,000 after purchasing an additional 23,468 shares during the period. Parallel Advisors LLC raised its stake in shares of TIM by 15.9% during the third quarter. Parallel Advisors LLC now owns 9,029 shares of the company’s stock valued at $161,000 after purchasing an additional 1,239 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its holdings in TIM by 31.6% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 99,902 shares of the company’s stock worth $1,783,000 after purchasing an additional 24,000 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new stake in TIM in the third quarter worth about $43,000. Finally, Vise Technologies Inc. grew its position in TIM by 18.6% in the 3rd quarter. Vise Technologies Inc. now owns 33,486 shares of the company’s stock valued at $598,000 after buying an additional 5,252 shares in the last quarter.

TIM Company Profile

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.