TIM (NYSE:TIMB) Shares Gap Up After Better-Than-Expected Earnings

TIM S.A. Sponsored ADR (NYSE:TIMB)’s share price gapped up before the market opened on Wednesday following a better than expected earnings announcement. The stock had previously closed at $25.22, but opened at $27.00. TIM shares last traded at $27.3160, with a volume of 102,262 shares trading hands.

The company reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.04. 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 Dividend Announcement

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 dividend of $0.6784 per share. The ex-dividend date was Monday, December 29th. TIM’s dividend payout ratio (DPR) is presently 96.58%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on TIMB. Scotiabank reaffirmed a “sector perform” rating and issued a $23.60 price objective on shares of TIM in a research note on Wednesday, November 5th. Bank of America assumed coverage on TIM in a report on Thursday, December 11th. They issued an “underperform” rating and a $24.00 target price on the stock. Citigroup cut TIM from a “buy” rating to a “neutral” rating in a research report on Wednesday, January 21st. Barclays boosted their price objective on shares of TIM from $21.00 to $23.50 and gave the stock an “equal weight” rating in a research report on Friday, November 7th. Finally, Jefferies Financial Group cut shares of TIM from a “buy” rating to a “hold” rating in a research note on Wednesday, November 19th. Two investment analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, TIM currently has a consensus rating of “Hold” and a consensus price target of $23.25.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Global Retirement Partners LLC boosted its stake in shares of TIM by 5,590.5% during the 3rd quarter. Global Retirement Partners LLC now owns 1,195 shares of the company’s stock worth $27,000 after purchasing an additional 1,174 shares during the last quarter. TD Private Client Wealth LLC purchased a new position in shares of TIM during the third quarter valued at approximately $28,000. EverSource Wealth Advisors LLC lifted its stake in shares of TIM by 188.1% during the second quarter. EverSource Wealth Advisors LLC now owns 2,060 shares of the company’s stock valued at $41,000 after buying an additional 1,345 shares during the period. Hantz Financial Services Inc. boosted its position in TIM by 303.1% during the second quarter. Hantz Financial Services Inc. now owns 2,064 shares of the company’s stock worth $42,000 after acquiring an additional 1,552 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in TIM in the 2nd quarter worth approximately $42,000.

TIM Price Performance

The company’s 50 day simple moving average is $21.70 and its 200 day simple moving average is $21.62. The company has a current ratio of 0.96, a quick ratio of 0.94 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $13.17 billion, a PE ratio of 18.66, a PEG ratio of 0.78 and a beta of 0.47.

TIM Company Profile

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