TIM (NYSE:TIMB) Posts Quarterly Earnings Results, Meets Estimates

TIM (NYSE:TIMB) announced its quarterly earnings data on Monday. The company reported $0.43 earnings per share for the quarter, meeting the consensus estimate of $0.43, Zacks reports. The firm had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.36 billion. TIM had a net margin of 15.73% and a return on equity of 18.42%.

TIM Stock Down 5.1%

Shares of NYSE:TIMB opened at $19.82 on Wednesday. The business’s 50 day moving average is $21.78 and its 200 day moving average is $23.87. TIM has a 12-month low of $17.65 and a 12-month high of $28.22. The stock has a market cap of $9.60 billion, a price-to-earnings ratio of 11.73, a PEG ratio of 1.08 and a beta of 0.38. The company has a quick ratio of 0.89, a current ratio of 0.92 and a debt-to-equity ratio of 0.58.

TIM Dividend Announcement

The business also recently announced a special dividend, which will be paid on Wednesday, July 29th. Stockholders of record on Monday, June 29th will be issued a $0.1618 dividend. The ex-dividend date is Monday, June 29th. TIM’s dividend payout ratio (DPR) is currently 68.90%.

Analysts Set New Price Targets

TIMB has been the subject of a number of research analyst reports. Bradesco Corretora lowered TIM to a “neutral” rating in a research report on Tuesday, April 28th. The Goldman Sachs Group started coverage on TIM in a report on Monday, May 18th. They set a “neutral” rating and a $23.40 price objective for the company. Weiss Ratings cut TIM from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, June 26th. Wall Street Zen lowered shares of TIM from a “strong-buy” rating to a “buy” rating in a research note on Monday, May 25th. Finally, Santander upgraded shares of TIM from a “neutral” rating to an “outperform” rating in a report on Monday, June 22nd. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $25.23.

Insider Buying and Selling at TIM

In other news, CFO Marques Andrea Palma Viegas sold 35,000 shares of the company’s stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $4.32, for a total value of $151,200.00. Following the completion of the sale, the chief financial officer owned 83,259 shares in the company, valued at $359,678.88. This represents a 29.60% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Auana Mattar Lima sold 8,200 shares of the stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $4.42, for a total transaction of $36,244.00. Following the completion of the sale, the insider owned 36,686 shares of the company’s stock, valued at approximately $162,152.12. This represents a 18.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure.

Institutional Investors Weigh In On TIM

Institutional investors have recently added to or reduced their stakes in the company. Brooklyn Investment Group grew its holdings in shares of TIM by 96.0% in the third quarter. Brooklyn Investment Group now owns 12,288 shares of the company’s stock valued at $274,000 after acquiring an additional 6,019 shares in the last quarter. Guggenheim Capital LLC lifted its holdings in TIM by 28.5% during the fourth quarter. Guggenheim Capital LLC now owns 11,641 shares of the company’s stock worth $226,000 after acquiring an additional 2,582 shares during the period. Sei Investments Co. purchased a new position in TIM in the third quarter worth $219,000. Rhumbline Advisers boosted its position in TIM by 117.7% in the second quarter. Rhumbline Advisers now owns 10,018 shares of the company’s stock worth $201,000 after purchasing an additional 5,417 shares during the last quarter. Finally, Quadrant Capital Group LLC bought a new position in TIM in the 3rd quarter valued at $92,000.

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