TIM (NYSE:TIMB) Sees Strong Trading Volume After Analyst Upgrade

Shares of TIM S.A. Sponsored ADR (NYSE:TIMB) saw strong trading volume on Tuesday after New Street Research upgraded the stock from a neutral rating to a buy rating. 535,303 shares changed hands during trading, an increase of 25% from the previous session’s volume of 427,302 shares.The stock last traded at $25.8540 and had previously closed at $26.01.

Other research analysts also recently issued research reports about the stock. Scotiabank increased their price objective on shares of TIM from $23.60 to $29.50 and gave the company a “sector perform” rating in a research report on Monday, March 30th. Citigroup downgraded shares of TIM from a “buy” rating to a “neutral” rating in a research report on Wednesday, January 21st. Weiss Ratings upgraded shares of TIM from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, March 16th. Barclays increased their price objective on shares of TIM from $23.50 to $26.00 and gave the company an “equal weight” rating in a research report on Monday, March 2nd. Finally, Bank of America assumed coverage on shares of TIM in a research report on Thursday, December 11th. They set an “underperform” rating and a $24.00 price objective on the stock. Two analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $24.65.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Ritholtz Wealth Management raised its position in TIM by 0.3% in the third quarter. Ritholtz Wealth Management now owns 150,793 shares of the company’s stock worth $3,366,000 after acquiring an additional 441 shares during the period. Wells Fargo & Company MN raised its position in TIM by 53.8% in the fourth quarter. Wells Fargo & Company MN now owns 1,413 shares of the company’s stock worth $27,000 after acquiring an additional 494 shares during the period. EverSource Wealth Advisors LLC raised its position in TIM by 23.8% in the fourth quarter. EverSource Wealth Advisors LLC now owns 2,619 shares of the company’s stock worth $51,000 after acquiring an additional 504 shares during the period. Kathmere Capital Management LLC raised its position in TIM by 4.4% in the third quarter. Kathmere Capital Management LLC now owns 14,761 shares of the company’s stock worth $329,000 after acquiring an additional 627 shares during the period. Finally, NewEdge Advisors LLC raised its position in TIM by 5.2% in the fourth quarter. NewEdge Advisors LLC now owns 14,551 shares of the company’s stock worth $283,000 after acquiring an additional 714 shares during the period.

TIM Stock Down 0.6%

The company has a debt-to-equity ratio of 0.58, a current ratio of 0.89 and a quick ratio of 0.86. The firm has a market capitalization of $12.52 billion, a P/E ratio of 16.16, a P/E/G ratio of 0.68 and a beta of 0.48. The company’s 50-day simple moving average is $25.66 and its two-hundred day simple moving average is $23.16.

TIM (NYSE:TIMB) last released its quarterly earnings results on Tuesday, February 10th. The company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.04. TIM had a net margin of 16.28% and a return on equity of 17.84%. The business had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.30 billion. As a group, research analysts expect that TIM S.A. Sponsored ADR will post 1.34 earnings per share for the current year.

TIM Announces Dividend

The firm also recently declared a special dividend, which will be paid on Thursday, May 7th. Shareholders of record on Monday, March 30th will be given a $0.1552 dividend. The ex-dividend date is Monday, March 30th. TIM’s dividend payout ratio (DPR) is presently 91.88%.

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