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

TIM (NYSE:TIMB) announced its quarterly earnings data on Monday. The company reported $0.43 earnings per share for the quarter, hitting the consensus estimate of $0.43, Zacks reports. TIM had a return on equity of 17.77% and a net margin of 16.00%.

TIM Trading Down 2.0%

NYSE:TIMB traded down $0.43 during trading hours on Monday, reaching $20.87. The company’s stock had a trading volume of 475,958 shares, compared to its average volume of 414,529. The firm has a 50-day simple moving average of $21.85 and a 200-day simple moving average of $23.87. TIM has a 1 year low of $17.65 and a 1 year high of $28.22. The firm has a market capitalization of $10.11 billion, a price-to-earnings ratio of 12.73, a PEG ratio of 1.10 and a beta of 0.38. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.89 and a current ratio of 0.92.

TIM Dividend Announcement

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

Insider Transactions at TIM

In related news, CFO Marques Andrea Palma Viegas sold 35,000 shares of the stock in a transaction dated Tuesday, June 23rd. The stock was sold at an average price of $4.32, for a total transaction of $151,200.00. Following the completion of the sale, the chief financial officer directly owned 83,259 shares in the company, valued at $359,678.88. This represents a 29.60% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 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 value of $36,244.00. Following the sale, the insider owned 36,686 shares of the company’s stock, valued at $162,152.12. This represents a 18.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Wells Fargo & Company MN increased its position in shares of TIM by 53.8% during the fourth quarter. Wells Fargo & Company MN now owns 1,413 shares of the company’s stock valued at $27,000 after buying an additional 494 shares during the period. Kestra Advisory Services LLC bought a new position in shares of TIM in the 4th quarter worth approximately $39,000. EverSource Wealth Advisors LLC raised its position in shares of TIM by 188.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,060 shares of the company’s stock worth $41,000 after acquiring an additional 1,345 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of TIM in the 2nd quarter valued at approximately $42,000. Finally, Atlas Capital Advisors Inc. purchased a new position in shares of TIM in the 4th quarter valued at approximately $56,000.

Analysts Set New Price Targets

TIMB has been the subject of several analyst reports. Barclays cut their price objective on shares of TIM from $28.00 to $24.00 and set an “equal weight” rating for the company in a report on Friday, July 10th. New Street Research raised TIM from a “neutral” rating to a “buy” rating in a report on Tuesday, April 7th. Scotiabank upped their price target on TIM from $27.00 to $28.50 and gave the company a “sector perform” rating in a research report on Wednesday, May 27th. Bradesco Corretora lowered shares of TIM to a “neutral” rating in a report on Tuesday, April 28th. Finally, Santander raised shares of TIM from a “neutral” rating to an “outperform” rating in a report on Monday, June 22nd. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $25.23.

About TIM

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