TIM (NYSE:TIMB) Cut to Hold at Wall Street Zen

Wall Street Zen cut shares of TIM (NYSE:TIMB) from a buy rating to a hold rating in a report published on Saturday morning.

TIMB has been the topic of a number of other research reports. Scotiabank raised their price target on TIM from $27.00 to $28.50 and gave the stock a “sector perform” rating in a research report on Wednesday, May 27th. Bradesco Corretora lowered TIM to a “neutral” rating in a research report on Tuesday, April 28th. Zacks Research cut TIM from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 15th. Weiss Ratings upgraded shares of TIM from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday. Finally, Santander raised shares of TIM from a “neutral” rating to an “outperform” rating in a research note on Monday, June 22nd. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, TIM has a consensus rating of “Hold” and a consensus price target of $25.38.

TIM Price Performance

TIMB opened at $18.34 on Friday. The company has a quick ratio of 0.82, a current ratio of 0.85 and a debt-to-equity ratio of 0.55. TIM has a 12 month low of $18.23 and a 12 month high of $28.22. The company has a fifty day simple moving average of $21.13 and a 200 day simple moving average of $23.71. The stock has a market cap of $8.88 billion, a P/E ratio of 10.85, a P/E/G ratio of 1.22 and a beta of 0.40.

TIM (NYSE:TIMB) last posted its earnings results on Wednesday, June 17th. The company reported $0.42 earnings per share for the quarter. TIM had a return on equity of 17.99% and a net margin of 15.73%.The firm had revenue of $1.35 billion for the quarter. On average, research analysts expect that TIM will post 1.83 EPS for the current year.

TIM Dividend Announcement

The business also recently disclosed a special dividend, which was paid on Wednesday, July 29th. Stockholders of record on Monday, June 29th were issued a $0.1618 dividend. The ex-dividend date was Monday, June 29th. TIM’s dividend payout ratio (DPR) is presently 61.54%.

Insider Transactions at TIM

In related news, CFO Marques Andrea Palma Viegas sold 35,000 shares of the stock in a transaction that occurred on 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 transaction, the chief financial officer directly owned 83,259 shares of the company’s stock, valued at approximately $359,678.88. This represents a 29.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Auana Mattar Lima sold 8,200 shares of the firm’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $4.42, for a total value of $36,244.00. Following the completion of the transaction, 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 ownership of the stock. The SEC filing for this sale provides additional information.

Institutional Investors Weigh In On TIM

A number of institutional investors and hedge funds have recently made changes to their positions in TIMB. Royal Bank of Canada grew its stake in shares of TIM by 1.3% in the first quarter. Royal Bank of Canada now owns 62,008 shares of the company’s stock valued at $970,000 after buying an additional 789 shares in the last quarter. Amundi bought a new stake in TIM during the first quarter worth $87,000. Goldman Sachs Group Inc. raised its position in TIM by 4.7% during the first quarter. Goldman Sachs Group Inc. now owns 1,056,805 shares of the company’s stock worth $16,539,000 after acquiring an additional 47,130 shares in the last quarter. Creative Planning lifted its stake in TIM by 9.2% in the second quarter. Creative Planning now owns 21,511 shares of the company’s stock valued at $433,000 after acquiring an additional 1,814 shares during the last quarter. Finally, Rhumbline Advisers lifted its stake in TIM by 117.7% in the second quarter. Rhumbline Advisers now owns 10,018 shares of the company’s stock valued at $201,000 after acquiring an additional 5,417 shares during the last quarter.

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