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

Wall Street Zen lowered shares of TIM (NYSE:TIMB) from a buy rating to a hold rating in a report issued on Saturday,Wall Street Zen reports.

Other equities research analysts also recently issued reports about the stock. Barclays dropped their price target on shares of TIM from $28.00 to $24.00 and set an “equal weight” rating for the company in a research note on Friday, July 10th. The Goldman Sachs Group initiated coverage on shares of TIM in a research note on Monday, May 18th. They issued a “neutral” rating and a $23.40 price objective on the stock. Morgan Stanley reaffirmed a “market perform” rating and set a $22.00 target price on shares of TIM in a report on Thursday, August 20th. Santander upgraded shares of TIM from a “neutral” rating to an “outperform” rating in a research report on Monday, June 22nd. Finally, Scotiabank increased their target price on TIM from $27.00 to $28.50 and gave the company a “sector perform” rating in a research note on Wednesday, May 27th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $24.82.

TIM Price Performance

TIM stock opened at $17.95 on Friday. The business’s 50-day simple moving average is $19.99 and its 200 day simple moving average is $23.07. The company has a quick ratio of 0.82, a current ratio of 0.85 and a debt-to-equity ratio of 0.55. The stock has a market cap of $8.69 billion, a price-to-earnings ratio of 10.62, a P/E/G ratio of 1.18 and a beta of 0.40. TIM has a 12-month low of $17.14 and a 12-month high of $28.22.

TIM (NYSE:TIMB) last announced its quarterly earnings data 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 during the quarter. As a group, research analysts anticipate that TIM will post 1.82 earnings per share for the current year.

TIM Announces Dividend

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

Insiders Place Their Bets

In other TIM news, CFO Marques Andrea Palma Viegas sold 35,000 shares of the business’s 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 transaction, the chief financial officer owned 83,259 shares of the company’s stock, valued at $359,678.88. The trade was a 29.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Institutional Trading of TIM

A number of hedge funds have recently made changes to their positions in the business. Ameritas Advisory Services LLC bought a new position in shares of TIM during the 2nd quarter worth approximately $25,000. TD Waterhouse Canada Inc. raised its stake in TIM by 4.6% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 33,394 shares of the company’s stock valued at $713,000 after acquiring an additional 1,460 shares during the period. Nykredit A S bought a new stake in TIM in the 2nd quarter valued at $370,000. Public Employees Retirement System of Ohio acquired a new stake in TIM during the 2nd quarter valued at $295,000. Finally, Eastern Bank acquired a new stake in TIM during the 2nd quarter valued at $34,000.

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