TIM (NYSE:TIMB) Releases Quarterly Earnings Results, Beats Expectations By $0.04 EPS

TIM (NYSE:TIMB) issued its quarterly earnings results on Tuesday, February 10th. The company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.04, Zacks reports. The business had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.30 billion. TIM had a net margin of 16.28% and a return on equity of 17.84%.

TIM Stock Performance

Shares of TIMB stock opened at $26.53 on Wednesday. The stock’s fifty day simple moving average is $25.39 and its 200-day simple moving average is $23.02. The company has a market capitalization of $12.85 billion, a price-to-earnings ratio of 16.58, a P/E/G ratio of 0.65 and a beta of 0.46. TIM has a 1-year low of $14.18 and a 1-year high of $27.74. The company has a current ratio of 0.89, a quick ratio of 0.86 and a debt-to-equity ratio of 0.58.

TIM Announces Dividend

The company also recently disclosed a special dividend, which will be paid on Thursday, May 7th. Shareholders of record on Monday, March 30th will be given a dividend of $0.1552 per share. The ex-dividend date is Monday, March 30th. TIM’s payout ratio is presently 91.87%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Invesco Ltd. bought a new position in TIM during the fourth quarter valued at about $1,253,000. Vident Advisory LLC lifted its holdings in shares of TIM by 3.4% during the fourth quarter. Vident Advisory LLC now owns 65,622 shares of the company’s stock valued at $1,276,000 after acquiring an additional 2,143 shares during the period. NewEdge Advisors LLC grew its holdings in shares of TIM by 5.2% in the 4th quarter. NewEdge Advisors LLC now owns 14,551 shares of the company’s stock worth $283,000 after purchasing an additional 714 shares during the last quarter. XTX Topco Ltd boosted its position in TIM by 4.5% in the fourth quarter. XTX Topco Ltd now owns 31,607 shares of the company’s stock valued at $615,000 after buying an additional 1,366 shares in the last quarter. Finally, Millennium Management LLC raised its stake in shares of TIM by 460.6% in the fourth quarter. Millennium Management LLC now owns 105,334 shares of the company’s stock valued at $2,049,000 after acquiring an additional 86,545 shares during the last quarter.

Wall Street Analyst Weigh In

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

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