TIM (NYSE:TIMB) Price Target Raised to $29.50

TIM (NYSE:TIMB) had its price target lifted by Scotiabank from $23.60 to $29.50 in a report published on Monday,Benzinga reports. Scotiabank currently has a sector perform rating on the stock.

A number of other research analysts have also recently issued reports on the stock. Citigroup cut shares of TIM from a “buy” rating to a “neutral” rating in a research note on Wednesday, January 21st. Weiss Ratings raised TIM from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 16th. Barclays lifted their price target on TIM from $23.50 to $26.00 and gave the company an “equal weight” rating in a research note on Monday, March 2nd. Finally, Bank of America initiated coverage on TIM in a report on Thursday, December 11th. They set an “underperform” rating and a $24.00 price target for the company. 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 company’s stock. Based on data from MarketBeat, TIM presently has an average rating of “Moderate Buy” and a consensus price target of $24.65.

TIM Trading Up 1.1%

TIMB opened at $26.77 on Monday. The stock has a market capitalization of $12.96 billion, a price-to-earnings ratio of 16.73, a P/E/G ratio of 0.68 and a beta of 0.48. The company has a quick ratio of 0.86, a current ratio of 0.89 and a debt-to-equity ratio of 0.58. TIM has a twelve month low of $14.18 and a twelve month high of $27.74. The company has a 50-day simple moving average of $25.47 and a 200 day simple moving average of $23.05.

TIM (NYSE:TIMB) last released its earnings results on Tuesday, February 10th. The company reported $0.52 EPS for the quarter, beating 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 firm had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.30 billion. Analysts predict that TIM will post 1.34 EPS for the current fiscal year.

TIM Announces Dividend

The business also recently disclosed a special dividend, which will be paid on Thursday, May 7th. Investors 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 dividend payout ratio is currently 91.88%.

Institutional Trading of TIM

A number of hedge funds have recently added to or reduced their stakes in the stock. DGS Capital Management LLC increased its holdings in shares of TIM by 5.2% during the fourth quarter. DGS Capital Management LLC now owns 40,166 shares of the company’s stock worth $781,000 after buying an additional 1,999 shares in the last quarter. Invesco Ltd. acquired a new stake in shares of TIM during the 4th quarter valued at $1,253,000. Vident Advisory LLC boosted its holdings in shares of TIM by 3.4% during the 4th 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 in the last quarter. NewEdge Advisors LLC grew its position in TIM by 5.2% during the 4th 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 last quarter. Finally, XTX Topco Ltd grew its position in TIM by 4.5% during the 4th quarter. XTX Topco Ltd now owns 31,607 shares of the company’s stock worth $615,000 after acquiring an additional 1,366 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