TIM (NYSE:TIMB) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of TIM (NYSE:TIMB) from a hold rating to a buy rating in a research note released on Sunday morning.

A number of other equities research analysts have also recently commented on TIMB. Santander raised TIM from a “neutral” rating to an “outperform” rating in a research note on Monday, June 22nd. The Goldman Sachs Group initiated coverage on TIM in a research report on Monday, May 18th. They set a “neutral” rating and a $23.40 target price on the stock. Scotiabank increased their target price on TIM from $27.00 to $28.50 and gave the stock a “sector perform” rating in a report on Wednesday, May 27th. Weiss Ratings raised shares of TIM from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, August 6th. Finally, Barclays decreased 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. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, TIM presently has a consensus rating of “Hold” and a consensus price target of $25.38.

TIM Stock Down 1.8%

Shares of NYSE:TIMB opened at $17.27 on Friday. The firm has a market cap of $8.36 billion, a P/E ratio of 10.22, a P/E/G ratio of 1.15 and a beta of 0.40. 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 $17.14 and a 12-month high of $28.22. The business has a fifty day simple moving average of $20.64 and a 200 day simple moving average of $23.47.

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

TIM Announces Dividend

The firm also recently announced 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 of this dividend was Monday, June 29th. TIM’s dividend payout ratio is currently 61.54%.

Insider Activity 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 sale, the chief financial officer directly owned 83,259 shares of the company’s stock, valued at approximately $359,678.88. This trade represents a 29.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Sanctuary Advisors LLC purchased a new stake in TIM in the fourth quarter worth $836,000. Hsbc Holdings PLC lifted its position in shares of TIM by 55.5% during the 1st quarter. Hsbc Holdings PLC now owns 135,167 shares of the company’s stock valued at $3,578,000 after buying an additional 48,232 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of TIM by 102.1% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 38,702 shares of the company’s stock valued at $753,000 after buying an additional 19,552 shares during the last quarter. UBS Group AG grew its stake in shares of TIM by 12.4% during the 4th quarter. UBS Group AG now owns 537,416 shares of the company’s stock worth $10,453,000 after acquiring an additional 59,136 shares during the period. Finally, Assetmark Inc. grew its stake in shares of TIM by 19.0% during the 1st quarter. Assetmark Inc. now owns 490,478 shares of the company’s stock worth $12,993,000 after acquiring an additional 78,379 shares during the period.

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