TIM (NYSE:TIMB) Rating Increased to Hold at The Goldman Sachs Group

TIM (NYSE:TIMB) was upgraded by research analysts at The Goldman Sachs Group to a “hold” rating in a research report issued on Monday,Zacks.com reports.

Several other research firms have also issued reports on TIMB. Scotiabank reduced their price target on TIM from $29.50 to $27.00 and set a “sector perform” rating on the stock in a research report on Wednesday, May 6th. New Street Research upgraded TIM from a “neutral” rating to a “buy” rating in a research report on Tuesday, April 7th. Citigroup lowered TIM from a “buy” rating to a “neutral” rating in a research report on Wednesday, January 21st. Weiss Ratings lowered TIM from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, May 7th. Finally, Bradesco Corretora lowered TIM to a “neutral” rating in a research report on Tuesday, April 28th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, TIM has an average rating of “Hold” and a consensus target price of $25.65.

TIM Price Performance

Shares of NYSE TIMB opened at $22.17 on Monday. The firm has a market capitalization of $10.73 billion, a P/E ratio of 13.52, a P/E/G ratio of 1.13 and a beta of 0.43. The company has a quick ratio of 0.89, a current ratio of 0.92 and a debt-to-equity ratio of 0.58. The stock’s 50-day simple moving average is $25.60 and its two-hundred day simple moving average is $23.88. TIM has a twelve month low of $16.64 and a twelve month high of $28.22.

TIM (NYSE:TIMB) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.02). TIM had a return on equity of 17.77% and a net margin of 16.00%.The firm had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.32 billion. As a group, equities analysts anticipate that TIM will post 1.81 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN boosted its stake in TIM by 53.8% during the 4th quarter. Wells Fargo & Company MN now owns 1,413 shares of the company’s stock valued at $27,000 after purchasing an additional 494 shares during the last quarter. TD Private Client Wealth LLC purchased a new stake in TIM during the 3rd quarter valued at $28,000. Kestra Advisory Services LLC purchased a new stake in TIM during the 4th quarter valued at $39,000. EverSource Wealth Advisors LLC boosted its stake in TIM by 188.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,060 shares of the company’s stock valued at $41,000 after purchasing an additional 1,345 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in TIM during the 2nd quarter valued at $42,000.

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