Barclays Issues Pessimistic Forecast for TIM (NYSE:TIMB) Stock Price

TIM (NYSE:TIMB) had its price objective reduced by stock analysts at Barclays from $24.00 to $22.00 in a report released on Monday, Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Barclays‘s price objective would indicate a potential upside of 23.72% from the company’s current price.

Several other equities research analysts also recently issued reports on TIMB. Bank of America raised TIM from an “underperform” rating to a “neutral” rating in a report on Tuesday, October 13th. Morgan Stanley reissued a “market perform” rating and issued a $22.00 price objective on shares of TIM in a research report on Thursday, August 20th. Weiss Ratings cut shares of TIM from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, October 23rd. Finally, Wall Street Zen cut shares of TIM from a “buy” rating to a “hold” rating in a research note on Saturday, August 29th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, TIM presently has a consensus rating of “Hold” and a consensus target price of $24.48.

TIM Stock Performance

Shares of NYSE TIMB traded up $0.10 during midday trading on Monday, hitting $17.78. 353,501 shares of the company’s stock were exchanged, compared to its average volume of 493,194. 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 $15.94 and a 12 month high of $28.22. The company’s 50 day moving average price is $18.42 and its 200 day moving average price is $22.09. The firm has a market capitalization of $8.51 billion, a PE ratio of 10.52, a price-to-earnings-growth ratio of 1.61 and a beta of 0.39.

Institutional Trading of TIM

Several hedge funds have recently added to or reduced their stakes in TIMB. Assetmark Inc. boosted its stake in TIM by 19.0% in the 1st quarter. Assetmark Inc. now owns 490,478 shares of the company’s stock valued at $12,993,000 after purchasing an additional 78,379 shares during the period. Bank of America Corp DE increased its position in TIM by 199.8% during the 1st quarter. Bank of America Corp DE now owns 251,330 shares of the company’s stock worth $6,658,000 after buying an additional 167,504 shares during the period. Hsbc Holdings PLC increased its position in TIM by 55.5% during the 1st quarter. Hsbc Holdings PLC now owns 135,167 shares of the company’s stock worth $3,578,000 after buying an additional 48,232 shares during the period. Dimensional Fund Advisors LP increased its position in TIM by 2.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 94,380 shares of the company’s stock worth $2,500,000 after buying an additional 2,437 shares during the period. Finally, Quantinno Capital Management LP lifted its holdings in shares of TIM by 1.6% during the first quarter. Quantinno Capital Management LP now owns 80,757 shares of the company’s stock worth $2,139,000 after buying an additional 1,267 shares in the last quarter.

About TIM

TIM SA is a Brazilian telecommunications company that provides mobile and fixed-line communications services to consumers, businesses and public-sector customers. Its offerings include voice and data plans, mobile internet, broadband connectivity and related digital services.

The company operates a nationwide wireless network, including 4G and 5G services, and provides connectivity solutions for corporate and institutional customers. Its business portfolio also includes Internet of Things applications, managed connectivity and other digital and technology services.

TIM traces its Brazilian operations to the late 1990s and has developed into one of the country’s major mobile operators.