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

TIM (NYSE:TIMB) had its target price raised by Barclays from $20.00 to $22.00 in a research report report published on Friday morning,Benzinga reports. Barclays currently has an equal weight rating on the stock.

A number of other research analysts also recently issued reports on the company. Bank of America upgraded TIM from an “underperform” rating to a “neutral” rating in a report on Tuesday, October 13th. Morgan Stanley reiterated a “market perform” rating and issued a $22.00 price objective on shares of TIM in a report on Thursday, August 20th. Wall Street Zen cut TIM from a “buy” rating to a “hold” rating in a report on Saturday, August 29th. Finally, Weiss Ratings lowered TIM from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, October 23rd. Two equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $23.98.

TIM Trading Up 0.4%

TIM stock traded up $0.08 during trading hours on Friday, reaching $19.08. The stock had a trading volume of 438,342 shares, compared to its average volume of 886,731. The stock has a market cap of $9.13 billion, a PE ratio of 11.63, a PEG ratio of 1.73 and a beta of 0.39. TIM has a 52 week low of $15.94 and a 52 week high of $28.22. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.86 and a quick ratio of 0.82. The company has a fifty day simple moving average of $18.49 and a 200-day simple moving average of $21.90.

TIM (NYSE:TIMB) last issued its quarterly earnings data on Monday, November 9th. The company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.43 by $0.03. The firm had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.37 billion. TIM had a net margin of 14.76% and a return on equity of 17.61%. Analysts forecast that TIM will post 1.79 EPS for the current fiscal year.

TIM Announces Dividend

The company also recently disclosed a special dividend, which will be paid on Friday, January 29th. Shareholders of record on Monday, September 28th will be issued a $0.2102 dividend. The ex-dividend date is Monday, September 28th. TIM’s dividend payout ratio is 64.02%.

Insider Buying and Selling

In other TIM news, CFO Marques Andrea Palma Viegas sold 18,000 shares of the firm’s stock in a transaction on Wednesday, November 11th. The stock was sold at an average price of $3.91, for a total transaction of $70,380.00. Following the completion of the transaction, the chief financial officer owned 91,301 shares of the company’s stock, valued at approximately $356,986.91. This trade represents a 16.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Hedge Funds Weigh In On TIM

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Marshall Wace LLP bought a new position in shares of TIM during the third quarter valued at $7,898,000. First Trust Advisors LP bought a new position in TIM in the 3rd quarter worth about $298,000. Ieq Capital LLC purchased a new stake in TIM during the 3rd quarter valued at about $650,000. Hantz Financial Services Inc. grew its position in TIM by 12.0% during the 3rd quarter. Hantz Financial Services Inc. now owns 9,713 shares of the company’s stock valued at $173,000 after purchasing an additional 1,037 shares during the last quarter. Finally, Ethic Inc. raised its holdings in TIM by 76.8% in the third quarter. Ethic Inc. now owns 54,011 shares of the company’s stock worth $964,000 after buying an additional 23,468 shares during the last quarter.

TIM Company Profile

TIM S.A. is a Brazilian telecommunications company that provides mobile voice and data services to consumers and businesses. Its offerings include mobile plans, internet access and digital services, supported by its wireless network. The company also offers fixed broadband services, including fiber-optic internet, under the TIM brand. It serves customers across Brazil, with mobile coverage extending throughout the country. TIM began operating in Brazil in 1998 and has since expanded its network and range of telecommunications services.