Scotiabank Cuts TIM (NYSE:TIMB) Price Target to $27.00

TIM (NYSE:TIMB) had its price objective cut by Scotiabank from $29.50 to $27.00 in a report published on Wednesday,Benzinga reports. They currently have a sector perform rating on the stock.

Several other research analysts have also weighed in on the stock. Weiss Ratings upgraded shares of TIM from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, March 16th. New Street Research upgraded shares of TIM from a “neutral” rating to a “buy” rating in a research note on Tuesday, April 7th. Barclays boosted their target price on shares of TIM from $26.00 to $27.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 15th. Citigroup downgraded shares of TIM from a “buy” rating to a “neutral” rating in a research report on Wednesday, January 21st. Finally, Bradesco Corretora downgraded shares of TIM to a “neutral” rating in a research report on Tuesday, April 28th. Two research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $26.10.

TIM Stock Up 0.9%

TIMB stock opened at $23.82 on Wednesday. TIM has a 52-week low of $16.64 and a 52-week high of $28.22. The company’s 50 day simple moving average is $26.13 and its 200-day simple moving average is $23.87. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.92 and a quick ratio of 0.86. The firm has a market capitalization of $11.53 billion, a P/E ratio of 14.52, a P/E/G ratio of 1.36 and a beta of 0.43.

TIM (NYSE:TIMB) last released its quarterly earnings results 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 net margin of 16.00% and a return on equity of 17.77%. The firm had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.32 billion. As a group, equities research analysts anticipate that TIM will post 1.9 EPS for the current year.

TIM Announces Dividend

The firm also recently disclosed a special dividend, which was paid on Thursday, May 7th. Stockholders of record on Monday, March 30th were paid a $0.1552 dividend. The ex-dividend date was Monday, March 30th. TIM’s dividend payout ratio is currently 67.07%.

Hedge Funds Weigh In On TIM

A number of hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP raised its stake in shares of TIM by 2.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 94,380 shares of the company’s stock valued at $2,500,000 after buying an additional 2,437 shares in the last quarter. Assetmark Inc. increased its position 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 purchasing an additional 78,379 shares in the last quarter. Hsbc Holdings PLC increased 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 worth $3,578,000 after purchasing an additional 48,232 shares in the last quarter. Summit Securities Group LLC acquired a new stake in shares of TIM during the 1st quarter worth about $127,000. Finally, Kathmere Capital Management LLC increased its position in shares of TIM by 5.0% during the 1st quarter. Kathmere Capital Management LLC now owns 16,554 shares of the company’s stock worth $439,000 after purchasing an additional 787 shares in the last quarter.

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