TIM (NYSE:TIMB) Announces Quarterly Earnings Results

TIM (NYSE:TIMB) issued its quarterly earnings results on Monday. The company reported $0.43 earnings per share for the quarter, hitting the consensus estimate of $0.43, Zacks reports. The company had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.36 billion. TIM had a return on equity of 17.77% and a net margin of 16.00%.

TIM Trading Down 2.0%

NYSE:TIMB opened at $20.87 on Tuesday. The stock has a 50-day simple moving average of $21.83 and a 200-day simple moving average of $23.87. The stock has a market cap of $10.11 billion, a P/E ratio of 12.73, a P/E/G ratio of 1.10 and a beta of 0.38. TIM has a 1 year low of $17.65 and a 1 year high of $28.22. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.89 and a current ratio of 0.92.

TIM Announces Dividend

The firm also recently declared a special dividend, which will be paid on Wednesday, July 29th. Shareholders of record on Monday, June 29th will be issued a dividend of $0.1618 per share. The ex-dividend date of this dividend is Monday, June 29th. TIM’s payout ratio is 68.90%.

Analysts Set New Price Targets

A number of brokerages have recently commented on TIMB. Santander raised TIM from a “neutral” rating to an “outperform” rating in a research report on Monday, June 22nd. The Goldman Sachs Group began coverage on shares of TIM in a research note on Monday, May 18th. They set a “neutral” rating and a $23.40 target price on the stock. Bradesco Corretora cut shares of TIM to a “neutral” rating in a report on Tuesday, April 28th. New Street Research upgraded shares of TIM from a “neutral” rating to a “buy” rating in a research note on Tuesday, April 7th. Finally, Wall Street Zen cut shares of TIM from a “strong-buy” rating to a “buy” rating in a report on Monday, May 25th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $25.23.

Insider Transactions at TIM

In related news, insider Auana Mattar Lima sold 8,200 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $4.42, for a total transaction of $36,244.00. Following the completion of the sale, the insider owned 36,686 shares in the company, valued at $162,152.12. The trade was a 18.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Marques Andrea Palma Viegas sold 35,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $4.32, for a total value of $151,200.00. Following the sale, the chief financial officer owned 83,259 shares of the company’s stock, valued at approximately $359,678.88. The trade was a 29.60% decrease in their position. The SEC filing for this sale provides additional information.

Hedge Funds Weigh In On TIM

Several hedge funds have recently added to or reduced their stakes in the stock. Vident Advisory LLC lifted its position in shares of TIM by 9.9% during the 2nd quarter. Vident Advisory LLC now owns 48,333 shares of the company’s stock worth $972,000 after buying an additional 4,339 shares during the last quarter. Cerity Partners LLC boosted its holdings in shares of TIM by 9.8% in the 4th quarter. Cerity Partners LLC now owns 42,164 shares of the company’s stock valued at $820,000 after buying an additional 3,763 shares in the last quarter. Lazard Asset Management LLC grew its position in shares of TIM by 2.7% in the 3rd quarter. Lazard Asset Management LLC now owns 36,236 shares of the company’s stock valued at $809,000 after buying an additional 969 shares during the last quarter. Boston Partners purchased a new position in shares of TIM in the 4th quarter valued at $778,000. Finally, Aquatic Capital Management LLC raised its stake in TIM by 150.7% during the 3rd quarter. Aquatic Capital Management LLC now owns 33,720 shares of the company’s stock worth $753,000 after acquiring an additional 20,271 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