TIM (NYSE:TIMB) Price Target Cut to $20.00 by Analysts at Barclays

TIM (NYSE:TIMB) had its price objective trimmed by Barclays from $22.00 to $20.00 in a research note released on Wednesday morning,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

Several other equities analysts have also issued reports on TIMB. Bank of America raised TIM from an “underperform” rating to a “neutral” rating in a research note on Tuesday, October 13th. Weiss Ratings downgraded shares of TIM from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, October 23rd. Wall Street Zen lowered shares of TIM from a “buy” rating to a “hold” rating in a research note on Saturday, August 29th. Finally, Morgan Stanley reiterated a “market perform” rating and set a $22.00 target price on shares of TIM in a research report on Thursday, August 20th. Two equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat, TIM presently has an average rating of “Hold” and an average target price of $23.58.

TIM Stock Performance

TIMB stock opened at $19.52 on Wednesday. The stock has a 50-day moving average price of $18.47 and a 200-day moving average price of $21.95. TIM has a 1-year low of $15.94 and a 1-year high of $28.22. The company has a current ratio of 0.85, a quick ratio of 0.82 and a debt-to-equity ratio of 0.55. The firm has a market cap of $9.34 billion, a PE ratio of 11.90, a price-to-earnings-growth ratio of 1.70 and a beta of 0.39.

TIM (NYSE:TIMB) last announced its quarterly earnings data on Monday, November 9th. The company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.03. TIM had a return on equity of 17.88% and a net margin of 14.76%. The company had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.37 billion. As a group, equities research analysts expect that TIM will post 1.79 earnings per share for the current year.

TIM Dividend Announcement

The company also recently declared 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 presently 64.02%.

Institutional Investors Weigh In On TIM

Several hedge funds and other institutional investors have recently modified their holdings of TIMB. Assetmark Inc. lifted its holdings in shares of TIM by 19.0% in 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. Bank of America Corp DE raised its holdings in TIM by 199.8% during the first 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 last quarter. Hsbc Holdings PLC lifted its stake in shares of TIM by 55.5% in the first quarter. Hsbc Holdings PLC now owns 135,167 shares of the company’s stock valued at $3,578,000 after buying an additional 48,232 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of TIM by 31.6% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 99,902 shares of the company’s stock valued at $1,783,000 after buying an additional 24,000 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of TIM by 2.7% during the first 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 during the last quarter.

About TIM

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.