TIM (NYSE:TIMB) Sees Strong Trading Volume – Here’s Why

TIM S.A. Sponsored ADR (NYSE:TIMB) shares saw unusually-strong trading volume on Tuesday . Approximately 580,264 shares changed hands during trading, an increase of 17% from the previous session’s volume of 494,380 shares.The stock last traded at $21.02 and had previously closed at $21.15.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on TIMB shares. Barclays lifted their price target on shares of TIM from $17.50 to $20.00 and gave the stock an “equal weight” rating in a research note on Monday, July 7th. HSBC downgraded shares of TIM to a “hold” rating in a research note on Friday, June 13th. Hsbc Global Res downgraded shares of TIM from a “strong-buy” rating to a “hold” rating in a research note on Thursday, June 12th. Scotiabank boosted their target price on shares of TIM from $19.10 to $23.60 and gave the company a “sector outperform” rating in a research note on Thursday, July 31st. Finally, JPMorgan Chase & Co. boosted their target price on shares of TIM from $22.00 to $24.50 and gave the company an “overweight” rating in a research note on Friday, August 8th. Two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $21.25.

TIM Trading Down 1.8%

The company has a current ratio of 0.91, a quick ratio of 0.88 and a debt-to-equity ratio of 0.54. The business has a 50 day moving average price of $19.67 and a 200 day moving average price of $17.39. The company has a market capitalization of $10.05 billion, a P/E ratio of 16.09, a PEG ratio of 0.84 and a beta of 0.69.

TIM (NYSE:TIMB) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.04. TIM had a return on equity of 13.99% and a net margin of 13.91%.The business had revenue of $1.18 billion during the quarter, compared to analyst estimates of $6.62 billion. Analysts anticipate that TIM S.A. Sponsored ADR will post 1.34 EPS for the current year.

TIM Cuts Dividend

The company also recently declared a special dividend, which will be paid on Tuesday, October 28th. Shareholders of record on Monday, August 4th will be given a dividend of $0.1189 per share. The ex-dividend date of this dividend is Monday, August 4th. This represents a yield of 720.0%. TIM’s dividend payout ratio is 67.44%.

Hedge Funds Weigh In On TIM

Large investors have recently bought and sold shares of the company. GAMMA Investing LLC boosted its position in TIM by 3,331.4% during the 1st quarter. GAMMA Investing LLC now owns 47,388 shares of the company’s stock worth $742,000 after acquiring an additional 46,007 shares during the last quarter. Blue Trust Inc. boosted its position in TIM by 26.2% during the 1st quarter. Blue Trust Inc. now owns 7,687 shares of the company’s stock worth $120,000 after acquiring an additional 1,597 shares during the last quarter. BNP Paribas Financial Markets acquired a new stake in shares of TIM in the 4th quarter valued at approximately $338,000. Millennium Management LLC boosted its holdings in shares of TIM by 68.8% in the 4th quarter. Millennium Management LLC now owns 34,106 shares of the company’s stock valued at $401,000 after buying an additional 13,905 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. boosted its holdings in shares of TIM by 37.0% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 106,903 shares of the company’s stock valued at $1,257,000 after buying an additional 28,881 shares during the last quarter.

TIM Company Profile

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.