TIM (NYSE:TIMB) Shares Gap Down – Time to Sell?

Tim S.A. (NYSE:TIMB)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $12.33, but opened at $12.03. TIM shares last traded at $12.04, with a volume of 65,067 shares changing hands.

Analyst Upgrades and Downgrades

TIMB has been the subject of several research analyst reports. UBS Group downgraded shares of TIM from a “buy” rating to a “neutral” rating in a research note on Monday, December 9th. Scotiabank cut their target price on TIM from $24.80 to $23.20 and set a “sector outperform” rating on the stock in a research report on Tuesday, November 5th. Barclays dropped their price target on shares of TIM from $18.00 to $17.50 and set an “equal weight” rating on the stock in a research report on Tuesday, November 12th. Finally, The Goldman Sachs Group cut their price objective on shares of TIM from $16.20 to $14.00 and set a “neutral” rating on the stock in a research report on Thursday.

TIM Price Performance

The firm has a market cap of $5.83 billion, a P/E ratio of 9.56, a price-to-earnings-growth ratio of 0.57 and a beta of 0.84. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.93 and a current ratio of 0.97. The business has a 50-day simple moving average of $13.98 and a 200 day simple moving average of $15.07.

TIM (NYSE:TIMB) last released its quarterly earnings data on Tuesday, November 5th. The company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.09). The business had revenue of $1.16 billion for the quarter. TIM had a net margin of 12.71% and a return on equity of 11.73%. On average, analysts anticipate that Tim S.A. will post 1.2 earnings per share for the current fiscal year.

TIM Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Monday, December 30th will be given a $0.1723 dividend. This is a positive change from TIM’s previous quarterly dividend of $0.09. The ex-dividend date is Monday, December 30th. This represents a $0.69 annualized dividend and a dividend yield of 5.72%. TIM’s dividend payout ratio (DPR) is presently 26.19%.

Institutional Trading of TIM

Several institutional investors have recently modified their holdings of TIMB. CWM LLC lifted its position in TIM by 105.7% during the second quarter. CWM LLC now owns 2,471 shares of the company’s stock worth $35,000 after acquiring an additional 1,270 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of TIM by 10.3% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 119,298 shares of the company’s stock worth $1,708,000 after acquiring an additional 11,150 shares during the period. Hennion & Walsh Asset Management Inc. raised its position in TIM by 15.5% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 36,413 shares of the company’s stock worth $521,000 after purchasing an additional 4,899 shares during the period. Crossmark Global Holdings Inc. purchased a new position in TIM during the 2nd quarter valued at $8,818,000. Finally, Victory Capital Management Inc. raised its holdings in TIM by 7.8% in the second quarter. Victory Capital Management Inc. now owns 46,912 shares of the company’s stock worth $672,000 after buying an additional 3,408 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.