TIM’s (TIMB) “Sector Perform” Rating Reiterated at Scotiabank

TIM (NYSE:TIMB)‘s stock had its “sector perform” rating reaffirmed by investment analysts at Scotiabank in a note issued to investors on Wednesday, Marketbeat.com reports. They currently have a $23.60 target price on the stock. Scotiabank’s price target suggests a potential upside of 1.86% from the company’s current price.

A number of other brokerages also recently commented on TIMB. Zacks Research raised shares of TIM from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 15th. HSBC raised TIM from a “hold” rating to a “buy” rating and increased their target price for the company from $21.00 to $27.00 in a report on Wednesday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of TIM in a report on Tuesday, October 14th. Citigroup assumed coverage on TIM in a research note on Wednesday, September 10th. They set a “buy” rating for the company. Finally, Wall Street Zen raised TIM from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 20th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $22.60.

TIM Stock Up 1.9%

NYSE TIMB traded up $0.43 during trading hours on Wednesday, hitting $23.17. 430,668 shares of the company were exchanged, compared to its average volume of 477,213. The company has a quick ratio of 0.88, a current ratio of 0.91 and a debt-to-equity ratio of 0.54. The firm has a market cap of $11.22 billion, a price-to-earnings ratio of 17.96, a PEG ratio of 0.88 and a beta of 0.65. The company has a 50 day moving average of $21.69 and a two-hundred day moving average of $19.62. TIM has a 52-week low of $11.32 and a 52-week high of $23.69.

TIM (NYSE:TIMB) last announced its quarterly earnings data on Monday, November 3rd. The company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.10. TIM had a return on equity of 13.99% and a net margin of 13.91%.The business had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.21 billion. Equities research analysts anticipate that TIM will post 1.34 earnings per share for the current year.

Hedge Funds Weigh In On TIM

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Robeco Institutional Asset Management B.V. increased its stake in TIM by 10.8% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 3,482,294 shares of the company’s stock valued at $70,029,000 after buying an additional 339,384 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of TIM by 4.7% in the first quarter. Goldman Sachs Group Inc. now owns 1,056,805 shares of the company’s stock valued at $16,539,000 after acquiring an additional 47,130 shares in the last quarter. American Century Companies Inc. increased its stake in shares of TIM by 26.4% during the second quarter. American Century Companies Inc. now owns 445,578 shares of the company’s stock worth $8,961,000 after acquiring an additional 93,179 shares during the period. Assetmark Inc. raised its holdings in TIM by 15.3% during the second quarter. Assetmark Inc. now owns 380,158 shares of the company’s stock worth $7,645,000 after purchasing an additional 50,379 shares in the last quarter. Finally, Banco BTG Pactual S.A. lifted its position in TIM by 1,302.9% in the first quarter. Banco BTG Pactual S.A. now owns 260,933 shares of the company’s stock valued at $4,084,000 after purchasing an additional 242,333 shares during the period.

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.