TIM (NYSE:TIMB) Raised to Sector Outperform at Scotiabank

Scotiabank upgraded shares of TIM (NYSE:TIMB) from a sector perform rating to a sector outperform rating in a research note released on Friday morning, Marketbeat Ratings reports. The brokerage currently has $24.80 price objective on the stock, up from their previous price objective of $17.50.

Separately, Barclays reduced their price target on shares of TIM from $19.00 to $18.00 and set an equal weight rating on the stock in a research report on Friday, August 2nd.

TIM Trading Down 0.3 %

TIMB stock opened at $16.95 on Friday. TIM has a 52-week low of $13.84 and a 52-week high of $19.14. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.88 and a quick ratio of 0.85. The business has a fifty day moving average of $15.92 and a two-hundred day moving average of $16.29.

TIM (NYSE:TIMB) last posted its earnings results on Tuesday, July 30th. The company reported $0.31 EPS for the quarter. TIM had a net margin of 12.53% and a return on equity of 11.47%. The company had revenue of $1.21 billion for the quarter. Analysts predict that TIM will post 1.24 EPS for the current fiscal year.

TIM Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 30th. Stockholders of record on Monday, September 30th will be issued a $0.088 dividend. This represents a $0.35 annualized dividend and a dividend yield of 2.08%. The ex-dividend date of this dividend is Monday, September 30th. TIM’s payout ratio is 27.64%.

Hedge Funds Weigh In On TIM

A number of large investors have recently bought and sold shares of TIMB. EverSource Wealth Advisors LLC boosted its stake in shares of TIM by 108.3% in the second quarter. EverSource Wealth Advisors LLC now owns 1,606 shares of the company’s stock valued at $25,000 after buying an additional 835 shares in the last quarter. CWM LLC grew its stake in shares of TIM by 105.7% during the 2nd quarter. CWM LLC now owns 2,471 shares of the company’s stock worth $35,000 after purchasing an additional 1,270 shares during the period. DGS Capital Management LLC increased its holdings in shares of TIM by 4.6% in the 1st quarter. DGS Capital Management LLC now owns 29,620 shares of the company’s stock valued at $526,000 after purchasing an additional 1,297 shares in the last quarter. Janiczek Wealth Management LLC boosted its holdings in TIM by 13.8% during the first quarter. Janiczek Wealth Management LLC now owns 21,742 shares of the company’s stock worth $386,000 after buying an additional 2,635 shares in the last quarter. Finally, XTX Topco Ltd grew its position in TIM by 26.1% during the second quarter. XTX Topco Ltd now owns 13,264 shares of the company’s stock worth $190,000 after buying an additional 2,746 shares during the period.

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.