TIM (NYSE:TIMB) Given New $17.50 Price Target at Barclays

TIM (NYSE:TIMB) had its target price reduced by Barclays from $18.00 to $17.50 in a report issued on Tuesday,Benzinga reports. They currently have an equal weight rating on the stock.

Separately, Scotiabank reduced their target price on shares of TIM from $24.80 to $23.20 and set a “sector outperform” rating for the company in a research note on Tuesday, November 5th.

TIM Trading Down 0.3 %

TIMB opened at $14.31 on Tuesday. TIM has a 12-month low of $13.74 and a 12-month high of $19.14. 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 stock has a fifty day moving average of $15.80 and a 200-day moving average of $15.70.

TIM (NYSE:TIMB) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.09). TIM had a return on equity of 11.73% and a net margin of 12.71%. The company had revenue of $1.16 billion for the quarter. As a group, research analysts predict that TIM will post 1.27 EPS for the current year.

TIM Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 30th. Investors of record on Monday, September 30th were paid a $0.088 dividend. This represents a $0.35 annualized dividend and a yield of 2.46%. The ex-dividend date was Monday, September 30th. TIM’s dividend payout ratio is 26.98%.

Institutional Investors Weigh In On TIM

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of TIM by 137.7% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 707,710 shares of the company’s stock worth $12,187,000 after purchasing an additional 409,992 shares during the last quarter. Meritage Portfolio Management acquired a new stake in shares of TIM in the 3rd quarter valued at approximately $3,683,000. Assetmark Inc. grew its holdings in TIM by 10.4% during the third quarter. Assetmark Inc. now owns 309,225 shares of the company’s stock valued at $5,325,000 after purchasing an additional 29,030 shares during the period. QRG Capital Management Inc. increased its stake in TIM by 7.9% in the third quarter. QRG Capital Management Inc. now owns 14,881 shares of the company’s stock valued at $256,000 after purchasing an additional 1,085 shares in the last quarter. Finally, Custom Index Systems LLC increased its position in shares of TIM by 17.3% in the 3rd quarter. Custom Index Systems LLC now owns 23,536 shares of the company’s stock valued at $405,000 after buying an additional 3,468 shares in 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.