Wall Street Zen Downgrades TIM (NYSE:TIMB) to Buy

TIM (NYSE:TIMB) was downgraded by Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research note issued on Saturday.

A number of other brokerages have also issued reports on TIMB. Barclays raised their target price on shares of TIM from $27.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Friday. Weiss Ratings downgraded shares of TIM from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday. Citigroup downgraded shares of TIM from a “buy” rating to a “neutral” rating in a research note on Wednesday, January 21st. Scotiabank cut their target price on shares of TIM from $29.50 to $27.00 and set a “sector perform” rating on the stock in a research note on Wednesday, May 6th. Finally, Bradesco Corretora downgraded shares of TIM to a “neutral” rating in a research note on Tuesday, April 28th. Two equities research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $26.10.

TIM Trading Up 0.1%

NYSE TIMB opened at $23.82 on Friday. The stock has a market capitalization of $11.53 billion, a P/E ratio of 14.52, a P/E/G ratio of 1.15 and a beta of 0.43. TIM has a 52-week low of $16.64 and a 52-week high of $28.22. The firm has a 50-day moving average price of $26.13 and a 200 day moving average price of $23.87. The company has a quick ratio of 0.89, a current ratio of 0.92 and a debt-to-equity ratio of 0.58.

TIM (NYSE:TIMB) last issued its earnings results on Tuesday, May 5th. The company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.02). TIM had a return on equity of 17.77% and a net margin of 16.00%.The company had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.32 billion. Equities research analysts expect that TIM will post 1.93 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Dimensional Fund Advisors LP boosted its holdings in shares of TIM by 2.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 94,380 shares of the company’s stock valued at $2,500,000 after buying an additional 2,437 shares during the period. Assetmark Inc. boosted its stake in TIM by 19.0% during the 1st quarter. Assetmark Inc. now owns 490,478 shares of the company’s stock valued at $12,993,000 after purchasing an additional 78,379 shares during the period. Hsbc Holdings PLC boosted its stake in TIM by 55.5% during the 1st quarter. Hsbc Holdings PLC now owns 135,167 shares of the company’s stock valued at $3,578,000 after purchasing an additional 48,232 shares during the period. Summit Securities Group LLC acquired a new position in TIM during the 1st quarter valued at about $127,000. Finally, Kathmere Capital Management LLC boosted its stake in TIM by 5.0% during the 1st quarter. Kathmere Capital Management LLC now owns 16,554 shares of the company’s stock valued at $439,000 after purchasing an additional 787 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. TIM S.A is based in Rio de Janeiro, Brazil. The company operates as a subsidiary of TIM Brasil Serviços e Participações SA