TIM (NYSE:TIMB) Price Target Raised to $28.50 at Scotiabank

TIM (NYSE:TIMB) had its price objective upped by equities research analysts at Scotiabank from $27.00 to $28.50 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a “sector perform” rating on the stock. Scotiabank’s price target points to a potential upside of 27.03% from the company’s previous close.

Other research analysts also recently issued reports about the company. Barclays boosted their price target on TIM from $27.00 to $28.00 and gave the company an “equal weight” rating in a report on Friday, May 8th. The Goldman Sachs Group assumed coverage on TIM in a research report on Monday, May 18th. They issued a “neutral” rating and a $23.40 price objective for the company. Wall Street Zen lowered TIM from a “strong-buy” rating to a “buy” rating in a research note on Monday. Weiss Ratings downgraded TIM from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, May 7th. Finally, Zacks Research lowered TIM from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 15th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $25.90.

TIM Price Performance

TIMB stock traded down $0.05 during trading on Wednesday, hitting $22.44. The stock had a trading volume of 35,223 shares, compared to its average volume of 423,143. The stock has a market cap of $10.86 billion, a price-to-earnings ratio of 13.71, a price-to-earnings-growth ratio of 1.15 and a beta of 0.43. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.89 and a current ratio of 0.92. The company’s 50 day moving average price is $25.20 and its two-hundred day moving average price is $23.86. TIM has a 1-year low of $16.82 and a 1-year high of $28.22.

TIM (NYSE:TIMB) last released its quarterly earnings results on Tuesday, May 5th. The company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.02). The firm had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.32 billion. TIM had a return on equity of 17.77% and a net margin of 16.00%. On average, sell-side analysts forecast that TIM will post 1.81 EPS for the current fiscal year.

Insider Activity at TIM

In related news, insider Auana Mattar Lima sold 8,200 shares of the stock in a transaction on Monday, May 18th. The stock was sold at an average price of $4.42, for a total value of $36,244.00. Following the transaction, the insider directly owned 36,686 shares of the company’s stock, valued at approximately $162,152.12. This trade represents a 18.27% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Institutional Investors Weigh In On TIM

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wells Fargo & Company MN raised its holdings in shares of TIM by 53.8% in the 4th quarter. Wells Fargo & Company MN now owns 1,413 shares of the company’s stock worth $27,000 after purchasing an additional 494 shares during the period. Kestra Advisory Services LLC acquired a new stake in TIM during the 4th quarter worth approximately $39,000. EverSource Wealth Advisors LLC increased its position in TIM by 188.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,060 shares of the company’s stock worth $41,000 after purchasing an additional 1,345 shares in the last quarter. Raymond James Financial Inc. purchased a new position in TIM in the second quarter valued at approximately $42,000. Finally, Atlas Capital Advisors Inc. purchased a new position in TIM in the fourth quarter valued at approximately $56,000.

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. TIM S.A is based in Rio de Janeiro, Brazil. The company operates as a subsidiary of TIM Brasil Serviços e Participações SA