TIM (NYSE:TIMB) Sees Unusually-High Trading Volume – Still a Buy?

Shares of TIM S.A. Sponsored ADR (NYSE:TIMB) saw strong trading volume on Wednesday . 428,699 shares changed hands during trading, a decline of 2% from the previous session’s volume of 437,703 shares.The stock last traded at $18.8110 and had previously closed at $18.73.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Wall Street Zen lowered shares of TIM from a “buy” rating to a “hold” rating in a research note on Saturday, August 29th. Zacks Research downgraded shares of TIM from a “strong-buy” rating to a “hold” rating in a report on Friday, May 15th. Santander raised shares of TIM from a “neutral” rating to an “outperform” rating in a research report on Monday, June 22nd. Scotiabank boosted their price target on shares of TIM from $27.00 to $28.50 and gave the stock a “sector perform” rating in a report on Wednesday, May 27th. Finally, Morgan Stanley reaffirmed a “market perform” rating and issued a $22.00 price objective on shares of TIM in a research report on Thursday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $24.82.

TIM Stock Performance

The company’s 50-day moving average is $19.51 and its two-hundred day moving average is $22.64. The company has a quick ratio of 0.82, a current ratio of 0.85 and a debt-to-equity ratio of 0.55. The company has a market cap of $9.28 billion, a P/E ratio of 11.34, a price-to-earnings-growth ratio of 1.26 and a beta of 0.38.

TIM (NYSE:TIMB) last announced its quarterly earnings data on Wednesday, June 17th. The company reported $0.42 EPS for the quarter. The business had revenue of $1.35 billion for the quarter. TIM had a net margin of 15.73% and a return on equity of 17.99%. Equities analysts predict that TIM S.A. Sponsored ADR will post 1.82 EPS for the current year.

TIM Dividend Announcement

The business also recently declared a special dividend, which was paid on Wednesday, July 29th. Stockholders of record on Monday, June 29th were paid a dividend of $0.1618 per share. The ex-dividend date was Monday, June 29th. TIM’s dividend payout ratio (DPR) is presently 61.54%.

Insider Activity at TIM

In related news, CFO Marques Andrea Palma Viegas sold 35,000 shares of TIM stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $4.32, for a total value of $151,200.00. Following the sale, the chief financial officer owned 83,259 shares of the company’s stock, valued at approximately $359,678.88. The trade was a 29.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Hedge Funds Weigh In On TIM

Institutional investors and hedge funds have recently bought and sold shares of the company. Ameritas Advisory Services LLC bought a new stake in shares of TIM in the second quarter valued at $25,000. Wells Fargo & Company MN grew its stake in shares of TIM by 53.8% during the 4th quarter. Wells Fargo & Company MN now owns 1,413 shares of the company’s stock worth $27,000 after acquiring an additional 494 shares during the period. Eastern Bank bought a new position in shares of TIM during the 2nd quarter worth $34,000. Kestra Advisory Services LLC bought a new position in shares of TIM during the 4th quarter worth $39,000. Finally, EverSource Wealth Advisors LLC increased its holdings in TIM by 188.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,060 shares of the company’s stock worth $41,000 after acquiring an additional 1,345 shares during the last quarter.

TIM Company Profile

TIM SA is a Brazilian telecommunications company that provides mobile and fixed-line communications services to consumers, businesses and public-sector customers. Its offerings include mobile voice and data plans, broadband connectivity, digital services and related communications solutions.

The company operates a nationwide mobile network serving customers across Brazil, with services supported by 4G and 5G technologies. TIM also provides fixed broadband through fiber-based connections in selected locations and offers enterprise solutions such as connectivity, cloud-related services, machine-to-machine communications and Internet of Things applications.

Founded in Brazil in 1998 as part of the Telecom Italia group, TIM expanded through network development and acquisitions, including the purchase of mobile assets from Oi in 2022.