Barclays Has Lowered Expectations for TIM (NYSE:TIMB) Stock Price

TIM (NYSE:TIMB) had its price objective lowered by Barclays from $22.00 to $20.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Barclays‘s target price indicates a potential upside of 2.28% from the company’s current price.

A number of other equities research analysts have also weighed in on TIMB. Weiss Ratings lowered shares of TIM from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, October 23rd. Bank of America raised shares of TIM from an “underperform” rating to a “neutral” rating in a research note on Tuesday, October 13th. Morgan Stanley restated a “market perform” rating and issued a $22.00 price objective on shares of TIM in a report on Thursday, August 20th. Finally, Wall Street Zen cut TIM from a “buy” rating to a “hold” rating in a research report on Saturday, August 29th. Two investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $23.58.

TIM Trading Up 4.7%

NYSE:TIMB traded up $0.89 during trading hours on Wednesday, hitting $19.55. The company had a trading volume of 154,290 shares, compared to its average volume of 502,104. The company has a market capitalization of $9.36 billion, a PE ratio of 11.98, a price-to-earnings-growth ratio of 1.68 and a beta of 0.39. The stock has a 50-day moving average price of $18.44 and a 200 day moving average price of $21.97. TIM has a 52 week low of $15.94 and a 52 week high of $28.22. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.85 and a quick ratio of 0.82.

TIM (NYSE:TIMB) last issued its quarterly earnings data on Monday, November 9th. The company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.43 by $0.03. TIM had a net margin of 14.76% and a return on equity of 17.88%. The business had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.37 billion. On average, equities research analysts predict that TIM will post 1.79 EPS for the current fiscal year.

Institutional Trading of TIM

A number of hedge funds have recently modified their holdings of TIMB. Assetmark Inc. grew its position in shares of TIM by 19.0% in the 1st quarter. Assetmark Inc. now owns 490,478 shares of the company’s stock worth $12,993,000 after buying an additional 78,379 shares during the period. Bank of America Corp DE increased its stake in shares of TIM by 199.8% in the 1st quarter. Bank of America Corp DE now owns 251,330 shares of the company’s stock worth $6,658,000 after acquiring an additional 167,504 shares in the last quarter. Hsbc Holdings PLC increased its stake in shares of TIM by 55.5% in the 1st quarter. Hsbc Holdings PLC now owns 135,167 shares of the company’s stock worth $3,578,000 after acquiring an additional 48,232 shares in the last quarter. Dimensional Fund Advisors LP increased its stake 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 worth $2,500,000 after acquiring an additional 2,437 shares in the last quarter. Finally, Quantinno Capital Management LP lifted its position in TIM by 1.6% during the 1st quarter. Quantinno Capital Management LP now owns 80,757 shares of the company’s stock valued at $2,139,000 after acquiring an additional 1,267 shares during the period.

About TIM

TIM S.A. is a Brazilian telecommunications company that provides mobile voice and data services to consumers and businesses. Its offerings include mobile plans, internet access and digital services, supported by its wireless network. The company also offers fixed broadband services, including fiber-optic internet, under the TIM brand. It serves customers across Brazil, with mobile coverage extending throughout the country. TIM began operating in Brazil in 1998 and has since expanded its network and range of telecommunications services.