Short Interest in TIM S.A. Sponsored ADR (NYSE:TIMB) Grows By 28.1%

TIM S.A. Sponsored ADR (NYSE:TIMB) was the recipient of a significant growth in short interest during the month of March. As of March 31st, there was short interest totaling 4,212,023 shares, a growth of 28.1% from the March 15th total of 3,288,606 shares. Based on an average daily volume of 378,647 shares, the short-interest ratio is currently 11.1 days. Approximately 0.9% of the company’s shares are short sold.

TIM Stock Performance

Shares of TIMB stock opened at $26.78 on Friday. The stock has a fifty day moving average of $26.24 and a 200 day moving average of $23.48. TIM has a 52 week low of $15.22 and a 52 week high of $28.22. The firm has a market capitalization of $12.97 billion, a price-to-earnings ratio of 16.74, a PEG ratio of 0.68 and a beta of 0.48. The company has a quick ratio of 0.86, a current ratio of 0.89 and a debt-to-equity ratio of 0.58.

TIM (NYSE:TIMB) last announced its quarterly earnings results on Tuesday, February 10th. The company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.04. TIM had a return on equity of 17.84% and a net margin of 16.28%.The company had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.30 billion. As a group, research analysts expect that TIM will post 1.34 earnings per share for the current year.

TIM Announces Dividend

The company also recently disclosed a special dividend, which will be paid on Thursday, May 7th. Shareholders of record on Monday, March 30th will be given a dividend of $0.1552 per share. The ex-dividend date of this dividend is Monday, March 30th. TIM’s dividend payout ratio (DPR) is currently 68.13%.

Hedge Funds Weigh In On TIM

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Allianz Asset Management GmbH purchased a new position in TIM during the third quarter valued at $2,393,000. Capital Insight Partners LLC purchased a new position in TIM during the third quarter valued at $1,116,000. Archford Capital Strategies LLC purchased a new position in TIM during the fourth quarter valued at $676,000. JPMorgan Chase & Co. lifted its position in TIM by 9.4% during the third quarter. JPMorgan Chase & Co. now owns 448,722 shares of the company’s stock valued at $10,015,000 after buying an additional 38,649 shares during the period. Finally, Caprock Group LLC purchased a new position in TIM during the third quarter valued at $866,000.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on TIMB. Citigroup lowered TIM from a “buy” rating to a “neutral” rating in a research note on Wednesday, January 21st. Weiss Ratings raised TIM from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, March 16th. New Street Research raised TIM from a “neutral” rating to a “buy” rating in a research note on Tuesday, April 7th. Scotiabank raised their price target on TIM from $23.60 to $29.50 and gave the stock a “sector perform” rating in a research note on Monday, March 30th. Finally, Barclays raised their price target on TIM from $26.00 to $27.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Two analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $24.82.

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