TIM (NYSE:TIMB) Downgraded to Hold Rating by Wall Street Zen

Wall Street Zen downgraded shares of TIM (NYSE:TIMB) from a buy rating to a hold rating in a research report released on Saturday morning.

Several other brokerages have also recently commented on TIMB. Scotiabank boosted their target price on TIM from $27.00 to $28.50 and gave the stock a “sector perform” rating in a report on Wednesday, May 27th. Santander raised TIM from a “neutral” rating to an “outperform” rating in a research note on Monday, June 22nd. The Goldman Sachs Group started coverage on TIM in a research report on Monday, May 18th. They set a “neutral” rating and a $23.40 price target on the stock. Barclays dropped their price objective on TIM from $28.00 to $24.00 and set an “equal weight” rating on the stock in a research note on Friday, July 10th. Finally, Bradesco Corretora lowered TIM to a “neutral” rating in a report on Tuesday, April 28th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $25.38.

TIM Stock Performance

TIMB stock opened at $18.45 on Friday. The company has a market capitalization of $8.93 billion, a P/E ratio of 10.92, a PEG ratio of 1.22 and a beta of 0.40. The company has a 50-day simple moving average of $21.20 and a 200 day simple moving average of $23.73. TIM has a fifty-two week low of $18.23 and a fifty-two week high of $28.22. The company has a quick ratio of 0.82, a current ratio of 0.85 and a debt-to-equity ratio of 0.55.

TIM (NYSE:TIMB) last released its earnings results on Wednesday, June 17th. The company reported $0.42 EPS for the quarter. TIM had a net margin of 15.73% and a return on equity of 17.99%. Sell-side analysts predict that TIM will post 1.83 earnings per share for the current fiscal year.

TIM Dividend Announcement

The firm also recently announced a special dividend, which was paid on Wednesday, July 29th. Investors of record on Monday, June 29th were issued 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 Buying and Selling

In other TIM news, insider Auana Mattar Lima sold 8,200 shares of the company’s 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 owned 36,686 shares of the company’s stock, valued at approximately $162,152.12. This represents a 18.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Marques Andrea Palma Viegas sold 35,000 shares of the stock in a transaction 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 $359,678.88. This trade represents a 29.60% decrease in their position. The disclosure for this sale is available in the SEC filing.

Institutional Investors Weigh In On TIM

Several hedge funds have recently modified their holdings of the stock. Eastern Bank purchased a new position in TIM in the 2nd quarter worth about $34,000. NewEdge Advisors LLC lifted its stake in TIM by 47.8% during the first quarter. NewEdge Advisors LLC now owns 21,510 shares of the company’s stock valued at $570,000 after buying an additional 6,959 shares in the last quarter. Bank of America Corp DE lifted its stake in TIM by 199.8% during the first quarter. Bank of America Corp DE now owns 251,330 shares of the company’s stock valued at $6,658,000 after buying an additional 167,504 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of TIM by 73.5% in the first quarter. EverSource Wealth Advisors LLC now owns 4,544 shares of the company’s stock worth $120,000 after buying an additional 1,925 shares during the period. Finally, Quantinno Capital Management LP boosted its holdings in shares of TIM by 1.6% in the first quarter. Quantinno Capital Management LP now owns 80,757 shares of the company’s stock worth $2,139,000 after buying an additional 1,267 shares during the period.

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