TIM (NYSE:TIMB) Stock Rating Lowered by Wall Street Zen

TIM (NYSE:TIMB) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Saturday.

Several other research analysts have also recently weighed in on the company. Zacks Research cut TIM from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 15th. Morgan Stanley reaffirmed a “market perform” rating and set a $22.00 price target on shares of TIM in a report on Thursday, August 20th. The Goldman Sachs Group initiated coverage on TIM in a research report on Monday, May 18th. They set a “neutral” rating and a $23.40 price objective on the stock. Scotiabank lifted their price objective on TIM from $27.00 to $28.50 and gave the stock a “sector perform” rating in a report on Wednesday, May 27th. Finally, Santander raised TIM from a “neutral” rating to an “outperform” rating in a research report on Monday, June 22nd. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $24.82.

TIM Price Performance

Shares of TIMB opened at $17.65 on Friday. The company has a market capitalization of $8.55 billion, a P/E ratio of 10.44, a price-to-earnings-growth ratio of 1.18 and a beta of 0.40. 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 firm has a 50 day moving average of $20.06 and a 200 day moving average of $23.12. TIM has a twelve month low of $17.14 and a twelve month high of $28.22.

TIM (NYSE:TIMB) last announced its quarterly earnings data on Wednesday, June 17th. The company reported $0.42 earnings per share for the quarter. The company had revenue of $1.35 billion during the quarter. TIM had a net margin of 15.73% and a return on equity of 17.99%. As a group, equities research analysts anticipate that TIM will post 1.82 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other TIM news, CFO Marques Andrea Palma Viegas sold 35,000 shares of the business’s stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $4.32, for a total transaction of $151,200.00. Following the completion of the sale, the chief financial officer directly owned 83,259 shares in the company, valued at approximately $359,678.88. The trade was a 29.60% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Hedge Funds Weigh In On TIM

A number of institutional investors and hedge funds have recently modified their holdings of the company. Inspire Investing LLC raised its holdings in TIM by 10.1% in the 1st quarter. Inspire Investing LLC now owns 4,191 shares of the company’s stock worth $111,000 after purchasing an additional 386 shares during the period. Wells Fargo & Company MN lifted its position in TIM by 53.8% during the fourth quarter. Wells Fargo & Company MN now owns 1,413 shares of the company’s stock valued at $27,000 after purchasing an additional 494 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in TIM by 23.8% during the fourth quarter. EverSource Wealth Advisors LLC now owns 2,619 shares of the company’s stock valued at $51,000 after purchasing an additional 504 shares during the period. NewEdge Advisors LLC grew its holdings in TIM by 5.2% during the fourth quarter. NewEdge Advisors LLC now owns 14,551 shares of the company’s stock valued at $283,000 after purchasing an additional 714 shares during the period. Finally, DGS Capital Management LLC increased its position in TIM by 1.9% in the first quarter. DGS Capital Management LLC now owns 40,919 shares of the company’s stock worth $1,084,000 after buying an additional 753 shares in the last quarter.

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