TIM S.A. Sponsored ADR (NYSE:TIMB) Given Average Recommendation of “Hold” by Brokerages

TIM S.A. Sponsored ADR (NYSE:TIMB) has been given a consensus recommendation of “Hold” by the thirteen ratings firms that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, nine have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $24.8167.

Several research firms recently issued reports on TIMB. Santander upgraded TIM from a “neutral” rating to an “outperform” rating in a report on Monday, June 22nd. Scotiabank increased their target price on TIM from $27.00 to $28.50 and gave the company a “sector perform” rating in a report on Wednesday, May 27th. Morgan Stanley restated a “market perform” rating and issued a $22.00 target price on shares of TIM in a research report on Thursday, August 20th. Weiss Ratings lowered TIM from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday. Finally, Barclays dropped their price target on TIM from $28.00 to $24.00 and set an “equal weight” rating for the company in a research report on Friday, July 10th.

Insider Activity

In other TIM news, CFO Marques Andrea Palma Viegas sold 35,000 shares of the firm’s 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 transaction, the chief financial officer directly 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Institutional Trading of TIM

Large investors have recently added to or reduced their stakes in the stock. Hsbc Holdings PLC lifted 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 valued at $3,578,000 after purchasing an additional 48,232 shares during the last quarter. UBS Group AG grew its holdings in shares of TIM by 12.4% during the 4th quarter. UBS Group AG now owns 537,416 shares of the company’s stock worth $10,453,000 after purchasing an additional 59,136 shares during the period. Bank of America Corp DE increased its position in shares of TIM by 199.8% during the 1st quarter. Bank of America Corp DE now owns 251,330 shares of the company’s stock worth $6,658,000 after purchasing an additional 167,504 shares during the last quarter. Assetmark Inc. increased its position in shares of TIM by 19.0% during the 1st quarter. Assetmark Inc. now owns 490,478 shares of the company’s stock worth $12,993,000 after purchasing an additional 78,379 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in TIM by 129.9% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 62,279 shares of the company’s stock valued at $1,211,000 after buying an additional 35,192 shares during the period.

TIM Price Performance

Shares of NYSE TIMB opened at $19.04 on Wednesday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.82 and a current ratio of 0.85. The firm has a fifty day moving average of $19.34 and a 200 day moving average of $22.47. The firm has a market cap of $9.22 billion, a PE ratio of 11.27, a PEG ratio of 1.27 and a beta of 0.38. TIM has a one year low of $17.14 and a one year high of $28.22.

TIM (NYSE:TIMB) last announced its earnings results on Wednesday, June 17th. The company reported $0.42 earnings per share (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%. As a group, research analysts predict that TIM will post 1.82 EPS for the current fiscal year.

TIM Dividend Announcement

The firm also recently announced a special dividend, which was paid on Wednesday, July 29th. Shareholders of record on Monday, June 29th were paid a dividend of $0.1618 per share. The ex-dividend date of this dividend was Monday, June 29th. TIM’s payout ratio is 61.54%.

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.