TIM (NYSE:TIMB) Upgraded by Scotiabank to Sector Outperform

Scotiabank upgraded shares of TIM (NYSE:TIMB) from a sector perform rating to a sector outperform rating in a research note published on Friday, Marketbeat reports. The brokerage currently has $24.80 target price on the stock, up from their prior target price of $17.50.

Separately, Barclays decreased their price target on shares of TIM from $19.00 to $18.00 and set an equal weight rating on the stock in a research note on Friday, August 2nd.

TIM Stock Down 0.3 %

Shares of TIMB opened at $16.95 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.88 and a quick ratio of 0.85. TIM has a 1-year low of $13.84 and a 1-year high of $19.14. The firm has a 50 day simple moving average of $15.92 and a 200-day simple moving average of $16.29.

TIM (NYSE:TIMB) last released its quarterly earnings results on Tuesday, July 30th. The company reported $0.31 earnings per share for the quarter. The company had revenue of $1.21 billion during the quarter. TIM had a return on equity of 11.47% and a net margin of 12.53%. Analysts anticipate that TIM will post 1.24 earnings per share for the current year.

TIM Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 30th. Shareholders of record on Monday, September 30th will be paid a dividend of $0.088 per share. This represents a $0.35 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date is Monday, September 30th. TIM’s dividend payout ratio is presently 27.64%.

Institutional Trading of TIM

A number of hedge funds have recently added to or reduced their stakes in TIMB. Assetmark Inc. grew its stake in shares of TIM by 5.0% during the 4th quarter. Assetmark Inc. now owns 191,741 shares of the company’s stock valued at $3,541,000 after buying an additional 9,206 shares during the period. US Bancorp DE grew its position in TIM by 814.4% during the first quarter. US Bancorp DE now owns 22,943 shares of the company’s stock valued at $407,000 after acquiring an additional 20,434 shares during the period. Victory Capital Management Inc. acquired a new stake in TIM during the fourth quarter worth about $191,000. Barometer Capital Management Inc. purchased a new stake in shares of TIM during the 4th quarter worth about $118,000. Finally, Summit Global Investments increased its position in TIM by 147.6% during the 2nd quarter. Summit Global Investments now owns 325,462 shares of the company’s stock worth $4,661,000 after purchasing an additional 193,996 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.