Zacks Investment Research Downgrades TIM (NYSE:TIMB) to Hold

TIM (NYSE:TIMBGet Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Friday, Zacks.com reports.

According to Zacks, “TIM PARTICIPAÇÕES S.A. is a holding company, the single company in Brazil to offer mobile cellular service throughout the Brazilian territory, by means of its subsidiaries TIM Celular S.A. and TIM Nordeste S.A. The company is the largest GSM (Global System for Mobile communications) operator of the country, in terms of clients and revenues and TIM Participações ended the 3Q08 with 35.2 million clients and a market share of 25%. “

Separately, Citigroup started coverage on shares of TIM in a report on Monday. They set a “buy” rating on the stock. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $15.75.

TIMB opened at $14.25 on Friday. The stock has a market capitalization of $6.90 billion, a PE ratio of 12.50, a P/E/G ratio of 1.16 and a beta of 0.74. The firm’s fifty day moving average price is $13.72 and its 200 day moving average price is $12.29. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.45 and a quick ratio of 1.43. TIM has a 12-month low of $9.81 and a 12-month high of $15.61.

TIM (NYSE:TIMBGet Rating) last posted its quarterly earnings results on Thursday, February 24th. The company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.08. The firm had revenue of $860.05 million for the quarter, compared to analysts’ expectations of $854.97 million. TIM had a net margin of 16.41% and a return on equity of 8.98%. On average, equities research analysts forecast that TIM will post 0.77 earnings per share for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in TIMB. Citadel Advisors LLC increased its holdings in shares of TIM by 58.4% in the 2nd quarter. Citadel Advisors LLC now owns 24,075 shares of the company’s stock worth $278,000 after acquiring an additional 8,880 shares during the period. Morgan Stanley grew its position in TIM by 13.8% in the 2nd quarter. Morgan Stanley now owns 372,110 shares of the company’s stock valued at $4,287,000 after buying an additional 45,058 shares in the last quarter. Signaturefd LLC grew its position in TIM by 148.3% in the 3rd quarter. Signaturefd LLC now owns 4,913 shares of the company’s stock valued at $53,000 after buying an additional 2,934 shares in the last quarter. BlackRock Inc. grew its position in TIM by 3.4% in the 3rd quarter. BlackRock Inc. now owns 603,875 shares of the company’s stock valued at $6,485,000 after buying an additional 20,010 shares in the last quarter. Finally, American Century Companies Inc. grew its position in TIM by 86.5% in the 3rd quarter. American Century Companies Inc. now owns 26,804 shares of the company’s stock valued at $288,000 after buying an additional 12,432 shares in the last quarter. 4.92% of the stock is currently owned by institutional investors and hedge funds.

TIM Company Profile (Get Rating)

TIM SA (Brazil) engages in providing mobile telephony, internet, and media telecommunication services. It offers modem, tablet, cell phone, and ultra fixed broadband. The company was founded on March 9, 1998 and is headquartered in Rio de Janeiro, Brazil.

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