Cerity Partners LLC Acquires 20,222 Shares of TIM S.A. Sponsored ADR (NYSE:TIMB)

Cerity Partners LLC grew its position in TIM S.A. Sponsored ADR (NYSE:TIMB) by 73.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 47,871 shares of the company’s stock after purchasing an additional 20,222 shares during the quarter. Cerity Partners LLC’s holdings in TIM were worth $749,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of TIMB. GAMMA Investing LLC boosted its stake in TIM by 119.3% during the first quarter. GAMMA Investing LLC now owns 3,028 shares of the company’s stock worth $47,000 after acquiring an additional 1,647 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in TIM by 30,036.4% during the first quarter. Farther Finance Advisors LLC now owns 3,315 shares of the company’s stock worth $53,000 after acquiring an additional 3,304 shares in the last quarter. Point72 Hong Kong Ltd bought a new position in TIM during the fourth quarter worth $54,000. Blue Trust Inc. boosted its stake in TIM by 26.2% during the first quarter. Blue Trust Inc. now owns 7,687 shares of the company’s stock worth $120,000 after acquiring an additional 1,597 shares in the last quarter. Finally, EntryPoint Capital LLC acquired a new position in TIM during the fourth quarter worth $146,000.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on TIMB shares. Wall Street Zen downgraded shares of TIM from a “strong-buy” rating to a “buy” rating in a research note on Sunday, June 15th. Barclays upped their price target on shares of TIM from $17.50 to $20.00 and gave the company an “equal weight” rating in a research report on Monday, July 7th. HSBC downgraded TIM to a “hold” rating in a research report on Friday, June 13th. The Goldman Sachs Group increased their target price on TIM from $15.30 to $16.90 and gave the stock a “neutral” rating in a research note on Wednesday, April 30th. Finally, Hsbc Global Res downgraded TIM from a “strong-buy” rating to a “hold” rating in a research report on Thursday, June 12th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, TIM presently has an average rating of “Hold” and a consensus price target of $18.17.

TIM Stock Performance

NYSE TIMB opened at $18.13 on Thursday. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.88 and a quick ratio of 0.86. The business has a 50 day moving average price of $18.53 and a 200 day moving average price of $15.98. The company has a market capitalization of $8.78 billion, a P/E ratio of 14.50, a PEG ratio of 0.73 and a beta of 0.64. TIM S.A. Sponsored ADR has a 1-year low of $11.32 and a 1-year high of $20.78.

TIM (NYSE:TIMB) last announced its quarterly earnings results on Monday, May 5th. The company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.03. The firm had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $6.38 billion. TIM had a net margin of 13.30% and a return on equity of 13.17%. Sell-side analysts expect that TIM S.A. Sponsored ADR will post 1.34 EPS for the current fiscal year.

TIM Dividend Announcement

The business also recently announced an annual dividend, which will be paid on Wednesday, July 30th. Stockholders of record on Friday, May 23rd will be issued a dividend of $0.1086 per share. This represents a dividend yield of 7.6%. The ex-dividend date is Friday, May 23rd. TIM’s dividend payout ratio (DPR) is presently 61.60%.

About TIM

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.