TIM (NYSE:TIMB) Reaches New 12-Month High – Still a Buy?

TIM S.A. Sponsored ADR (NYSE:TIMB)’s share price hit a new 52-week high on Friday . The company traded as high as $24.50 and last traded at $24.3960, with a volume of 15172 shares traded. The stock had previously closed at $24.22.

Analyst Ratings Changes

A number of equities research analysts have recently commented on TIMB shares. Scotiabank restated a “sector perform” rating and set a $23.60 target price on shares of TIM in a research report on Wednesday, November 5th. Zacks Research raised TIM from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 15th. Citigroup downgraded TIM from a “buy” rating to a “neutral” rating in a research note on Wednesday, January 21st. Weiss Ratings reiterated a “hold (c+)” rating on shares of TIM in a research report on Monday, December 29th. Finally, HSBC raised shares of TIM from a “hold” rating to a “buy” rating and boosted their price target for the stock from $21.00 to $27.00 in a report on Wednesday, November 5th. Two equities research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $23.25.

TIM Trading Up 0.9%

The company has a 50 day moving average of $21.60 and a 200 day moving average of $21.49. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.94 and a current ratio of 0.96. The stock has a market capitalization of $11.83 billion, a price-to-earnings ratio of 16.74, a P/E/G ratio of 0.76 and a beta of 0.47.

TIM Announces Dividend

The firm also recently declared a special dividend, which was paid on Wednesday, January 7th. Stockholders of record on Monday, December 29th were paid a $0.6784 dividend. The ex-dividend date of this dividend was Monday, December 29th. TIM’s dividend payout ratio (DPR) is currently 96.58%.

Institutional Trading of TIM

A number of hedge funds have recently bought and sold shares of TIMB. Royal Bank of Canada lifted its stake in TIM by 1.3% in the 1st quarter. Royal Bank of Canada now owns 62,008 shares of the company’s stock worth $970,000 after purchasing an additional 789 shares in the last quarter. Amundi purchased a new position in TIM during the first quarter worth approximately $87,000. Goldman Sachs Group Inc. boosted its stake in TIM by 4.7% during the first quarter. Goldman Sachs Group Inc. now owns 1,056,805 shares of the company’s stock worth $16,539,000 after buying an additional 47,130 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in TIM by 7.8% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,658 shares of the company’s stock valued at $174,000 after buying an additional 623 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC increased its stake in shares of TIM by 18.6% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 19,268 shares of the company’s stock worth $389,000 after acquiring an additional 3,016 shares during the last quarter.

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. TIM S.A is based in Rio de Janeiro, Brazil. The company operates as a subsidiary of TIM Brasil Serviços e Participações SA