Barclays Forecasts Strong Price Appreciation for TIM (NYSE:TIMB) Stock

TIM (NYSE:TIMB) had its price target hoisted by investment analysts at Barclays from $23.50 to $26.00 in a report issued on Monday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Barclays‘s price objective would indicate a potential upside of 2.32% from the stock’s previous close.

Other equities analysts have also issued reports about the stock. Citigroup lowered shares of TIM from a “buy” rating to a “neutral” rating in a research report on Wednesday, January 21st. Scotiabank reiterated a “sector perform” rating and issued a $23.60 price target on shares of TIM in a research report on Wednesday, November 5th. Jefferies Financial Group cut TIM from a “buy” rating to a “hold” rating in a research note on Wednesday, November 19th. Weiss Ratings reissued a “hold (c+)” rating on shares of TIM in a research report on Monday, December 29th. Finally, Bank of America started coverage on TIM in a report on Thursday, December 11th. They issued an “underperform” rating and a $24.00 price objective for the company. Two investment analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $23.67.

TIM Stock Performance

NYSE:TIMB opened at $25.41 on Monday. The stock has a 50 day simple moving average of $23.31 and a 200 day simple moving average of $22.35. The stock has a market cap of $12.30 billion, a P/E ratio of 15.88, a PEG ratio of 0.68 and a beta of 0.46. TIM has a 1-year low of $13.78 and a 1-year high of $27.74. The company has a current ratio of 0.89, a quick ratio of 0.86 and a debt-to-equity ratio of 0.58.

TIM (NYSE:TIMB) last issued its quarterly earnings data on Tuesday, February 10th. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.38). TIM had a net margin of 16.28% and a return on equity of 17.84%. The firm had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.30 billion. Research analysts anticipate that TIM will post 1.34 earnings per share for the current year.

Institutional Investors Weigh In On TIM

Several institutional investors and hedge funds have recently added to or reduced their stakes in TIMB. DGS Capital Management LLC increased its stake in shares of TIM by 5.2% in the 4th quarter. DGS Capital Management LLC now owns 40,166 shares of the company’s stock valued at $781,000 after purchasing an additional 1,999 shares during the last quarter. Invesco Ltd. bought a new stake in shares of TIM during the 4th quarter worth $1,253,000. Vident Advisory LLC boosted its stake in TIM by 3.4% in the fourth quarter. Vident Advisory LLC now owns 65,622 shares of the company’s stock valued at $1,276,000 after buying an additional 2,143 shares in the last quarter. NewEdge Advisors LLC grew its position in TIM by 5.2% in the fourth quarter. NewEdge Advisors LLC now owns 14,551 shares of the company’s stock valued at $283,000 after acquiring an additional 714 shares during the last quarter. Finally, XTX Topco Ltd grew its position in TIM by 4.5% in the fourth quarter. XTX Topco Ltd now owns 31,607 shares of the company’s stock valued at $615,000 after acquiring an additional 1,366 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