TIM (NYSE:TIMB) Upgraded by New Street Research to “Buy” Rating

New Street Research upgraded shares of TIM (NYSE:TIMB) from a neutral rating to a buy rating in a research report report published on Tuesday morning, Marketbeat reports.

A number of other equities analysts have also commented on the stock. Scotiabank increased their price target on shares of TIM from $23.60 to $29.50 and gave the stock a “sector perform” rating in a report on Monday, March 30th. Citigroup lowered shares of TIM from a “buy” rating to a “neutral” rating in a report on Wednesday, January 21st. Barclays increased their price target on shares of TIM from $23.50 to $26.00 and gave the stock an “equal weight” rating in a report on Monday, March 2nd. Bank of America started coverage on shares of TIM in a report on Thursday, December 11th. They issued an “underperform” rating and a $24.00 price target on the stock. Finally, Weiss Ratings raised shares of TIM from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 16th. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $24.65.

TIM Price Performance

Shares of NYSE TIMB opened at $26.04 on Tuesday. The firm has a market capitalization of $12.61 billion, a P/E ratio of 16.27, a P/E/G ratio of 0.68 and a beta of 0.48. The company has a quick ratio of 0.86, a current ratio of 0.89 and a debt-to-equity ratio of 0.58. The stock’s 50-day simple moving average is $25.70 and its two-hundred day simple moving average is $23.19. TIM has a twelve month low of $14.18 and a twelve month high of $27.74.

TIM (NYSE:TIMB) last announced its earnings results on Tuesday, February 10th. The company reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.04. The business had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.30 billion. TIM had a return on equity of 17.84% and a net margin of 16.28%. As a group, equities analysts anticipate that TIM will post 1.34 EPS for the current fiscal year.

TIM Dividend Announcement

The business also recently declared a special dividend, which will be paid on Thursday, May 7th. Investors of record on Monday, March 30th will be given a dividend of $0.1552 per share. The ex-dividend date is Monday, March 30th. TIM’s dividend payout ratio (DPR) is presently 91.88%.

Hedge Funds Weigh In On TIM

Several institutional investors and hedge funds have recently bought and sold shares of TIMB. Global Retirement Partners LLC grew its position in TIM by 5,590.5% during the 3rd quarter. Global Retirement Partners LLC now owns 1,195 shares of the company’s stock worth $27,000 after acquiring an additional 1,174 shares during the last quarter. Wells Fargo & Company MN grew its holdings in TIM by 53.8% in the 4th quarter. Wells Fargo & Company MN now owns 1,413 shares of the company’s stock worth $27,000 after acquiring an additional 494 shares during the last quarter. TD Private Client Wealth LLC bought a new stake in TIM in the 3rd quarter worth $28,000. Kestra Advisory Services LLC purchased a new position in shares of TIM in the fourth quarter valued at about $39,000. Finally, EverSource Wealth Advisors LLC raised its stake in shares of TIM by 188.1% during the second quarter. EverSource Wealth Advisors LLC now owns 2,060 shares of the company’s stock valued at $41,000 after acquiring an additional 1,345 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