TIM (NYSE:TIMB) Shares Gap Up Following Better-Than-Expected Earnings

TIM S.A. Sponsored ADR (NYSE:TIMB)’s share price gapped up prior to trading on Wednesday after the company announced better than expected quarterly earnings. The stock had previously closed at $25.22, but opened at $27.00. TIM shares last traded at $27.3160, with a volume of 102,262 shares trading hands.

The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.38). TIM had a return on equity of 17.72% and a net margin of 16.28%.The company had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.30 billion.

TIM Announces Dividend

The firm also recently announced a special dividend, which was paid on Wednesday, January 7th. Shareholders of record on Monday, December 29th were paid a $0.6784 dividend. The ex-dividend date was Monday, December 29th. TIM’s dividend payout ratio (DPR) is presently 87.50%.

Analysts Set New Price Targets

TIMB has been the subject of several research reports. Bank of America initiated coverage on shares of TIM in a research report on Thursday, December 11th. They issued an “underperform” rating and a $24.00 price objective for the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of TIM in a research note on Monday, December 29th. Citigroup lowered TIM from a “buy” rating to a “neutral” rating in a report on Wednesday, January 21st. HSBC raised TIM from a “hold” rating to a “buy” rating and raised their price objective for the company from $21.00 to $27.00 in a research report on Wednesday, November 5th. Finally, Zacks Research upgraded shares of TIM from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 15th. Two research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $23.25.

Institutional Investors Weigh In On TIM

Several large investors have recently made changes to their positions in TIMB. Global Retirement Partners LLC lifted its stake in TIM by 5,590.5% in the third quarter. Global Retirement Partners LLC now owns 1,195 shares of the company’s stock valued at $27,000 after acquiring an additional 1,174 shares during the last quarter. TD Private Client Wealth LLC acquired a new stake in shares of TIM in the 3rd quarter valued at $28,000. EverSource Wealth Advisors LLC boosted its holdings in TIM by 188.1% in the second quarter. EverSource Wealth Advisors LLC now owns 2,060 shares of the company’s stock worth $41,000 after purchasing an additional 1,345 shares in the last quarter. Hantz Financial Services Inc. increased its position in TIM by 303.1% during the second quarter. Hantz Financial Services Inc. now owns 2,064 shares of the company’s stock worth $42,000 after buying an additional 1,552 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in TIM during the second quarter valued at about $42,000.

TIM Stock Up 7.4%

The company has a market cap of $13.11 billion, a price-to-earnings ratio of 16.92, a PEG ratio of 0.77 and a beta of 0.47. The business has a 50-day simple moving average of $21.80 and a two-hundred day simple moving average of $21.65. The company has a quick ratio of 0.94, a current ratio of 0.96 and a debt-to-equity ratio of 0.55.

TIM Company Profile

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