Scotiabank Issues Positive Forecast for TIM (NYSE:TIMB) Stock Price

TIM (NYSE:TIMB) had its price objective raised by Scotiabank from $23.60 to $29.50 in a research note published on Monday,Benzinga reports. Scotiabank currently has a sector perform rating on the stock.

A number of other equities analysts also recently commented on TIMB. Weiss Ratings upgraded TIM from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 16th. Citigroup downgraded shares of TIM from a “buy” rating to a “neutral” rating in a research 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 research note on Monday, March 2nd. Finally, Bank of America began coverage on shares of TIM in a report on Thursday, December 11th. They set an “underperform” rating and a $24.00 price target on the stock. Two analysts have rated the stock with a Strong Buy rating, two have assigned 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 stock currently has an average rating of “Moderate Buy” and an average price target of $24.65.

TIM Price Performance

TIMB opened at $25.51 on Monday. The stock has a fifty day moving average price of $25.31 and a 200 day moving average price of $22.99. 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 has a 1 year low of $14.18 and a 1 year high of $27.74. The stock has a market cap of $12.35 billion, a price-to-earnings ratio of 15.94, a PEG ratio of 0.65 and a beta of 0.45.

TIM (NYSE:TIMB) last issued its earnings results on Tuesday, February 10th. The company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.04. The company 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%. Analysts forecast that TIM will post 1.34 EPS for the current fiscal year.

TIM Announces Dividend

The business also recently declared a special dividend, which will be paid on Thursday, May 7th. Shareholders of record on Monday, March 30th will be given a $0.1552 dividend. The ex-dividend date is Monday, March 30th. TIM’s dividend payout ratio (DPR) is currently 84.38%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Renaissance Technologies LLC lifted its stake in shares of TIM by 4.7% in the fourth quarter. Renaissance Technologies LLC now owns 1,848,386 shares of the company’s stock valued at $35,951,000 after buying an additional 82,700 shares during the period. Goldman Sachs Group Inc. increased 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 valued at $16,539,000 after acquiring an additional 47,130 shares during the period. State Street Corp raised its holdings in TIM by 5.3% in the 4th quarter. State Street Corp now owns 657,839 shares of the company’s stock valued at $13,464,000 after acquiring an additional 33,364 shares in the last quarter. UBS Group AG raised its holdings in TIM by 12.4% in the 4th quarter. UBS Group AG now owns 537,416 shares of the company’s stock valued at $10,453,000 after acquiring an additional 59,136 shares in the last quarter. Finally, Schroder Investment Management Group lifted its position in shares of TIM by 2.2% in the 3rd quarter. Schroder Investment Management Group now owns 449,225 shares of the company’s stock worth $9,860,000 after acquiring an additional 9,879 shares during the period.

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