Scotiabank Lowers TIM (NYSE:TIMB) Price Target to $23.20

TIM (NYSE:TIMB) had its target price reduced by Scotiabank from $24.80 to $23.20 in a report published on Tuesday morning,Benzinga reports. They currently have a sector outperform rating on the stock.

Separately, Barclays cut their target price on shares of TIM from $19.00 to $18.00 and set an “equal weight” rating for the company in a research report on Friday, August 2nd.

TIM Trading Down 1.1 %

TIM stock opened at $14.11 on Tuesday. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.97 and a quick ratio of 0.85. TIM has a one year low of $13.74 and a one year high of $19.14. The business has a fifty day moving average of $15.91 and a two-hundred day moving average of $15.76.

TIM (NYSE:TIMB) last released its quarterly earnings data on Tuesday, November 5th. The company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.09). TIM had a return on equity of 11.73% and a net margin of 12.71%. The company had revenue of $1.16 billion for the quarter. Research analysts forecast that TIM will post 1.27 EPS for the current fiscal year.

TIM Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 30th. Investors of record on Monday, September 30th were given a dividend of $0.088 per share. This represents a $0.35 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date of this dividend was Monday, September 30th. TIM’s dividend payout ratio (DPR) is presently 26.98%.

Hedge Funds Weigh In On TIM

Hedge funds and other institutional investors have recently made changes to their positions in the business. Quantbot Technologies LP increased its holdings in TIM by 22.8% in the 1st quarter. Quantbot Technologies LP now owns 23,585 shares of the company’s stock valued at $419,000 after purchasing an additional 4,378 shares in the last quarter. Capital Wealth Planning LLC grew its stake in shares of TIM by 34.6% in the first quarter. Capital Wealth Planning LLC now owns 130,472 shares of the company’s stock valued at $2,316,000 after buying an additional 33,537 shares in the last quarter. Headlands Technologies LLC purchased a new stake in shares of TIM during the 1st quarter valued at about $59,000. QRG Capital Management Inc. purchased a new stake in shares of TIM during the 1st quarter valued at about $196,000. Finally, US Bancorp DE lifted its position in TIM by 814.4% during the 1st quarter. US Bancorp DE now owns 22,943 shares of the company’s stock worth $407,000 after acquiring an additional 20,434 shares in the last quarter.

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.