TIM (NYSE:TIMB) Stock Price Target Lowered at Barclays

Key Points

• Barclays cut its price target on TIM from $22 to $20 while maintaining an “equal weight” rating, implying 2.28% upside from the previous close.
• Analyst sentiment is generally neutral: MarketBeat reports a consensus “Hold” rating and an average price target of $23.58, with two Buy ratings and ten Hold ratings.
• TIM reported quarterly EPS of $0.46, beating the $0.43 estimate, while revenue of $1.36 billion came in slightly below analyst expectations.

TIM (NYSE:TIMB - Get Free Report) had its price target reduced by equities researchers at Barclays from $22.00 to $20.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has an "equal weight" rating on the stock. Barclays's target price would suggest a potential upside of 2.28% from the stock's previous close.

Several other brokerages have also issued reports on TIMB. Weiss Ratings lowered TIM from a "hold (c+)" rating to a "hold (c)" rating in a research note on Friday, October 23rd. Wall Street Zen downgraded TIM from a "buy" rating to a "hold" rating in a report on Saturday, August 29th. Bank of America raised TIM from an "underperform" rating to a "neutral" rating in a research note on Tuesday, October 13th. Finally, Morgan Stanley restated a "market perform" rating and set a $22.00 target price on shares of TIM in a report on Thursday, August 20th. Two equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $23.58.

TIM Price Performance

NYSE:TIMB traded up $0.89 during trading hours on Wednesday, hitting $19.55. The stock had a trading volume of 154,290 shares, compared to its average volume of 502,104. The company has a 50 day simple moving average of $18.44 and a two-hundred day simple moving average of $21.97. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.85 and a quick ratio of 0.82. TIM has a one year low of $15.94 and a one year high of $28.22. The firm has a market capitalization of $9.36 billion, a price-to-earnings ratio of 11.98, a P/E/G ratio of 1.68 and a beta of 0.39.

TIM (NYSE:TIMB - Get Free Report) last issued its quarterly earnings data on Monday, November 9th. The company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.43 by $0.03. The company had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.37 billion. TIM had a return on equity of 17.88% and a net margin of 14.76%. Research analysts forecast that TIM will post 1.79 earnings per share for the current fiscal year.

Hedge Funds Weigh In On TIM

A number of hedge funds have recently modified their holdings of the company. Hsbc Holdings PLC boosted its holdings in shares of TIM by 55.5% during the first quarter. Hsbc Holdings PLC now owns 135,167 shares of the company's stock worth $3,578,000 after purchasing an additional 48,232 shares during the period. Bank of America Corp DE increased its holdings in TIM by 199.8% during the 1st quarter. Bank of America Corp DE now owns 251,330 shares of the company's stock valued at $6,658,000 after purchasing an additional 167,504 shares during the period. Assetmark Inc. increased its holdings in TIM by 19.0% during the 1st quarter. Assetmark Inc. now owns 490,478 shares of the company's stock valued at $12,993,000 after purchasing an additional 78,379 shares during the period. Ameritas Advisory Services LLC purchased a new position in TIM during the 2nd quarter valued at about $25,000. Finally, Squarepoint Ops LLC raised its position in TIM by 45.7% during the 2nd quarter. Squarepoint Ops LLC now owns 26,223 shares of the company's stock valued at $562,000 after purchasing an additional 8,226 shares during the last quarter.

About TIM

TIM S.A. is a Brazilian telecommunications company that provides mobile voice and data services to consumers and businesses. Its offerings include mobile plans, internet access and digital services, supported by its wireless network. The company also offers fixed broadband services, including fiber-optic internet, under the TIM brand. It serves customers across Brazil, with mobile coverage extending throughout the country. TIM began operating in Brazil in 1998 and has since expanded its network and range of telecommunications services.

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