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

Key Points

• Barclays raised its price target on TIM to $22 from $20 while maintaining an “equal weight” rating; the new target implies 14.7% upside from the prior close.
• Analyst sentiment remains cautious: MarketBeat reports a consensus “Hold” rating and an average target price of $23.98.
• TIM reported quarterly EPS of $0.46, beating the $0.43 estimate, while revenue of $1.36 billion fell short of the $1.37 billion forecast.

TIM (NYSE:TIMB - Get Free Report) had its target price raised by research analysts at Barclays from $20.00 to $22.00 in a report issued on Friday, Benzinga reports. The firm currently has an "equal weight" rating on the stock. Barclays's target price suggests a potential upside of 14.70% from the company's previous close.

Other equities research analysts have also issued research reports about the stock. Wall Street Zen lowered shares of TIM from a "buy" rating to a "hold" rating in a report on Saturday, August 29th. Morgan Stanley reiterated a "market perform" rating and issued a $22.00 target price on shares of TIM in a research report on Thursday, August 20th. Weiss Ratings downgraded shares of TIM from a "hold (c+)" rating to a "hold (c)" rating in a research note on Friday, October 23rd. Finally, Bank of America upgraded shares of TIM from an "underperform" rating to a "neutral" rating in a research report on Tuesday, October 13th. Two equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $23.98.

TIM Price Performance

TIMB stock traded up $0.18 during trading on Friday, hitting $19.18. The stock had a trading volume of 84,503 shares, compared to its average volume of 502,158. TIM has a twelve month low of $15.94 and a twelve month high of $28.22. The company's 50-day moving average price is $18.48 and its two-hundred day moving average price is $21.93. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.85 and a quick ratio of 0.82. The stock has a market capitalization of $9.18 billion, a P/E ratio of 11.69, a PEG ratio of 1.78 and a beta of 0.39.

TIM (NYSE:TIMB - Get Free Report) last announced its earnings results on Monday, November 9th. The company reported $0.46 EPS for the quarter, beating analysts' consensus estimates of $0.43 by $0.03. The business had revenue of $1.36 billion during the quarter, compared to analysts' expectations of $1.37 billion. TIM had a return on equity of 17.88% and a net margin of 14.76%. As a group, research analysts predict that TIM will post 1.79 EPS for the current fiscal year.

Institutional Trading of TIM

Several hedge funds have recently made changes to their positions in TIMB. First Trust Advisors LP acquired a new position in shares of TIM in the 3rd quarter valued at $298,000. Ieq Capital LLC purchased a new stake in TIM in the 3rd quarter valued at about $650,000. Hantz Financial Services Inc. raised its holdings in TIM by 12.0% in the 3rd quarter. Hantz Financial Services Inc. now owns 9,713 shares of the company's stock valued at $173,000 after buying an additional 1,037 shares during the period. Ethic Inc. raised its holdings in TIM by 76.8% in the 3rd quarter. Ethic Inc. now owns 54,011 shares of the company's stock valued at $964,000 after buying an additional 23,468 shares during the period. Finally, Parallel Advisors LLC lifted its position in TIM by 15.9% in the third quarter. Parallel Advisors LLC now owns 9,029 shares of the company's stock valued at $161,000 after buying an additional 1,239 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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