Citigroup Initiates Coverage on TIM (NYSE:TIMB)

Key Points

• Citigroup has initiated coverage on TIM (NYSE:TIMB) with a "buy" rating, while the consensus rating stands at "Hold" among research analysts.
• Several brokerages have issued varying ratings and price targets for TIM, with Barclays and Scotiabank both increasing their targets in recent months.
• The stock price for TIM reached $20.91 after trading up slightly, with a market cap of $10.12 billion and a twelve month high of $21.57.

Equities research analysts at Citigroup initiated coverage on shares of TIM (NYSE:TIMB - Get Free Report) in a report issued on Wednesday, MarketBeat reports. The firm set a "buy" rating on the stock.

Several other brokerages have also issued reports on TIMB. HSBC lowered TIM to a "hold" rating in a report on Friday, June 13th. Barclays increased their price target on TIM from $17.50 to $20.00 and gave the stock an "equal weight" rating in a report on Monday, July 7th. Scotiabank lifted their price target on TIM from $19.10 to $23.60 and gave the stock a "sector outperform" rating in a report on Thursday, July 31st. JPMorgan Chase & Co. lifted their price target on TIM from $22.00 to $24.50 and gave the stock an "overweight" rating in a report on Friday, August 8th. Finally, Wall Street Zen lowered TIM from a "strong-buy" rating to a "buy" rating in a report on Friday, September 5th. Three research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $21.25.

TIM Trading Up 0.1%

Shares of TIMB stock traded up $0.02 on Wednesday, hitting $20.91. The company had a trading volume of 79,458 shares, compared to its average volume of 505,341. The firm has a market cap of $10.12 billion, a P/E ratio of 16.21, a P/E/G ratio of 0.83 and a beta of 0.69. The stock's 50-day moving average is $19.83 and its two-hundred day moving average is $17.62. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.88 and a current ratio of 0.91. TIM has a twelve month low of $11.32 and a twelve month high of $21.57.

TIM (NYSE:TIMB - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.04. TIM had a return on equity of 13.99% and a net margin of 13.91%.The company had revenue of $1.18 billion during the quarter, compared to analysts' expectations of $6.62 billion. On average, equities research analysts anticipate that TIM will post 1.34 earnings per share for the current fiscal year.

Hedge Funds Weigh In On TIM

Several hedge funds have recently made changes to their positions in the stock. Robeco Institutional Asset Management B.V. lifted its stake in TIM by 10.8% during the second quarter. Robeco Institutional Asset Management B.V. now owns 3,482,294 shares of the company's stock worth $70,029,000 after purchasing an additional 339,384 shares during the last quarter. Goldman Sachs Group Inc. lifted 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 worth $16,539,000 after purchasing an additional 47,130 shares during the last quarter. Crossmark Global Holdings Inc. lifted its stake in TIM by 10.2% during the first quarter. Crossmark Global Holdings Inc. now owns 624,359 shares of the company's stock worth $9,771,000 after purchasing an additional 57,562 shares during the last quarter. American Century Companies Inc. lifted its stake in TIM by 26.4% during the second quarter. American Century Companies Inc. now owns 445,578 shares of the company's stock worth $8,961,000 after purchasing an additional 93,179 shares during the last quarter. Finally, Assetmark Inc. lifted its stake in TIM by 15.3% during the second quarter. Assetmark Inc. now owns 380,158 shares of the company's stock worth $7,645,000 after purchasing an additional 50,379 shares during 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.

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