American Century Companies Inc. Acquires 17,720 Shares of TIM S.A. Sponsored ADR $TIMB

Key Points

• American Century Companies Inc. increased its stake in TIM S.A. Sponsored ADR by 5.3%, acquiring an additional 17,720 shares, bringing its total ownership to 352,399 shares valued at $5.5 million.
• The company reported earnings of $0.35 per share for the last quarter, exceeding analysts' expectations of $0.31, with a total revenue of $1.18 billion.
• A special dividend of $0.1189 will be paid to stockholders on October 28, presenting a staggering 720.0% dividend yield.

American Century Companies Inc. lifted its position in TIM S.A. Sponsored ADR (NYSE:TIMB - Free Report) by 5.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 352,399 shares of the company's stock after purchasing an additional 17,720 shares during the quarter. American Century Companies Inc. owned about 0.07% of TIM worth $5,515,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. PNC Financial Services Group Inc. increased its stake in TIM by 29.5% in the first quarter. PNC Financial Services Group Inc. now owns 4,258 shares of the company's stock valued at $67,000 after acquiring an additional 969 shares during the last quarter. Blue Trust Inc. increased its stake in TIM by 26.2% in the first quarter. Blue Trust Inc. now owns 7,687 shares of the company's stock valued at $120,000 after acquiring an additional 1,597 shares during the last quarter. GAMMA Investing LLC increased its stake in TIM by 119.3% in the first quarter. GAMMA Investing LLC now owns 3,028 shares of the company's stock valued at $47,000 after acquiring an additional 1,647 shares during the last quarter. Quantinno Capital Management LP increased its stake in TIM by 10.3% in the fourth quarter. Quantinno Capital Management LP now owns 19,388 shares of the company's stock valued at $228,000 after acquiring an additional 1,810 shares during the last quarter. Finally, Two Sigma Advisers LP increased its stake in TIM by 5.2% in the fourth quarter. Two Sigma Advisers LP now owns 58,700 shares of the company's stock valued at $690,000 after acquiring an additional 2,900 shares during the last quarter.

TIM Stock Down 1.6%

Shares of TIMB stock traded down $0.33 during trading hours on Tuesday, hitting $20.82. 1,325,864 shares of the company's stock traded hands, compared to its average volume of 500,175. The stock's fifty day simple moving average is $19.67 and its two-hundred day simple moving average is $17.39. TIM S.A. Sponsored ADR has a 12-month low of $11.32 and a 12-month high of $21.57. The stock has a market cap of $10.08 billion, a price-to-earnings ratio of 16.16, a PEG ratio of 0.84 and a beta of 0.69. The company has a quick ratio of 0.88, a current ratio of 0.91 and a debt-to-equity ratio of 0.54.

TIM (NYSE:TIMB - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $0.35 earnings per share for the quarter, topping analysts' consensus estimates of $0.31 by $0.04. TIM had a net margin of 13.91% and a return on equity of 13.99%. The company had revenue of $1.18 billion during the quarter, compared to analyst estimates of $6.62 billion. On average, analysts expect that TIM S.A. Sponsored ADR will post 1.34 EPS for the current year.

TIM Cuts Dividend

The business also recently announced a special dividend, which will be paid on Tuesday, October 28th. Shareholders of record on Monday, August 4th will be given a $0.1189 dividend. This represents a yield of 720.0%. The ex-dividend date of this dividend is Monday, August 4th. TIM's payout ratio is 67.44%.

Analysts Set New Price Targets

A number of research analysts recently commented on TIMB shares. Hsbc Global Res cut TIM from a "strong-buy" rating to a "hold" rating in a research note on Thursday, June 12th. Barclays increased their target price on TIM from $17.50 to $20.00 and gave the company an "equal weight" rating in a research note on Monday, July 7th. HSBC cut TIM to a "hold" rating in a research note on Friday, June 13th. Scotiabank raised their price objective on TIM from $19.10 to $23.60 and gave the company a "sector outperform" rating in a research note on Thursday, July 31st. Finally, Wall Street Zen upgraded shares of TIM from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 2nd. Two equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, TIM currently has an average rating of "Hold" and a consensus price target of $21.25.

TIM 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.