TIM S.A. Sponsored ADR $TIMB Stock Sold by Robeco Institutional Asset Management B.V.

Key Points

• Robeco Institutional Asset Management cut its TIM S.A. holdings by 21.8% in the third quarter, selling 833,068 shares and retaining 2.99 million shares worth approximately $53.3 million.
• Analyst sentiment remains cautious: TIM has a consensus “Hold” rating from MarketBeat, with an average price target of $24.82. Bank of America upgraded the stock to “Neutral,” while Barclays lowered its target to $24.
• TIMB opened at $19.47, compared with a 12-month range of $17.14 to $28.22. The company reported quarterly revenue of $1.35 billion and EPS of $0.42, and announced a special dividend of $0.2102 per share.

Robeco Institutional Asset Management B.V. decreased its holdings in TIM S.A. Sponsored ADR (NYSE:TIMB - Free Report) by 21.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,987,854 shares of the company's stock after selling 833,068 shares during the quarter. Robeco Institutional Asset Management B.V. owned about 0.62% of TIM worth $53,333,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of TIMB. Assetmark Inc. grew its position in TIM by 19.0% during the 1st quarter. Assetmark Inc. now owns 490,478 shares of the company's stock worth $12,993,000 after purchasing an additional 78,379 shares during the last quarter. Bank of America Corp DE increased its stake in TIM by 199.8% in the first 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. Hsbc Holdings PLC increased its stake in TIM by 55.5% in the first quarter. Hsbc Holdings PLC now owns 135,167 shares of the company's stock valued at $3,578,000 after purchasing an additional 48,232 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of TIM by 2.7% in the first quarter. Dimensional Fund Advisors LP now owns 94,380 shares of the company's stock valued at $2,500,000 after buying an additional 2,437 shares during the last quarter. Finally, Quantinno Capital Management LP raised its holdings in shares of TIM by 1.6% in the first quarter. Quantinno Capital Management LP now owns 80,757 shares of the company's stock valued at $2,139,000 after buying an additional 1,267 shares during the last quarter.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on TIMB shares. Bank of America upgraded shares of TIM from an "underperform" rating to a "neutral" rating in a research note on Tuesday, October 13th. Weiss Ratings upgraded TIM from a "hold (c)" rating to a "hold (c+)" rating in a research report on Thursday, October 8th. Wall Street Zen cut TIM from a "buy" rating to a "hold" rating in a research report on Saturday, August 29th. Barclays reduced their price objective on TIM from $28.00 to $24.00 and set an "equal weight" rating for the company in a research note on Friday, July 10th. Finally, Morgan Stanley reaffirmed a "market perform" rating and set a $22.00 price objective on shares of TIM in a research report on Thursday, August 20th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $24.82.

TIM Stock Performance

Shares of TIMB stock opened at $19.47 on Friday. The company has a market cap of $9.32 billion, a price-to-earnings ratio of 11.52, a price-to-earnings-growth ratio of 1.77 and a beta of 0.33. The stock has a 50 day simple moving average of $18.38 and a 200-day simple moving average of $21.06. TIM S.A. Sponsored ADR has a 12-month low of $17.14 and a 12-month high of $28.22. The company has a current ratio of 0.85, a quick ratio of 0.82 and a debt-to-equity ratio of 0.55.

TIM (NYSE:TIMB - Get Free Report) last posted its quarterly earnings results on Wednesday, June 17th. The company reported $0.42 EPS for the quarter. TIM had a return on equity of 17.99% and a net margin of 15.73%. The business had revenue of $1.35 billion during the quarter. On average, equities analysts forecast that TIM S.A. Sponsored ADR will post 1.82 EPS for the current year.

TIM Announces Dividend

The firm also recently announced a special dividend, which will be paid on Friday, January 29th. Shareholders of record on Monday, September 28th will be issued a $0.2102 dividend. The ex-dividend date of this dividend is Monday, September 28th. TIM's dividend payout ratio (DPR) is 62.13%.

TIM Profile

TIM SA is a Brazilian telecommunications company that provides mobile and fixed-line communications services to consumers, businesses and public-sector customers. Its offerings include voice and data plans, mobile internet, broadband connectivity and related digital services.

The company operates a nationwide wireless network, including 4G and 5G services, and provides connectivity solutions for corporate and institutional customers. Its business portfolio also includes Internet of Things applications, managed connectivity and other digital and technology services.

TIM traces its Brazilian operations to the late 1990s and has developed into one of the country's major mobile operators.

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