TIM (NYSE:TIMB) Sees Unusually-High Trading Volume - What's Next?

Key Points

• TIM shares saw unusually high trading volume, with about 841,741 shares changing hands—73% above the average daily volume—and traded near $17.96.
• Analyst sentiment remains cautious: TIM has an average “Hold” rating and a $24.82 average price target, while several firms recently lowered ratings or targets.
• TIM reported $0.42 in quarterly EPS on $1.35 billion in revenue and announced a special $0.2102-per-share dividend; several institutional investors also increased their holdings.

Shares of TIM S.A. Sponsored ADR (NYSE:TIMB - Get Free Report) saw an uptick in trading volume on Thursday. Approximately 841,741 shares were traded during mid-day trading, an increase of 73% from the average daily volume of 487,016 shares. The stock last traded at $17.9550 and had previously closed at $17.75.

Analyst Ratings Changes

A number of equities analysts have commented on TIMB shares. Weiss Ratings downgraded TIM from a "hold (c+)" rating to a "hold (c)" rating in a research note on Friday, October 23rd. Barclays cut their target price on TIM from $28.00 to $24.00 and set an "equal weight" rating for the company in a research report on Friday, July 10th. Bank of America upgraded TIM from an "underperform" rating to a "neutral" rating in a research report on Tuesday, October 13th. Wall Street Zen lowered shares of TIM from a "buy" rating to a "hold" rating in a research note on Saturday, August 29th. Finally, Morgan Stanley reaffirmed a "market perform" rating and issued a $22.00 target price on shares of TIM in a research report on Thursday, August 20th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat, TIM presently has an average rating of "Hold" and an average price target of $24.82.

TIM Stock Performance

The firm's fifty day moving average price is $18.40 and its 200-day moving average price is $22.12. The company has a current ratio of 0.85, a quick ratio of 0.82 and a debt-to-equity ratio of 0.55. The company has a market cap of $8.52 billion, a P/E ratio of 10.55, a P/E/G ratio of 1.76 and a beta of 0.33.

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. The firm had revenue of $1.35 billion during the quarter. TIM had a return on equity of 17.99% and a net margin of 15.73%. As a group, research analysts forecast that TIM S.A. Sponsored ADR will post 1.82 EPS for the current fiscal year.

TIM Announces Dividend

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

Hedge Funds Weigh In On TIM

Large investors have recently modified their holdings of the stock. Sumitomo Mitsui Trust Group Inc. boosted its stake in TIM by 31.6% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 99,902 shares of the company's stock worth $1,783,000 after acquiring an additional 24,000 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of TIM in the third quarter worth about $43,000. Vise Technologies Inc. lifted its stake in TIM by 18.6% in the 3rd quarter. Vise Technologies Inc. now owns 33,486 shares of the company's stock valued at $598,000 after acquiring an additional 5,252 shares in the last quarter. Signaturefd LLC boosted its holdings in TIM by 38.5% during the third quarter. Signaturefd LLC now owns 8,850 shares of the company's stock worth $158,000 after purchasing an additional 2,458 shares during the last quarter. Finally, Inspire Investing LLC grew its position in TIM by 35.9% in the third quarter. Inspire Investing LLC now owns 5,088 shares of the company's stock valued at $91,000 after purchasing an additional 1,343 shares in the last quarter.

TIM Company 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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