Scotiabank Lowers TIM (NYSE:TIMB) Price Target to $27.00

Key Points

• Scotiabank cut TIM's price target from $29.50 to $27.00 and maintained a "sector perform" rating, implying roughly a 7.9% upside from the then-current share price.
• Analyst sentiment is mixed but leans positive: TIM has a consensus rating of "Moderate Buy" with an average price target of $25.90, amid recent upgrades (New Street, Weiss) and downgrades (Citigroup).
• TIM shares traded at $25.03 after the move (market cap ≈ $12.1B, P/E ~15.7), and the company recently beat EPS estimates ($0.52 vs. $0.48) while slightly missing revenue expectations.

TIM (NYSE:TIMB - Get Free Report) had its price objective dropped by Scotiabank from $29.50 to $27.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a "sector perform" rating on the stock. Scotiabank's target price points to a potential upside of 7.87% from the company's current price.

Other analysts have also issued research reports about the company. Citigroup lowered TIM from a "buy" rating to a "neutral" rating in a research note on Wednesday, January 21st. New Street Research raised TIM from a "neutral" rating to a "buy" rating in a research note on Tuesday, April 7th. Bradesco Corretora lowered TIM to a "neutral" rating in a research note on Tuesday, April 28th. Weiss Ratings raised TIM from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, March 16th. Finally, Barclays increased their price objective on TIM from $26.00 to $27.00 and gave the company an "equal weight" rating in a research note on Wednesday, April 15th. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $25.90.

TIM Price Performance

TIM stock traded down $2.07 during trading hours on Wednesday, hitting $25.03. The stock had a trading volume of 421,118 shares, compared to its average volume of 417,508. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.89 and a quick ratio of 0.86. The stock has a market capitalization of $12.12 billion, a price-to-earnings ratio of 15.65, a PEG ratio of 0.66 and a beta of 0.43. TIM has a 1-year low of $16.64 and a 1-year high of $28.22. The stock's fifty day moving average is $26.24 and its two-hundred day moving average is $23.83.

TIM (NYSE:TIMB - Get Free Report) last posted its earnings results on Tuesday, February 10th. The company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.04. The company had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.30 billion. TIM had a return on equity of 17.84% and a net margin of 16.28%. As a group, analysts predict that TIM will post 1.9 earnings per share for the current fiscal year.

Institutional Trading of TIM

Hedge funds have recently added to or reduced their stakes in the business. Allianz Asset Management GmbH acquired a new stake in TIM in the 3rd quarter worth about $2,393,000. Archford Capital Strategies LLC purchased a new position in shares of TIM in the 4th quarter worth about $676,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of TIM by 102.1% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 38,702 shares of the company's stock worth $753,000 after purchasing an additional 19,552 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of TIM by 9.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 448,722 shares of the company's stock worth $10,015,000 after purchasing an additional 38,649 shares during the period. Finally, Assetmark Inc. raised its holdings in shares of TIM by 7.3% in the 4th quarter. Assetmark Inc. now owns 412,099 shares of the company's stock worth $8,015,000 after purchasing an additional 28,065 shares during the period.

About TIM

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. TIM S.A is based in Rio de Janeiro, Brazil. The company operates as a subsidiary of TIM Brasil Serviços e Participações SA

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