TIM (NYSE:TIMB) Announces Earnings Results

Key Points

• TIM matched earnings expectations, reporting quarterly earnings of $0.43 per share, in line with the consensus estimate. The company posted a 17.77% return on equity and a 16.00% net margin.
• Shares fell to $20.87, while analysts maintained a generally cautious outlook: TIM has an average rating of “Hold” and an average price target of $25.23.
• TIM declared a $0.1618 special dividend, payable July 29 to shareholders of record June 29. The company’s current payout ratio is 68.90%.

TIM (NYSE:TIMB - Get Free Report) posted its quarterly earnings results on Monday. The company reported $0.43 earnings per share for the quarter, hitting the consensus estimate of $0.43, Zacks reports. TIM had a return on equity of 17.77% and a net margin of 16.00%.

TIM Stock Performance

Shares of NYSE:TIMB traded down $0.43 on Monday, hitting $20.87. The company had a trading volume of 475,958 shares, compared to its average volume of 414,529. The stock has a market cap of $10.11 billion, a price-to-earnings ratio of 12.73, a P/E/G ratio of 1.10 and a beta of 0.38. The stock has a 50 day moving average price of $21.85 and a 200 day moving average price of $23.87. TIM has a 1-year low of $17.65 and a 1-year high of $28.22. The company has a current ratio of 0.92, a quick ratio of 0.89 and a debt-to-equity ratio of 0.58.

TIM Dividend Announcement

The business also recently disclosed a special dividend, which will be paid on Wednesday, July 29th. Shareholders of record on Monday, June 29th will be issued a $0.1618 dividend. The ex-dividend date is Monday, June 29th. TIM's payout ratio is currently 68.90%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. The Goldman Sachs Group assumed coverage on shares of TIM in a research note on Monday, May 18th. They issued a "neutral" rating and a $23.40 target price for the company. New Street Research raised shares of TIM from a "neutral" rating to a "buy" rating in a research report on Tuesday, April 7th. Zacks Research downgraded shares of TIM from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 15th. Wall Street Zen cut shares of TIM from a "strong-buy" rating to a "buy" rating in a report on Monday, May 25th. Finally, Barclays cut their target price on shares of TIM from $28.00 to $24.00 and set an "equal weight" rating for the company in a research note on Friday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $25.23.

Insider Activity

In related news, insider Auana Mattar Lima sold 8,200 shares of TIM stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $4.42, for a total transaction of $36,244.00. Following the completion of the sale, the insider owned 36,686 shares of the company's stock, valued at approximately $162,152.12. The trade was a 18.27% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Marques Andrea Palma Viegas sold 35,000 shares of the company's stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $4.32, for a total transaction of $151,200.00. Following the completion of the transaction, the chief financial officer owned 83,259 shares in the company, valued at approximately $359,678.88. This trade represents a 29.60% decrease in their position. The disclosure for this sale is available in the SEC filing.

Hedge Funds Weigh In On TIM

Several institutional investors and hedge funds have recently made changes to their positions in TIMB. Renaissance Technologies LLC lifted its holdings in shares of TIM by 4.7% during the fourth quarter. Renaissance Technologies LLC now owns 1,848,386 shares of the company's stock worth $35,951,000 after buying an additional 82,700 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of TIM by 4.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,056,805 shares of the company's stock valued at $16,539,000 after acquiring an additional 47,130 shares during the period. State Street Corp grew its stake in TIM by 5.3% during the fourth quarter. State Street Corp now owns 657,839 shares of the company's stock worth $13,464,000 after buying an additional 33,364 shares in the last quarter. Schroder Investment Management Group lifted its holdings in shares of TIM by 2.2% during the 3rd quarter. Schroder Investment Management Group now owns 449,225 shares of the company's stock worth $9,860,000 after acquiring an additional 9,879 shares during the period. Finally, Citadel Advisors LLC lifted its position in shares of TIM by 878.4% during the 3rd quarter. Citadel Advisors LLC now owns 370,982 shares of the company's stock worth $8,280,000 after buying an additional 333,066 shares during the last quarter.

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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