TIM (NYSE:TIMB) Downgraded by Wall Street Zen to Hold

Key Points

• Wall Street Zen downgraded TIM from “buy” to “hold,” while the broader analyst consensus is also “hold,” with eight holds, three buy/strong-buy ratings, and one sell rating. The average price target is $25.38.
• TIM shares opened at $18.45, near their 52-week low of $18.23 and below the 50-day and 200-day moving averages. The company reported quarterly EPS of $0.42, with a 15.73% net margin and 17.99% return on equity.
• Two insiders recently reduced their holdings by selling shares, while several institutional investors—including Goldman Sachs, Creative Planning, and Rhumbline Advisers— increased their stakes.

TIM (NYSE:TIMB - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report released on Saturday.

A number of other brokerages have also recently issued reports on TIMB. Zacks Research cut shares of TIM from a "strong-buy" rating to a "hold" rating in a report on Friday, May 15th. Weiss Ratings raised TIM from a "hold (c)" rating to a "hold (c+)" rating in a research note on Thursday. Bradesco Corretora cut TIM to a "neutral" rating in a report on Tuesday, April 28th. Barclays dropped 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, Santander upgraded TIM from a "neutral" rating to an "outperform" rating in a research report on Monday, June 22nd. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $25.38.

TIM Price Performance

TIM stock opened at $18.45 on Friday. The company has a market cap of $8.93 billion, a P/E ratio of 10.92, a price-to-earnings-growth ratio of 1.23 and a beta of 0.40. TIM has a one year low of $18.23 and a one year high of $28.22. The business has a fifty day moving average of $21.20 and a two-hundred day moving average of $23.73. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.82 and a current ratio of 0.85.

TIM (NYSE:TIMB - Get Free Report) last posted its quarterly earnings results on Wednesday, June 17th. The company reported $0.42 earnings per share for the quarter. TIM had a net margin of 15.73% and a return on equity of 17.99%. As a group, analysts predict that TIM will post 1.83 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Institutional Investors Weigh In On TIM

Several hedge funds have recently modified their holdings of the company. Royal Bank of Canada lifted its stake in shares of TIM by 1.3% during the first quarter. Royal Bank of Canada now owns 62,008 shares of the company's stock valued at $970,000 after buying an additional 789 shares during the period. Amundi purchased a new stake in TIM in the 1st quarter worth approximately $87,000. Goldman Sachs Group Inc. grew its stake in TIM by 4.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,056,805 shares of the company's stock worth $16,539,000 after acquiring an additional 47,130 shares during the period. Creative Planning raised its holdings in TIM by 9.2% in the 2nd quarter. Creative Planning now owns 21,511 shares of the company's stock valued at $433,000 after acquiring an additional 1,814 shares during the last quarter. Finally, Rhumbline Advisers raised its holdings in TIM by 117.7% in the 2nd quarter. Rhumbline Advisers now owns 10,018 shares of the company's stock valued at $201,000 after acquiring an additional 5,417 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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