TIM (NYSE:TIMB) Hits New 52-Week Low - Here's What Happened

Key Points

• TIM’s stock hit a new 52-week low, trading as low as $18.20 and last changing hands at $18.14, down 2.2% on the session.
• Analyst sentiment remains mixed: Santander upgraded TIM to “outperform,” while Zacks Research and Bradesco Corretora downgraded it. The stock has an overall “Hold” rating and a consensus price target of $25.38.
• TIM reported quarterly EPS of $0.42 on revenue of $1.35 billion and paid a special dividend of $0.1618 per share; two insiders also recently reduced their holdings through stock sales.

TIM S.A. Sponsored ADR (NYSE:TIMB - Get Free Report)'s stock price hit a new 52-week low during trading on Tuesday . The stock traded as low as $18.20 and last traded at $18.1370, with a volume of 75821 shares. The stock had previously closed at $18.39.

Analyst Ratings Changes

A number of research firms recently weighed in on TIMB. Santander raised shares of TIM from a "neutral" rating to an "outperform" rating in a research note on Monday, June 22nd. Weiss Ratings raised shares of TIM from a "hold (c)" rating to a "hold (c+)" rating in a report on Thursday. Scotiabank lifted their target price on shares of TIM from $27.00 to $28.50 and gave the stock a "sector perform" rating in a report on Wednesday, May 27th. Zacks Research downgraded TIM from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 15th. Finally, Bradesco Corretora downgraded TIM to a "neutral" rating in a research note on Tuesday, April 28th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $25.38.

TIM Trading Down 2.2%

The company has a market capitalization of $8.71 billion, a P/E ratio of 10.65, a PEG ratio of 1.22 and a beta of 0.40. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.85 and a quick ratio of 0.82. The business's 50-day moving average price is $21.13 and its two-hundred day moving average price is $23.71.

TIM (NYSE:TIMB - Get Free Report) last issued its quarterly earnings data on Wednesday, June 17th. The company reported $0.42 EPS for the quarter. The business had revenue of $1.35 billion for the quarter. TIM had a return on equity of 17.99% and a net margin of 15.73%. As a group, analysts forecast that TIM S.A. Sponsored ADR will post 1.83 EPS for the current fiscal year.

TIM Dividend Announcement

The firm also recently declared a special dividend, which was paid on Wednesday, July 29th. Stockholders of record on Monday, June 29th were given a dividend of $0.1618 per share. The ex-dividend date of this dividend was Monday, June 29th. TIM's dividend payout ratio (DPR) is currently 61.54%.

Insider Activity

In related news, CFO Marques Andrea Palma Viegas sold 35,000 shares of the business's stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $4.32, for a total value of $151,200.00. Following the completion of the transaction, the chief financial officer directly owned 83,259 shares in the company, valued at approximately $359,678.88. The trade was a 29.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Auana Mattar Lima sold 8,200 shares of the stock in a transaction that occurred on 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 directly owned 36,686 shares of the company's stock, valued at approximately $162,152.12. The trade was a 18.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information.

Institutional Investors Weigh In On TIM

Several institutional investors have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN raised its stake in shares of TIM by 53.8% in the 4th quarter. Wells Fargo & Company MN now owns 1,413 shares of the company's stock valued at $27,000 after purchasing an additional 494 shares during the period. Eastern Bank acquired a new position in shares of TIM during the second quarter worth about $34,000. Kestra Advisory Services LLC acquired a new stake in TIM in the 4th quarter valued at approximately $39,000. EverSource Wealth Advisors LLC raised its position in TIM by 188.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,060 shares of the company's stock valued at $41,000 after buying an additional 1,345 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in TIM in the 2nd quarter valued at approximately $42,000.

TIM Company Profile

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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