TIM (NYSE:TIMB) Price Target Raised to $23.60

Key Points

• Scotiabank has raised its price target for TIM (NYSE:TIMB) from $19.10 to $23.60, indicating a potential upside of 27.09% from its previous close.
• The company has a current market capitalization of $8.99 billion and reported a quarterly earnings per share of $0.28, surpassing analyst expectations.
• While multiple brokerages have updated their ratings, the consensus rating for TIM remains "Hold" with an average target price of $20.17.

TIM (NYSE:TIMB - Get Free Report) had its target price increased by equities researchers at Scotiabank from $19.10 to $23.60 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a "sector outperform" rating on the stock. Scotiabank's target price would suggest a potential upside of 27.09% from the stock's previous close.

Other equities research analysts have also recently issued research reports about the stock. Barclays boosted their price target on shares of TIM from $17.50 to $20.00 and gave the stock an "equal weight" rating in a research report on Monday, July 7th. The Goldman Sachs Group boosted their price objective on TIM from $15.30 to $16.90 and gave the stock a "neutral" rating in a research note on Wednesday, April 30th. Hsbc Global Res downgraded TIM from a "strong-buy" rating to a "hold" rating in a research report on Thursday, June 12th. Wall Street Zen lowered TIM from a "strong-buy" rating to a "buy" rating in a report on Sunday, June 15th. Finally, HSBC lowered shares of TIM to a "hold" rating in a research note on Friday, June 13th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $20.17.

TIM Stock Performance

NYSE TIMB traded up $0.56 on Thursday, hitting $18.57. 190,486 shares of the company traded hands, compared to its average volume of 511,324. The business's 50 day moving average price is $18.59 and its 200-day moving average price is $16.19. TIM has a 52-week low of $11.32 and a 52-week high of $20.78. The company has a current ratio of 0.88, a quick ratio of 0.86 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $8.99 billion, a price-to-earnings ratio of 14.86, a P/E/G ratio of 0.73 and a beta of 0.64.

TIM (NYSE:TIMB - Get Free Report) last posted its quarterly earnings results on Monday, May 5th. The company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.03. TIM had a return on equity of 13.17% and a net margin of 13.30%. The business had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $6.38 billion. Equities analysts expect that TIM will post 1.34 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of TIMB. GAMMA Investing LLC increased its holdings in TIM by 119.3% during the first quarter. GAMMA Investing LLC now owns 3,028 shares of the company's stock valued at $47,000 after buying an additional 1,647 shares during the period. Brooklyn Investment Group purchased a new position in shares of TIM in the 1st quarter valued at $50,000. Farther Finance Advisors LLC increased its holdings in shares of TIM by 30,036.4% in the 1st quarter. Farther Finance Advisors LLC now owns 3,315 shares of the company's stock valued at $53,000 after acquiring an additional 3,304 shares during the period. Point72 Hong Kong Ltd bought a new position in shares of TIM in the 4th quarter worth $54,000. Finally, SVB Wealth LLC purchased a new stake in shares of TIM during the 1st quarter worth $64,000.

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.

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