TIM (NYSE:TIMB) Rating Increased to Buy at New Street Research

Key Points

• New Street Research upgraded TIM (NYSE:TIMB) from "neutral" to "buy" on Tuesday, and MarketBeat shows a consensus rating of "Moderate Buy" with an average analyst price target of $24.65.
• Shares opened at $26.01 (down about 1.4%), the company has a market cap of $12.59 billion and a P/E of 16.25, and TIM reported quarterly EPS of $0.52 (vs. $0.48 est.) while revenue missed at $1.25B (vs. $1.30B est.).
• Analyst sentiment is mixed: 2 analysts rate TIM a Strong Buy, 3 a Buy, 5 a Hold and 1 a Sell, reflecting varied views despite the recent upgrade.

TIM (NYSE:TIMB - Get Free Report) was upgraded by equities research analysts at New Street Research from a "neutral" rating to a "buy" rating in a report released on Tuesday,Finviz reports.

A number of other brokerages have also issued reports on TIMB. Citigroup lowered shares of TIM from a "buy" rating to a "neutral" rating in a research note on Wednesday, January 21st. Weiss Ratings upgraded shares of TIM from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, March 16th. Bank of America started coverage on shares of TIM in a research note on Thursday, December 11th. They issued an "underperform" rating and a $24.00 price target for the company. Scotiabank lifted their price target on shares of TIM from $23.60 to $29.50 and gave the stock a "sector perform" rating in a research note on Monday, March 30th. Finally, Barclays lifted their price target on shares of TIM from $23.50 to $26.00 and gave the stock an "equal weight" rating in a research note on Monday, March 2nd. Two analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $24.65.

TIM Stock Down 1.4%

Shares of NYSE:TIMB opened at $26.01 on Tuesday. The company has a current ratio of 0.89, a quick ratio of 0.86 and a debt-to-equity ratio of 0.58. The company has a fifty day simple moving average of $25.66 and a 200 day simple moving average of $23.16. The firm has a market cap of $12.59 billion, a PE ratio of 16.25, a price-to-earnings-growth ratio of 0.68 and a beta of 0.48. TIM has a 12-month low of $14.18 and a 12-month high of $27.74.

TIM (NYSE:TIMB - Get Free Report) last issued its quarterly earnings results on Tuesday, February 10th. The company reported $0.52 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.48 by $0.04. The business had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.30 billion. TIM had a net margin of 16.28% and a return on equity of 17.84%. On average, equities research analysts anticipate that TIM will post 1.34 EPS for the current fiscal year.

Hedge Funds Weigh In On TIM

Hedge funds and other institutional investors have recently modified their holdings of the company. Global Retirement Partners LLC boosted its holdings in shares of TIM by 5,590.5% during the third quarter. Global Retirement Partners LLC now owns 1,195 shares of the company's stock valued at $27,000 after acquiring an additional 1,174 shares during the period. Wells Fargo & Company MN boosted its holdings in shares of TIM by 53.8% during the fourth quarter. Wells Fargo & Company MN now owns 1,413 shares of the company's stock valued at $27,000 after acquiring an additional 494 shares during the period. TD Private Client Wealth LLC acquired a new position in shares of TIM during the third quarter valued at $28,000. Kestra Advisory Services LLC acquired a new position in shares of TIM during the fourth quarter valued at $39,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of TIM by 188.1% during the second quarter. EverSource Wealth Advisors LLC now owns 2,060 shares of the company's stock valued at $41,000 after acquiring an additional 1,345 shares during the period.

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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