TIM (NYSE:TIMB) Hits New 52-Week High After Analyst Upgrade

Key Points

• TIM S.A. shares hit a new 52-week high following an upgrade by JPMorgan Chase & Co., which raised their price target from $22.00 to $24.50 while maintaining an "overweight" rating.
• The company reported $0.35 earnings per share for the last quarter, surpassing analysts' expectations of $0.31.
• TIM recently announced a dividend cut, declaring a $0.1189 dividend, with a payout ratio of 67.44% and a yield of 720.0% due to adjustments in financial strategy.

TIM S.A. Sponsored ADR (NYSE:TIMB - Get Free Report) reached a new 52-week high during trading on Monday after JPMorgan Chase & Co. raised their price target on the stock from $22.00 to $24.50. JPMorgan Chase & Co. currently has an overweight rating on the stock. TIM traded as high as $20.90 and last traded at $20.92, with a volume of 45005 shares trading hands. The stock had previously closed at $20.61.

A number of other equities research analysts also recently commented on the company. HSBC downgraded TIM to a "hold" rating in a research report on Friday, June 13th. Scotiabank lifted their price target on TIM from $19.10 to $23.60 and gave the stock a "sector outperform" rating in a research report on Thursday, July 31st. Hsbc Global Res lowered TIM from a "strong-buy" rating to a "hold" rating in a research note on Thursday, June 12th. 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. Finally, Barclays upped their price target on TIM from $17.50 to $20.00 and gave the stock an "equal weight" rating in a research note on Monday, July 7th. Five research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $21.25.

Institutional Investors Weigh In On TIM

A number of institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC raised its stake in TIM by 3,331.4% during the first quarter. GAMMA Investing LLC now owns 47,388 shares of the company's stock worth $742,000 after acquiring an additional 46,007 shares during the period. Blue Trust Inc. boosted its holdings in shares of TIM by 26.2% in the first quarter. Blue Trust Inc. now owns 7,687 shares of the company's stock valued at $120,000 after acquiring an additional 1,597 shares in the last quarter. Cerity Partners LLC bought a new position in shares of TIM in the fourth quarter valued at approximately $330,000. BNP Paribas Financial Markets bought a new position in shares of TIM in the fourth quarter valued at approximately $338,000. Finally, Millennium Management LLC boosted its holdings in shares of TIM by 68.8% in the fourth quarter. Millennium Management LLC now owns 34,106 shares of the company's stock valued at $401,000 after acquiring an additional 13,905 shares in the last quarter.

TIM Stock Up 1.2%

The firm has a market capitalization of $10.06 billion, a P/E ratio of 16.11, a PEG ratio of 0.81 and a beta of 0.60. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.91 and a quick ratio of 0.88. The firm's fifty day moving average price is $19.22 and its 200-day moving average price is $16.81.

TIM (NYSE:TIMB - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.31 by $0.04. TIM had a net margin of 13.91% and a return on equity of 13.99%. The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $6.62 billion. As a group, equities research analysts forecast that TIM S.A. Sponsored ADR will post 1.34 earnings per share for the current year.

TIM Cuts Dividend

The company also recently announced a -- dividend, which will be paid on Tuesday, October 28th. Investors of record on Monday, August 4th will be paid a $0.1189 dividend. The ex-dividend date is Monday, August 4th. This represents a yield of 720.0%. TIM's dividend payout ratio (DPR) is presently 67.44%.

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.