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

Key Points

• TIM shares hit a new 52-week low, falling to $18.89 and last trading at $19.05, down 1.8% from the previous close.
• Analyst sentiment remains mixed but leans toward caution: TIM has a consensus rating of “Hold” and an average price target of $25.23.
• The company reported quarterly EPS of $0.42, announced a special dividend of $0.1618 per share, and disclosed stock sales by two insiders.

TIM S.A. Sponsored ADR (NYSE:TIMB - Get Free Report)'s share price reached a new 52-week low on Monday . The stock traded as low as $18.89 and last traded at $19.05, with a volume of 23492 shares changing hands. The stock had previously closed at $19.17.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Scotiabank raised their price objective on shares of TIM from $27.00 to $28.50 and gave the stock a "sector perform" rating in a research report on Wednesday, May 27th. The Goldman Sachs Group initiated coverage on TIM in a research report on Monday, May 18th. They issued a "neutral" rating and a $23.40 target price on the stock. Zacks Research lowered TIM from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 15th. New Street Research raised TIM from a "neutral" rating to a "buy" rating in a report on Tuesday, April 7th. Finally, Bradesco Corretora downgraded TIM to a "neutral" rating in a research note on Tuesday, April 28th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $25.23.

TIM Trading Down 1.8%

The business has a 50-day moving average price of $21.58 and a two-hundred day moving average price of $23.84. The stock has a market capitalization of $9.12 billion, a P/E ratio of 11.12, a P/E/G ratio of 0.97 and a beta of 0.38. The company has a current ratio of 0.85, a quick ratio of 0.82 and a debt-to-equity ratio of 0.55.

TIM (NYSE:TIMB - Get Free Report) last issued its quarterly earnings results on Wednesday, June 17th. The company reported $0.42 EPS for the quarter. TIM had a return on equity of 17.99% and a net margin of 15.73%. On average, analysts expect that TIM S.A. Sponsored ADR will post 1.85 EPS for the current fiscal year.

TIM Dividend Announcement

The company also recently announced a special dividend, which was paid on Wednesday, July 29th. Shareholders of record on Monday, June 29th were issued a $0.1618 dividend. The ex-dividend date of this dividend was Monday, June 29th. TIM's dividend payout ratio (DPR) is currently 66.86%.

Insider Activity

In other news, CFO Marques Andrea Palma Viegas sold 35,000 shares of the company's stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $4.32, for a total transaction of $151,200.00. Following the completion of the sale, the chief financial officer owned 83,259 shares of the company's stock, valued at approximately $359,678.88. This represents a 29.60% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible 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 transaction of $36,244.00. Following the sale, the insider owned 36,686 shares in the company, valued at $162,152.12. This represents a 18.27% decrease in their position. The disclosure for this sale is available in the SEC filing.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Eastern Bank acquired a new stake in shares of TIM in the 2nd quarter valued at $34,000. NewEdge Advisors LLC increased its stake in shares of TIM by 47.8% in the 1st quarter. NewEdge Advisors LLC now owns 21,510 shares of the company's stock valued at $570,000 after purchasing an additional 6,959 shares during the last quarter. Bank of America Corp DE raised its holdings in shares of TIM by 199.8% during the 1st quarter. Bank of America Corp DE now owns 251,330 shares of the company's stock worth $6,658,000 after buying an additional 167,504 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of TIM by 73.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 4,544 shares of the company's stock worth $120,000 after buying an additional 1,925 shares in the last quarter. Finally, Quantinno Capital Management LP lifted its position in shares of TIM by 1.6% during the 1st quarter. Quantinno Capital Management LP now owns 80,757 shares of the company's stock worth $2,139,000 after buying an additional 1,267 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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