TIM (NYSE:TIMB) Sees Strong Trading Volume After Analyst Upgrade

Key Points

• TIM saw strong trading volume after New Street Research upgraded the stock to a buy, with 535,303 shares traded (a 25% increase) and the last trade at $25.85.
• The analyst picture is mixed but MarketBeat shows an average rating of Moderate Buy and an average price target of $24.65, while firms like Scotiabank and Barclays recently raised targets and Citi and BofA were less positive.
• TIM declared a special dividend of $0.1552 per share payable May 7 (ex-dividend and record date March 30), with a dividend payout ratio of roughly 91.9%.

TIM S.A. Sponsored ADR (NYSE:TIMB - Get Free Report) saw strong trading volume on Tuesday after New Street Research upgraded the stock from a neutral rating to a buy rating. 535,303 shares were traded during trading, an increase of 25% from the previous session's volume of 427,302 shares.The stock last traded at $25.8540 and had previously closed at $26.01.

Several other brokerages have also recently issued reports on TIMB. Weiss Ratings upgraded shares of TIM from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, March 16th. Barclays upped their price objective on shares of TIM from $23.50 to $26.00 and gave the stock an "equal weight" rating in a report on Monday, March 2nd. Scotiabank upped their price objective on shares of TIM from $23.60 to $29.50 and gave the stock a "sector perform" rating in a report on Monday, March 30th. Bank of America assumed coverage on shares of TIM in a report on Thursday, December 11th. They issued an "underperform" rating and a $24.00 price objective on the stock. Finally, Citigroup cut shares of TIM from a "buy" rating to a "neutral" rating in a report on Wednesday, January 21st. Two equities research 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 assigned a Sell rating to the company. According to MarketBeat.com, TIM currently has an average rating of "Moderate Buy" and an average price target of $24.65.

Institutional Investors Weigh In On TIM

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. DGS Capital Management LLC grew its holdings in TIM by 5.2% in the fourth quarter. DGS Capital Management LLC now owns 40,166 shares of the company's stock worth $781,000 after purchasing an additional 1,999 shares during the period. Invesco Ltd. purchased a new stake in shares of TIM during the fourth quarter valued at approximately $1,253,000. Vident Advisory LLC grew its holdings in shares of TIM by 3.4% during the fourth quarter. Vident Advisory LLC now owns 65,622 shares of the company's stock valued at $1,276,000 after buying an additional 2,143 shares during the last quarter. NewEdge Advisors LLC grew its holdings in shares of TIM by 5.2% during the fourth quarter. NewEdge Advisors LLC now owns 14,551 shares of the company's stock valued at $283,000 after buying an additional 714 shares during the last quarter. Finally, XTX Topco Ltd grew its holdings in shares of TIM by 4.5% during the fourth quarter. XTX Topco Ltd now owns 31,607 shares of the company's stock valued at $615,000 after buying an additional 1,366 shares during the last quarter.

TIM Trading Down 0.6%

The stock's fifty day moving average price is $25.66 and its 200 day moving average price is $23.16. The company has a quick ratio of 0.86, a current ratio of 0.89 and a debt-to-equity ratio of 0.58. The stock has a market cap of $12.52 billion, a PE ratio of 16.16, a PEG ratio of 0.68 and a beta of 0.48.

TIM (NYSE:TIMB - Get Free Report) last posted its quarterly earnings results on Tuesday, February 10th. The company reported $0.52 EPS for the quarter, beating analysts' consensus estimates of $0.48 by $0.04. TIM had a net margin of 16.28% and a return on equity of 17.84%. The firm had revenue of $1.25 billion for the quarter, compared to analysts' expectations of $1.30 billion. On average, sell-side analysts forecast that TIM S.A. Sponsored ADR will post 1.34 EPS for the current year.

TIM Announces Dividend

The company also recently declared a special dividend, which will be paid on Thursday, May 7th. Stockholders of record on Monday, March 30th will be issued a dividend of $0.1552 per share. The ex-dividend date is Monday, March 30th. TIM's dividend payout ratio is presently 91.88%.

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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