TIM (NYSE:TIMB) Sets New 52-Week High - Here's What Happened

Shares of TIM S.A. Sponsored ADR (NYSE:TIMB - Get Free Report) hit a new 52-week high on Wednesday . The stock traded as high as $20.29 and last traded at $20.25, with a volume of 386660 shares changing hands. The stock had previously closed at $20.11.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Wall Street Zen lowered shares of TIM from a "strong-buy" rating to a "buy" rating in a report on Sunday, June 15th. Hsbc Global Res lowered shares of TIM from a "strong-buy" rating to a "hold" rating in a report on Thursday, June 12th. The Goldman Sachs Group boosted their price objective on shares of TIM from $15.30 to $16.90 and gave the company a "neutral" rating in a report on Wednesday, April 30th. HSBC lowered shares of TIM to a "hold" rating in a report on Friday, June 13th. Finally, Barclays set a $17.50 price objective on shares of TIM in a report on Wednesday, May 7th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, TIM presently has a consensus rating of "Hold" and an average price target of $17.33.

TIM Trading Up 2.3%

The firm has a market cap of $9.99 billion, a PE ratio of 16.50, a PEG ratio of 0.94 and a beta of 0.64. The business has a 50-day moving average price of $18.04 and a two-hundred day moving average price of $15.38. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.88 and a quick ratio of 0.86.

TIM (NYSE:TIMB - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The company reported $0.28 earnings per share for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $6.38 billion. Analysts forecast that TIM S.A. Sponsored ADR will post 1.34 EPS for the current year.

TIM Dividend Announcement

The business also recently disclosed an annual dividend, which will be paid on Wednesday, July 30th. Investors of record on Friday, May 23rd will be given a dividend of $0.1086 per share. This represents a yield of 7.6%. The ex-dividend date is Friday, May 23rd. TIM's dividend payout ratio is presently 61.60%.

Institutional Trading of TIM

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC boosted its stake in TIM by 119.3% in the 1st quarter. GAMMA Investing LLC now owns 3,028 shares of the company's stock worth $47,000 after buying an additional 1,647 shares during the last quarter. Brooklyn Investment Group acquired a new stake in TIM in the 1st quarter worth about $50,000. Farther Finance Advisors LLC boosted its stake in TIM by 30,036.4% in the 1st quarter. Farther Finance Advisors LLC now owns 3,315 shares of the company's stock worth $53,000 after buying an additional 3,304 shares during the last quarter. SVB Wealth LLC acquired a new stake in TIM in the 1st quarter worth about $64,000. Finally, PNC Financial Services Group Inc. boosted its stake in TIM by 29.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 4,258 shares of the company's stock worth $67,000 after buying an additional 969 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.