TIM (NYSE:TIMB) Reaches New 1-Year High - Here's What Happened

Key Points

• TIM S.A. Sponsored ADR reached a new 52-week high of $21.63, with considerable trading volume of 39,848 shares.
• Analysts have mixed sentiments, with three giving a "Buy" rating while five issued a "Hold" rating, resulting in a consensus target price of $21.25.
• The company reported a special dividend of $0.1189 per share, representing a substantial yield of 720.0%, which will be paid on October 28th.

TIM S.A. Sponsored ADR (NYSE:TIMB - Get Free Report)'s share price reached a new 52-week high on Wednesday . The company traded as high as $21.63 and last traded at $21.63, with a volume of 39848 shares changing hands. The stock had previously closed at $21.49.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Hsbc Global Res downgraded shares of TIM from a "strong-buy" rating to a "hold" rating in a report on Thursday, June 12th. JPMorgan Chase & Co. boosted their price objective on shares of TIM from $22.00 to $24.50 and gave the stock an "overweight" rating in a report on Friday, August 8th. Barclays lifted their target price on shares of TIM from $17.50 to $20.00 and gave the company an "equal weight" rating in a research report on Monday, July 7th. HSBC lowered shares of TIM to a "hold" rating in a research report on Friday, June 13th. Finally, Wall Street Zen upgraded shares of TIM from a "buy" rating to a "strong-buy" rating in a research report on Saturday. Three analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, TIM has a consensus rating of "Hold" and a consensus target price of $21.25.

TIM Stock Performance

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 has a market capitalization of $10.51 billion, a P/E ratio of 16.83, a P/E/G ratio of 0.86 and a beta of 0.69. The stock's 50 day moving average is $20.06 and its two-hundred day moving average is $18.01.

TIM (NYSE:TIMB - Get Free Report) last issued its 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 firm had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $6.62 billion. As a group, equities analysts anticipate that TIM S.A. Sponsored ADR will post 1.34 earnings per share for the current fiscal year.

TIM Cuts Dividend

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

Institutional Investors Weigh In On TIM

Several large investors have recently bought and sold shares of the company. Osaic Holdings Inc. increased its stake in TIM by 1,541.2% in the second quarter. Osaic Holdings Inc. now owns 14,902 shares of the company's stock valued at $300,000 after purchasing an additional 13,994 shares in the last quarter. Vident Advisory LLC boosted its holdings in shares of TIM by 9.9% in the second quarter. Vident Advisory LLC now owns 48,333 shares of the company's stock valued at $972,000 after buying an additional 4,339 shares during the period. Raymond James Financial Inc. acquired a new position in shares of TIM in the second quarter valued at approximately $42,000. Quantinno Capital Management LP boosted its holdings in shares of TIM by 10.1% in the second quarter. Quantinno Capital Management LP now owns 56,685 shares of the company's stock valued at $1,140,000 after buying an additional 5,208 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new position in shares of TIM in the second quarter valued at approximately $85,000.

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.