TIM (NYSE:TIMB) Reaches New 52-Week High - What's Next?

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.

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

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on TIMB. HSBC lowered TIM to a "hold" rating in a report on Friday, June 13th. Hsbc Global Res lowered TIM from a "strong-buy" rating to a "hold" rating in a report on Thursday, June 12th. Citigroup began coverage on TIM in a report on Wednesday, September 10th. They issued a "buy" rating for the company. Scotiabank lifted their price objective on TIM from $19.10 to $23.60 and gave the stock a "sector outperform" rating in a report on Thursday, July 31st. Finally, Barclays lifted their price objective on TIM from $17.50 to $20.00 and gave the stock an "equal weight" rating in a report on Monday, July 7th. Three investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $21.25.

TIM Trading Down 0.7%

The stock has a market cap of $10.44 billion, a P/E ratio of 16.72, a P/E/G ratio of 0.86 and a beta of 0.69. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.88 and a current ratio of 0.91. The stock has a 50-day moving average price of $20.00 and a 200-day moving average price of $17.93.

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

TIM Cuts Dividend

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

Institutional Trading of TIM

Hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC lifted its position in TIM by 3,331.4% in the 1st quarter. GAMMA Investing LLC now owns 47,388 shares of the company's stock worth $742,000 after buying an additional 46,007 shares during the last quarter. Blue Trust Inc. lifted its position in TIM by 26.2% in the 1st quarter. Blue Trust Inc. now owns 7,687 shares of the company's stock worth $120,000 after buying an additional 1,597 shares during the last quarter. Millennium Management LLC lifted its position in TIM by 68.8% in the 4th quarter. Millennium Management LLC now owns 34,106 shares of the company's stock worth $401,000 after buying an additional 13,905 shares during the last quarter. BNP Paribas Financial Markets bought a new stake in TIM in the 4th quarter worth approximately $338,000. Finally, D. E. Shaw & Co. Inc. lifted its position in TIM by 37.0% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 106,903 shares of the company's stock worth $1,257,000 after buying an additional 28,881 shares during the last quarter.

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.