TIM (NYSE:TIMB) Rating Lowered to "Buy" at Wall Street Zen

Key Points

• Wall Street Zen downgraded TIM (NYSE:TIMB) from a "strong-buy" rating to a "buy" rating, reflecting a shift in analyst sentiment towards the stock.
• Despite the downgrade, analysts maintain an average target price of $21.25 for TIM, indicating mixed opinions with some analysts issuing hold ratings.
• Recent performance shows TIM stock opened at $21.28 with a market capitalization of $10.30 billion, and it recently reported an EPS of $0.35, above the consensus estimate.

Wall Street Zen downgraded shares of TIM (NYSE:TIMB - Free Report) from a strong-buy rating to a buy rating in a report published on Friday morning.

A number of other analysts have also recently commented on TIMB. Barclays upped their price objective on TIM from $17.50 to $20.00 and gave the company an "equal weight" rating in a research report on Monday, July 7th. Scotiabank upped their price objective on TIM from $19.10 to $23.60 and gave the company a "sector outperform" rating in a research report on Thursday, July 31st. Hsbc Global Res cut TIM from a "strong-buy" rating to a "hold" rating in a research report on Thursday, June 12th. JPMorgan Chase & Co. upped their price objective on TIM from $22.00 to $24.50 and gave the company an "overweight" rating in a research report on Friday, August 8th. Finally, HSBC cut TIM to a "hold" rating in a research report on Friday, June 13th. Three analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, TIM currently has a consensus rating of "Hold" and an average target price of $21.25.

TIM Stock Up 0.7%

Shares of TIMB stock traded up $0.14 during mid-day trading on Friday, hitting $20.89. The company's stock had a trading volume of 389,238 shares, compared to its average volume of 513,723. TIM has a 52-week low of $11.32 and a 52-week high of $21.57. The business has a 50-day moving average price of $19.85 and a 200 day moving average price of $17.68. 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 market cap of $10.11 billion, a price-to-earnings ratio of 16.19, a PEG ratio of 0.82 and a beta of 0.69.

TIM (NYSE:TIMB - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.04. TIM had a return on equity of 13.99% and a net margin of 13.91%.The firm had revenue of $1.18 billion during the quarter, compared to analysts' expectations of $6.62 billion. Research analysts predict that TIM will post 1.34 EPS for the current fiscal year.

TIM Cuts Dividend

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

Institutional Trading of TIM

Several hedge funds have recently bought and sold shares of TIMB. EverSource Wealth Advisors LLC grew its holdings in TIM by 188.1% during the second quarter. EverSource Wealth Advisors LLC now owns 2,060 shares of the company's stock valued at $41,000 after purchasing an additional 1,345 shares during the period. Hantz Financial Services Inc. grew its holdings in TIM by 303.1% during the second quarter. Hantz Financial Services Inc. now owns 2,064 shares of the company's stock valued at $42,000 after purchasing an additional 1,552 shares during the period. Raymond James Financial Inc. bought a new stake in TIM during the second quarter valued at about $42,000. GAMMA Investing LLC grew its holdings in TIM by 119.3% during the first quarter. GAMMA Investing LLC now owns 3,028 shares of the company's stock valued at $47,000 after purchasing an additional 1,647 shares during the period. Finally, Brooklyn Investment Group bought a new stake in TIM during the first quarter valued at about $50,000.

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.