TIM (NYSE:TIMB) Stock Rating Upgraded by Wall Street Zen

Key Points

• TIM (NYSE:TIMB) has received an upgrade from a "buy" rating to a "strong-buy" rating from analysts at Wall Street Zen.
• Goldman Sachs and Scotiabank have adjusted their price targets for TIM to $16.90 and $23.60 respectively, while maintaining neutral and outperform ratings.
• Recently reported earnings for the quarter showed TIM beating analysts' expectations with $0.35 earnings per share, exceeding the consensus estimate of $0.31.

TIM (NYSE:TIMB - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a research report issued on Saturday.

Several other equities research analysts have also recently commented on the stock. The Goldman Sachs Group boosted their price target on shares of TIM from $15.30 to $16.90 and gave the stock a "neutral" rating in a research report on Wednesday, April 30th. Scotiabank upped their target price on TIM from $19.10 to $23.60 and gave the stock a "sector outperform" rating in a report on Thursday. HSBC cut TIM to a "hold" rating in a research report on Friday, June 13th. Barclays boosted their price target on TIM from $17.50 to $20.00 and gave the stock an "equal weight" rating in a research report on Monday, July 7th. Finally, Hsbc Global Res downgraded TIM from a "strong-buy" rating to a "hold" rating in a report on Thursday, June 12th. Five analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $20.17.

TIM Trading Up 2.3%

TIMB opened at $18.80 on Friday. The firm has a 50 day simple moving average of $18.66 and a 200 day simple moving average of $16.29. TIM has a fifty-two week low of $11.32 and a fifty-two week high of $20.78. The company has a market cap of $9.10 billion, a price-to-earnings ratio of 14.57, a price-to-earnings-growth ratio of 0.75 and a beta of 0.60. 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 Wednesday, July 30th. The company reported $0.35 earnings per share for the quarter, topping analysts' consensus estimates of $0.31 by $0.04. The company had revenue of $1.18 billion for the quarter, compared to analysts' expectations of $6.62 billion. TIM had a net margin of 13.91% and a return on equity of 13.88%. On average, sell-side analysts anticipate that TIM will post 1.34 earnings per share for the current year.

Hedge Funds Weigh In On TIM

Several large investors have recently bought and sold shares of the stock. GAMMA Investing LLC raised its position in shares of TIM by 119.3% in 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. Brooklyn Investment Group purchased a new position in TIM in the 1st quarter valued at approximately $50,000. Farther Finance Advisors LLC raised its holdings in TIM by 30,036.4% during the 1st quarter. Farther Finance Advisors LLC now owns 3,315 shares of the company's stock valued at $53,000 after acquiring an additional 3,304 shares during the period. SVB Wealth LLC bought a new stake in TIM during the 1st quarter valued at $64,000. Finally, PNC Financial Services Group Inc. lifted its position in shares of TIM by 29.5% during the first quarter. PNC Financial Services Group Inc. now owns 4,258 shares of the company's stock worth $67,000 after acquiring an additional 969 shares in 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.

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