TIM (NYSE:TIMB) Upgraded to "Strong-Buy" at 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 analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a research note issued on Saturday.

TIMB has been the subject of several other reports. Hsbc Global Res downgraded shares of TIM from a "strong-buy" rating to a "hold" rating in a research note on Thursday, June 12th. Scotiabank upped their price objective on shares of TIM from $19.10 to $23.60 and gave the company a "sector outperform" rating in a research note on Thursday, July 31st. HSBC downgraded shares of TIM to a "hold" rating in a research note on Friday, June 13th. The Goldman Sachs Group increased their price target on shares of TIM from $15.30 to $16.90 and gave the stock a "neutral" rating in a research note on Wednesday, April 30th. Finally, Barclays increased their price target on shares of TIM from $17.50 to $20.00 and gave the stock an "equal weight" rating in a research note on Monday, July 7th. Five analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $20.17.

TIM Trading Up 1.6%

TIM stock traded up $0.30 during mid-day trading on Friday, hitting $19.54. The company's stock had a trading volume of 124,491 shares, compared to its average volume of 506,887. 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 stock has a market cap of $9.46 billion, a price-to-earnings ratio of 15.15, a price-to-earnings-growth ratio of 0.75 and a beta of 0.60. The business has a 50 day moving average price of $18.70 and a 200-day moving average price of $16.39. TIM has a 12 month low of $11.32 and a 12 month high of $20.78.

TIM (NYSE:TIMB - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.35 EPS for the quarter, beating the consensus estimate 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 net margin of 13.91% and a return on equity of 13.99%. As a group, analysts forecast that TIM will post 1.34 EPS for the current year.

Institutional Investors Weigh In On TIM

Hedge funds and other institutional investors have recently bought and sold shares of the business. Robeco Institutional Asset Management B.V. grew its holdings in shares of TIM by 10.8% during the second quarter. Robeco Institutional Asset Management B.V. now owns 3,482,294 shares of the company's stock valued at $70,029,000 after buying an additional 339,384 shares during the last quarter. Itau Unibanco Holding S.A. raised its position in TIM by 64.9% in the fourth quarter. Itau Unibanco Holding S.A. now owns 1,769,904 shares of the company's stock worth $20,814,000 after acquiring an additional 696,454 shares during the period. Renaissance Technologies LLC raised its position in TIM by 19.7% in the fourth quarter. Renaissance Technologies LLC now owns 1,718,588 shares of the company's stock worth $20,211,000 after acquiring an additional 283,002 shares during the period. Goldman Sachs Group Inc. raised its position in shares of TIM by 4.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,056,805 shares of the company's stock valued at $16,539,000 after purchasing an additional 47,130 shares during the period. Finally, JPMorgan Chase & Co. raised its position in shares of TIM by 2.3% during the 4th quarter. JPMorgan Chase & Co. now owns 829,841 shares of the company's stock valued at $9,759,000 after purchasing an additional 18,970 shares during the period.

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.