TIM (NYSE:TIMB) Stock Rating Upgraded by Zacks Research

Key Points

• Analysts at Zacks Research upgraded TIM (NYSE:TIMB) from a "hold" rating to a "strong-buy" rating, indicating increased confidence in the stock's performance.
• Barclays and Scotiabank both raised their target prices for TIM, with Scotiabank increasing it from $19.10 to $23.60, reflecting growing optimism among market analysts.
• The stock's current market capitalization is $10.36 billion, with a 52-week range of $11.32 to $22.47, highlighting its significant growth potential.

TIM (NYSE:TIMB - Get Free Report) was upgraded by analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a research note issued to investors on Wednesday,Zacks.com reports.

A number of other equities analysts have also recently issued reports on TIMB. Barclays lifted their target price on TIM from $20.00 to $21.00 and gave the stock an "equal weight" rating in a report on Monday, October 6th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of TIM in a research report on Tuesday. Citigroup started coverage on TIM in a research report on Wednesday, September 10th. They issued a "buy" rating for the company. Scotiabank raised their target price on TIM from $19.10 to $23.60 and gave the stock a "sector outperform" rating in a research report on Thursday, July 31st. Finally, JPMorgan Chase & Co. raised their target price on TIM from $22.00 to $24.50 and gave the stock an "overweight" rating in a research report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $21.50.

TIM Stock Performance

Shares of NYSE TIMB opened at $21.40 on Wednesday. The company has a quick ratio of 0.88, a current ratio of 0.91 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $10.36 billion, a price-to-earnings ratio of 16.59, a PEG ratio of 0.80 and a beta of 0.65. The stock's fifty day simple moving average is $21.19 and its 200 day simple moving average is $18.86. TIM has a 52-week low of $11.32 and a 52-week high of $22.47.

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

Institutional Trading of TIM

Institutional investors have recently bought and sold shares of the company. Robeco Institutional Asset Management B.V. lifted its position in shares of TIM by 10.8% in the second quarter. Robeco Institutional Asset Management B.V. now owns 3,482,294 shares of the company's stock worth $70,029,000 after buying an additional 339,384 shares during the last quarter. Banco BTG Pactual S.A. lifted its position in shares of TIM by 1,302.9% in the first quarter. Banco BTG Pactual S.A. now owns 260,933 shares of the company's stock worth $4,084,000 after buying an additional 242,333 shares during the last quarter. Altman Advisors Inc. acquired a new stake in shares of TIM in the first quarter worth about $1,979,000. American Century Companies Inc. lifted its position in shares of TIM by 26.4% in the second quarter. American Century Companies Inc. now owns 445,578 shares of the company's stock worth $8,961,000 after buying an additional 93,179 shares during the last quarter. Finally, Crossmark Global Holdings Inc. lifted its position in shares of TIM by 10.2% in the first quarter. Crossmark Global Holdings Inc. now owns 624,359 shares of the company's stock worth $9,771,000 after buying an additional 57,562 shares during 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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