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

Key Points

• Wall Street Zen upgraded TIM from “hold” to “buy,” while the broader analyst consensus remains “hold” with a $25.38 average price target.
• TIM shares opened at $17.36, near their 12-month low of $17.14 and below both their 50-day ($20.80) and 200-day ($23.56) moving averages.
• The company reported quarterly EPS of $0.42 on $1.35 billion in revenue, while two insiders recently sold shares, reducing their holdings by 18.27% and 29.60%, respectively.

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

Several other equities analysts have also issued reports on the stock. Santander upgraded shares of TIM from a "neutral" rating to an "outperform" rating in a report on Monday, June 22nd. Bradesco Corretora downgraded TIM to a "neutral" rating in a report on Tuesday, April 28th. Scotiabank lifted their price objective on TIM from $27.00 to $28.50 and gave the stock a "sector perform" rating in a research report on Wednesday, May 27th. Weiss Ratings raised TIM from a "hold (c)" rating to a "hold (c+)" rating in a research note on Thursday, August 6th. Finally, Zacks Research lowered TIM from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 15th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $25.38.

TIM Stock Performance

Shares of TIMB stock opened at $17.36 on Friday. The company has a quick ratio of 0.82, a current ratio of 0.85 and a debt-to-equity ratio of 0.55. TIM has a 12 month low of $17.14 and a 12 month high of $28.22. The company's fifty day simple moving average is $20.80 and its 200-day simple moving average is $23.56. The firm has a market cap of $8.41 billion, a PE ratio of 10.27, a P/E/G ratio of 1.15 and a beta of 0.40.

TIM (NYSE:TIMB - Get Free Report) last posted its quarterly earnings data on Wednesday, June 17th. The company reported $0.42 EPS for the quarter. TIM had a net margin of 15.73% and a return on equity of 17.99%. The company had revenue of $1.35 billion for the quarter. Equities research analysts expect that TIM will post 1.83 EPS for the current fiscal year.

Insider Activity at TIM

In other news, insider Auana Mattar Lima sold 8,200 shares of the company's stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $4.42, for a total value of $36,244.00. Following the completion of the transaction, the insider directly owned 36,686 shares of the company's stock, valued at $162,152.12. This represents a 18.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Marques Andrea Palma Viegas sold 35,000 shares of the company's stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $4.32, for a total value of $151,200.00. Following the completion of the transaction, the chief financial officer owned 83,259 shares of the company's stock, valued at $359,678.88. This trade represents a 29.60% decrease in their position. The SEC filing for this sale provides additional information.

Institutional Investors Weigh In On TIM

Several large investors have recently added to or reduced their stakes in the company. Wells Fargo & Company MN increased its stake in shares of TIM by 53.8% in the fourth quarter. Wells Fargo & Company MN now owns 1,413 shares of the company's stock worth $27,000 after purchasing an additional 494 shares in the last quarter. Eastern Bank bought a new position in TIM in the 2nd quarter worth approximately $34,000. Kestra Advisory Services LLC bought a new position in TIM in the 4th quarter worth approximately $39,000. EverSource Wealth Advisors LLC grew its stake in TIM by 188.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,060 shares of the company's stock valued at $41,000 after buying an additional 1,345 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in TIM in the 2nd quarter valued at approximately $42,000.

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. TIM S.A is based in Rio de Janeiro, Brazil. The company operates as a subsidiary of TIM Brasil Serviços e Participações SA

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