TIM S.A. Sponsored ADR (NYSE:TIMB – Get Free Report) saw unusually-strong trading volume on Wednesday . Approximately 428,699 shares changed hands during trading, a decline of 2% from the previous session’s volume of 437,703 shares.The stock last traded at $18.8110 and had previously closed at $18.73.
Analysts Set New Price Targets
Several brokerages recently commented on TIMB. Morgan Stanley reissued a “market perform” rating and issued a $22.00 price target on shares of TIM in a research note on Thursday, August 20th. Wall Street Zen lowered shares of TIM from a “buy” rating to a “hold” rating in a research report on Saturday, August 29th. Barclays reduced their target price on shares of TIM from $28.00 to $24.00 and set an “equal weight” rating for the company in a research note on Friday, July 10th. Scotiabank raised their price target on shares of TIM from $27.00 to $28.50 and gave the company a “sector perform” rating in a report on Wednesday, May 27th. Finally, The Goldman Sachs Group started coverage on shares of TIM in a research note on Monday, May 18th. They issued a “neutral” rating and a $23.40 price objective for the company. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, TIM currently has a consensus rating of “Hold” and an average price target of $24.82.
Get Our Latest Stock Analysis on TIMB
TIM Stock Performance
TIM (NYSE:TIMB – Get Free Report) last posted its earnings results on Wednesday, June 17th. The company reported $0.42 earnings per share for the quarter. TIM had a return on equity of 17.99% and a net margin of 15.73%.The firm had revenue of $1.35 billion during the quarter. As a group, analysts predict that TIM S.A. Sponsored ADR will post 1.82 earnings per share for the current year.
TIM Announces Dividend
The company also recently disclosed a special dividend, which was paid on Wednesday, July 29th. Stockholders of record on Monday, June 29th were paid a $0.1618 dividend. The ex-dividend date was Monday, June 29th. TIM’s payout ratio is presently 60.95%.
Insider Transactions at TIM
In related news, CFO Marques Andrea Palma Viegas sold 35,000 shares of TIM 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 transaction, the chief financial officer owned 83,259 shares in the company, valued at $359,678.88. This trade represents a 29.60% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.
Institutional Investors Weigh In On TIM
Hedge funds and other institutional investors have recently made changes to their positions in the business. Ameritas Advisory Services LLC bought a new position in shares of TIM in the second quarter worth about $25,000. Wells Fargo & Company MN boosted its stake in TIM by 53.8% during the 4th quarter. Wells Fargo & Company MN now owns 1,413 shares of the company’s stock valued at $27,000 after purchasing an additional 494 shares during the period. Eastern Bank acquired a new stake in TIM in the 2nd quarter valued at approximately $34,000. Kestra Advisory Services LLC acquired a new stake in TIM in the 4th quarter valued at approximately $39,000. Finally, EverSource Wealth Advisors LLC increased its position in TIM by 188.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,060 shares of the company’s stock worth $41,000 after buying an additional 1,345 shares during the period.
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. 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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