TIM (NYSE:TIMB) Price Target Raised to $23.50

TIM (NYSE:TIMB) had its price target increased by Barclays from $21.00 to $23.50 in a research report report published on Friday,Benzinga reports. Barclays currently has an equal weight rating on the stock.

Several other equities research analysts have also recently weighed in on TIMB. Weiss Ratings reiterated a “hold (c+)” rating on shares of TIM in a research report on Wednesday. Hsbc Global Res upgraded TIM from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 5th. Scotiabank reaffirmed a “sector perform” rating and set a $23.60 price target on shares of TIM in a research report on Wednesday, November 5th. JPMorgan Chase & Co. increased their price target on shares of TIM from $22.00 to $24.50 and gave the stock an “overweight” rating in a research note on Friday, August 8th. Finally, Zacks Research upgraded shares of TIM from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 15th. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $23.10.

TIM Trading Up 1.7%

TIMB opened at $23.30 on Friday. The company has a market cap of $11.28 billion, a P/E ratio of 18.04, a PEG ratio of 0.88 and a beta of 0.62. The company has a current ratio of 0.91, a quick ratio of 0.88 and a debt-to-equity ratio of 0.54. The company’s 50 day moving average is $21.79 and its 200-day moving average is $19.77. TIM has a 1-year low of $11.32 and a 1-year high of $23.69.

TIM (NYSE:TIMB) last issued its quarterly earnings results on Monday, November 3rd. The company reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.10. TIM had a return on equity of 13.99% and a net margin of 13.91%.The firm had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.21 billion. Equities research analysts predict that TIM will post 1.34 earnings per share for the current fiscal year.

TIM Announces Dividend

The business also recently disclosed a special dividend, which will be paid on Wednesday, January 28th. Investors of record on Friday, October 3rd will be paid a dividend of $0.1888 per share. The ex-dividend date is Friday, October 3rd. TIM’s payout ratio is 65.07%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Global Retirement Partners LLC increased its stake in TIM by 5,590.5% during the third quarter. Global Retirement Partners LLC now owns 1,195 shares of the company’s stock worth $27,000 after acquiring an additional 1,174 shares during the last quarter. TD Private Client Wealth LLC bought a new stake in TIM during the 3rd quarter valued at $28,000. EverSource Wealth Advisors LLC increased its position in TIM by 188.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,060 shares of the company’s stock valued at $41,000 after purchasing an additional 1,345 shares during the period. Hantz Financial Services Inc. boosted its position in TIM by 303.1% during the second quarter. Hantz Financial Services Inc. now owns 2,064 shares of the company’s stock valued at $42,000 after purchasing an additional 1,552 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of TIM during the 2nd quarter valued at $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.