TIM Participacoes S.A. (TSU) Cut to “Hold” at Zacks Investment Research
TIM Participacoes S.A. (NYSE:TSU) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.
According to Zacks, “TIM PARTICIPAÇÕES S.A. is a holding company, the single company in Brazil to offer mobile cellular service throughout the Brazilian territory, by means of its subsidiaries TIM Celular S.A. and TIM Nordeste S.A. The company is the largest GSM (Global System for Mobile communications) operator of the country, in terms of clients and revenues and TIM Participações ended the 3Q08 with 35.2 million clients and a market share of 25%. “
TSU has been the subject of a number of other research reports. Royal Bank Of Canada reiterated a “hold” rating and set a $16.00 target price on shares of TIM Participacoes in a research report on Wednesday, May 3rd. Barclays PLC lifted their target price on shares of TIM Participacoes from $17.00 to $18.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 2nd. J P Morgan Chase & Co raised shares of TIM Participacoes from a “neutral” rating to an “overweight” rating in a research report on Thursday, May 25th. Finally, BidaskClub raised shares of TIM Participacoes from a “hold” rating to a “buy” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $17.35.
TIM Participacoes (NYSE TSU) opened at 14.73 on Thursday. The company has a market capitalization of $7.13 billion, a PE ratio of 31.01 and a beta of 1.54. TIM Participacoes has a one year low of $9.18 and a one year high of $16.81. The stock’s 50 day moving average is $15.13 and its 200 day moving average is $14.76.
The business also recently disclosed an annual dividend, which was paid on Monday, June 26th. Investors of record on Monday, April 24th were paid a dividend of $0.079 per share. The ex-dividend date was Thursday, April 20th. This represents a dividend yield of 0.62%. TIM Participacoes’s payout ratio is 14.89%.
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Hedge funds have recently modified their holdings of the company. Credit Suisse AG increased its position in shares of TIM Participacoes by 101.8% in the first quarter. Credit Suisse AG now owns 8,438,870 shares of the Wireless communications provider’s stock valued at $134,852,000 after buying an additional 4,257,537 shares in the last quarter. Axiom International Investors LLC DE bought a new position in TIM Participacoes during the first quarter worth $53,256,000. Morgan Stanley raised its position in TIM Participacoes by 365.5% in the first quarter. Morgan Stanley now owns 2,046,700 shares of the Wireless communications provider’s stock worth $32,706,000 after buying an additional 1,607,060 shares during the last quarter. Acadian Asset Management LLC raised its position in TIM Participacoes by 10,668.2% in the first quarter. Acadian Asset Management LLC now owns 2,008,162 shares of the Wireless communications provider’s stock worth $32,090,000 after buying an additional 1,989,513 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in TIM Participacoes by 5.0% in the first quarter. Vanguard Group Inc. now owns 1,877,902 shares of the Wireless communications provider’s stock worth $30,009,000 after buying an additional 89,491 shares during the last quarter. 19.29% of the stock is currently owned by institutional investors and hedge funds.
About TIM Participacoes
TIM Participacoes SA (TIM) is a provider of mobile telecommunication services in Brazil. The Company, through its subsidiaries in various telecommunications markets, operates mobile, fixed and long distance telephony, data transmission and ultra-broadband services. Its direct subsidiaries include TIM Celular SA, which provides landline telephone services (commuted fixed telephonic service (STFC))-domestic long distance and international long distance voice services, personal mobile service (SMP) and multimedia communication service (multimedia service of communication (SCM)) in all Brazilian states and in the Federal District, and Intelig Telecomunicacoes Ltda., which provides STFC-local voices services and SCM services in all Brazilian states and in the Federal District.
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