Bank of America Begins Coverage on TIM (NYSE:TIMB)

Research analysts at Bank of America initiated coverage on shares of TIM (NYSE:TIMB) in a research report issued to clients and investors on Thursday. The firm set an “underperform” rating and a $24.00 price target on the stock. Bank of America‘s price objective suggests a potential upside of 11.34% from the stock’s previous close.

A number of other research firms have also issued reports on TIMB. Barclays increased their target price on TIM from $21.00 to $23.50 and gave the company an “equal weight” rating in a report on Friday, November 7th. Jefferies Financial Group downgraded TIM from a “buy” rating to a “hold” rating in a research note on Wednesday, November 19th. Zacks Research raised TIM from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 15th. Hsbc Global Res upgraded TIM from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 5th. Finally, Citigroup began coverage on shares of TIM in a research report on Wednesday, September 10th. They issued a “buy” rating for the company. Two analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $23.25.

TIM Stock Performance

Shares of TIMB opened at $21.56 on Thursday. The company has a 50-day moving average of $22.39 and a two-hundred day moving average of $20.71. The stock has a market cap of $10.44 billion, a price-to-earnings ratio of 14.76, a PEG ratio of 0.76 and a beta of 0.51. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.96 and a quick ratio of 0.94. TIM has a one year low of $11.32 and a one year high of $23.88.

TIM (NYSE:TIMB) last issued its quarterly earnings results on Monday, November 3rd. The company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.36 by $0.10. TIM had a net margin of 15.35% and a return on equity of 15.72%. The business had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.21 billion. On average, equities research analysts expect that TIM will post 1.34 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in TIMB. Ritholtz Wealth Management boosted its stake in TIM by 0.3% during the third quarter. Ritholtz Wealth Management now owns 150,793 shares of the company’s stock worth $3,366,000 after buying an additional 441 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of TIM by 7.8% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,658 shares of the company’s stock worth $174,000 after acquiring an additional 623 shares during the period. Kathmere Capital Management LLC boosted its position in shares of TIM by 4.4% during the 3rd quarter. Kathmere Capital Management LLC now owns 14,761 shares of the company’s stock valued at $329,000 after acquiring an additional 627 shares in the last quarter. Farther Finance Advisors LLC increased its stake in TIM by 19.3% in the second quarter. Farther Finance Advisors LLC now owns 3,956 shares of the company’s stock valued at $80,000 after acquiring an additional 641 shares during the period. Finally, Royal Bank of Canada increased its stake in TIM by 1.3% in the first quarter. Royal Bank of Canada now owns 62,008 shares of the company’s stock valued at $970,000 after acquiring an additional 789 shares during the period.

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.