TIM (NYSE:TIMB) Shares Gap Up on Better-Than-Expected Earnings

TIM S.A. Sponsored ADR (NYSE:TIMB)’s stock price gapped up prior to trading on Wednesday following a stronger than expected earnings report. The stock had previously closed at $25.22, but opened at $27.00. TIM shares last traded at $27.3160, with a volume of 102,262 shares changing hands.

The company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.04. The business had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.30 billion. TIM had a net margin of 16.28% and a return on equity of 17.72%.

TIM Dividend Announcement

The business also recently disclosed a special dividend, which was paid on Wednesday, January 7th. Shareholders of record on Monday, December 29th were paid a dividend of $0.6784 per share. The ex-dividend date was Monday, December 29th. TIM’s payout ratio is currently 88.13%.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. HSBC upgraded TIM from a “hold” rating to a “buy” rating and raised their target price for the company from $21.00 to $27.00 in a report on Wednesday, November 5th. Bank of America initiated coverage on shares of TIM in a research note on Thursday, December 11th. They set an “underperform” rating and a $24.00 price objective on the stock. Barclays upped their target price on shares of TIM from $21.00 to $23.50 and gave the company an “equal weight” rating in a research note on Friday, November 7th. Citigroup downgraded shares of TIM from a “buy” rating to a “neutral” rating in a research note on Wednesday, January 21st. Finally, Scotiabank reiterated a “sector perform” rating and issued a $23.60 price objective on shares of TIM in a report on Wednesday, November 5th. Two investment analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $23.25.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Jane Street Group LLC acquired a new stake in shares of TIM in the 4th quarter valued at about $538,000. Brooklyn Investment Group raised its stake in TIM by 35.7% during the fourth quarter. Brooklyn Investment Group now owns 16,677 shares of the company’s stock valued at $323,000 after buying an additional 4,389 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in TIM by 4.7% during the 4th quarter. Renaissance Technologies LLC now owns 1,848,386 shares of the company’s stock worth $35,951,000 after buying an additional 82,700 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of TIM by 30.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 91,943 shares of the company’s stock worth $1,788,000 after acquiring an additional 21,374 shares in the last quarter. Finally, Cerity Partners LLC increased its holdings in shares of TIM by 9.8% in the 4th quarter. Cerity Partners LLC now owns 42,164 shares of the company’s stock valued at $820,000 after acquiring an additional 3,763 shares during the last quarter.

TIM Stock Down 0.0%

The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.94 and a current ratio of 0.96. The firm has a market capitalization of $13.12 billion, a P/E ratio of 16.94, a P/E/G ratio of 0.83 and a beta of 0.47. The stock has a fifty day moving average price of $21.89 and a two-hundred day moving average price of $21.69.

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