TIM (NYSE:TIMB) Sees Strong Trading Volume After Analyst Upgrade

Shares of TIM S.A. Sponsored ADR (NYSE:TIMB) saw strong trading volume on Tuesday after New Street Research upgraded the stock from a neutral rating to a buy rating. 535,303 shares were traded during trading, an increase of 25% from the previous session’s volume of 427,302 shares.The stock last traded at $25.8540 and had previously closed at $26.01.

TIMB has been the topic of a number of other reports. Citigroup cut shares of TIM from a “buy” rating to a “neutral” rating in a report on Wednesday, January 21st. Barclays raised their price target on shares of TIM from $23.50 to $26.00 and gave the company an “equal weight” rating in a report on Monday, March 2nd. Weiss Ratings upgraded shares of TIM from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 16th. Scotiabank raised their price target on shares of TIM from $23.60 to $29.50 and gave the company a “sector perform” rating in a report on Monday, March 30th. Finally, Bank of America assumed coverage on shares of TIM in a report on Thursday, December 11th. They issued an “underperform” rating and a $24.00 price target on the stock. Two research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $24.65.

Hedge Funds Weigh In On TIM

Hedge funds and other institutional investors have recently modified their holdings of the stock. Global Retirement Partners LLC raised its position in shares of TIM by 5,590.5% in the 3rd quarter. Global Retirement Partners LLC now owns 1,195 shares of the company’s stock valued at $27,000 after purchasing an additional 1,174 shares during the last quarter. TD Private Client Wealth LLC purchased a new position in shares of TIM in the 3rd quarter valued at approximately $28,000. Wells Fargo & Company MN raised its position in shares of TIM by 53.8% in 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 last quarter. Kestra Advisory Services LLC purchased a new position in shares of TIM in the 4th quarter valued at approximately $39,000. Finally, EverSource Wealth Advisors LLC raised its position in shares of TIM by 188.1% in 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 last quarter.

TIM Stock Up 3.7%

The stock has a market capitalization of $13.08 billion, a PE ratio of 16.88, a price-to-earnings-growth ratio of 0.68 and a beta of 0.48. The company has a current ratio of 0.89, a quick ratio of 0.86 and a debt-to-equity ratio of 0.58. The company’s 50-day moving average is $25.76 and its 200 day moving average is $23.22.

TIM (NYSE:TIMB) last announced its quarterly earnings data on Tuesday, February 10th. The company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.48 by $0.04. The firm had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.30 billion. TIM had a net margin of 16.28% and a return on equity of 17.84%. As a group, analysts anticipate that TIM S.A. Sponsored ADR will post 1.34 EPS for the current year.

TIM Dividend Announcement

The business also recently disclosed a special dividend, which will be paid on Thursday, May 7th. Investors of record on Monday, March 30th will be given a $0.1552 dividend. The ex-dividend date of this dividend is Monday, March 30th. TIM’s dividend payout ratio (DPR) is presently 91.88%.

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