TIM (NYSE:TIMB) Cut to Buy at Wall Street Zen

TIM (NYSE:TIMB) was downgraded by investment analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research report issued on Monday.

TIMB has been the topic of a number of other research reports. The Goldman Sachs Group initiated coverage on TIM in a research note on Monday, May 18th. They set a “neutral” rating and a $23.40 price objective on the stock. Barclays upped their price objective on TIM from $27.00 to $28.00 and gave the stock an “equal weight” rating in a research note on Friday, May 8th. Scotiabank dropped their price objective on TIM from $29.50 to $27.00 and set a “sector perform” rating on the stock in a research note on Wednesday, May 6th. Zacks Research cut TIM from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 15th. Finally, Bradesco Corretora cut TIM to a “neutral” rating in a research note on Tuesday, April 28th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, TIM has a consensus rating of “Hold” and an average target price of $25.65.

TIM Trading Down 0.2%

Shares of TIM stock opened at $22.33 on Monday. TIM has a 12-month low of $16.64 and a 12-month high of $28.22. The stock has a market cap of $10.81 billion, a P/E ratio of 13.61, a P/E/G ratio of 1.15 and a beta of 0.43. The company has a quick ratio of 0.89, a current ratio of 0.92 and a debt-to-equity ratio of 0.58. The business’s 50 day moving average is $25.31 and its 200-day moving average is $23.87.

TIM (NYSE:TIMB) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.02). TIM had a return on equity of 17.77% and a net margin of 16.00%.The company had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.32 billion. Equities research analysts predict that TIM will post 1.81 earnings per share for the current fiscal year.

Insider Buying and Selling

In other TIM news, insider Auana Mattar Lima sold 8,200 shares of the company’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $4.42, for a total value of $36,244.00. Following the transaction, the insider directly owned 36,686 shares of the company’s stock, valued at $162,152.12. This represents a 18.27% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TIMB. Royal Bank of Canada grew its holdings in TIM by 1.3% in the 1st quarter. Royal Bank of Canada now owns 62,008 shares of the company’s stock valued at $970,000 after buying an additional 789 shares in the last quarter. Amundi acquired a new position in TIM in the 1st quarter valued at $87,000. Goldman Sachs Group Inc. grew its holdings in TIM by 4.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,056,805 shares of the company’s stock valued at $16,539,000 after buying an additional 47,130 shares in the last quarter. Creative Planning grew its holdings in TIM by 9.2% in the 2nd quarter. Creative Planning now owns 21,511 shares of the company’s stock valued at $433,000 after buying an additional 1,814 shares in the last quarter. Finally, Rhumbline Advisers grew its holdings in TIM by 117.7% in the 2nd quarter. Rhumbline Advisers now owns 10,018 shares of the company’s stock valued at $201,000 after buying an additional 5,417 shares in the last quarter.

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