TIM (NYSE:TIMB) Rating Increased to Buy at New Street Research

TIM (NYSE:TIMB) was upgraded by New Street Research from a “neutral” rating to a “buy” rating in a research report issued on Tuesday,Finviz reports.

TIMB has been the subject of several other research reports. Barclays upped their price objective on shares of TIM from $23.50 to $26.00 and gave the stock an “equal weight” rating in a report on Monday, March 2nd. Citigroup downgraded shares of TIM from a “buy” rating to a “neutral” rating in a report on Wednesday, January 21st. Weiss Ratings raised shares of TIM from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 16th. 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 objective for the company. Finally, Scotiabank upped their price objective on shares of TIM from $23.60 to $29.50 and gave the stock a “sector perform” rating in a report on Monday, March 30th. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, TIM currently has a consensus rating of “Moderate Buy” and a consensus price target of $24.65.

TIM Stock Performance

TIMB stock opened at $26.01 on Tuesday. The company has a market capitalization of $12.59 billion, a P/E ratio of 16.25, a PEG ratio of 0.68 and a beta of 0.48. The company has a 50-day simple moving average of $25.66 and a 200 day simple moving average of $23.16. TIM has a fifty-two week low of $14.18 and a fifty-two week high of $27.74. The company has a quick ratio of 0.86, a current ratio of 0.89 and a debt-to-equity ratio of 0.58.

TIM (NYSE:TIMB) last posted its quarterly earnings data on Tuesday, February 10th. The company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.04. The business had revenue of $1.25 billion during 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 17.84%. Sell-side analysts predict that TIM will post 1.34 earnings per share for the current fiscal year.

Institutional Investors Weigh In On TIM

A number of institutional investors and hedge funds have recently bought and sold shares of TIMB. Royal Bank of Canada lifted 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 acquiring an additional 789 shares during the last quarter. Amundi acquired a new stake in TIM in the 1st quarter valued at about $87,000. Goldman Sachs Group Inc. lifted 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 acquiring an additional 47,130 shares during the last quarter. Creative Planning lifted 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 acquiring an additional 1,814 shares during the last quarter. Finally, Rhumbline Advisers lifted 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 acquiring an additional 5,417 shares during the last quarter.

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