TIM (NYSE:TIMB) Reaches New 12-Month Low – Here’s Why

TIM S.A. Sponsored ADR (NYSE:TIMB)’s share price hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $17.14 and last traded at $17.4940, with a volume of 808191 shares trading hands. The stock had previously closed at $17.35.

Wall Street Analysts Forecast Growth

TIMB has been the topic of a number of research analyst reports. Weiss Ratings raised shares of TIM from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, August 6th. The Goldman Sachs Group initiated coverage on shares of TIM in a research report on Monday, May 18th. They issued a “neutral” rating and a $23.40 target price for the company. Scotiabank increased their target price on TIM from $27.00 to $28.50 and gave the company a “sector perform” rating in a research note on Wednesday, May 27th. Wall Street Zen upgraded TIM from a “hold” rating to a “buy” rating in a research report on Sunday. Finally, Barclays decreased their price target on shares of TIM from $28.00 to $24.00 and set an “equal weight” rating on the stock in a research note on Friday, July 10th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $25.38.

TIM Price Performance

The business’s 50 day moving average price is $20.80 and its two-hundred day moving average price is $23.56. The stock has a market cap of $8.42 billion, a P/E ratio of 10.33, a price-to-earnings-growth ratio of 1.15 and a beta of 0.40. The company has a current ratio of 0.85, a quick ratio of 0.82 and a debt-to-equity ratio of 0.55.

TIM (NYSE:TIMB) last released its quarterly earnings results on Wednesday, June 17th. The company reported $0.42 earnings per share (EPS) for the quarter. TIM had a net margin of 15.73% and a return on equity of 17.99%. The company had revenue of $1.35 billion during the quarter. As a group, sell-side analysts expect that TIM S.A. Sponsored ADR will post 1.83 earnings per share for the current fiscal year.

TIM Dividend Announcement

The company also recently announced a special dividend, which was paid on Wednesday, July 29th. Shareholders of record on Monday, June 29th were issued a dividend of $0.1618 per share. The ex-dividend date was Monday, June 29th. TIM’s dividend payout ratio is 61.54%.

Insider Activity

In other news, CFO Marques Andrea Palma Viegas sold 35,000 shares of the stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $4.32, for a total value of $151,200.00. Following the completion of the transaction, the chief financial officer owned 83,259 shares of the company’s stock, valued at approximately $359,678.88. This represents a 29.60% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Institutional Investors Weigh In On TIM

Several hedge funds have recently made changes to their positions in the company. Eastern Bank purchased a new stake in TIM in the second quarter worth $34,000. NewEdge Advisors LLC lifted its position in TIM by 47.8% during the first quarter. NewEdge Advisors LLC now owns 21,510 shares of the company’s stock valued at $570,000 after buying an additional 6,959 shares during the period. Bank of America Corp DE lifted its position in TIM by 199.8% during the first quarter. Bank of America Corp DE now owns 251,330 shares of the company’s stock valued at $6,658,000 after buying an additional 167,504 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in shares of TIM by 73.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 4,544 shares of the company’s stock valued at $120,000 after buying an additional 1,925 shares in the last quarter. Finally, Quantinno Capital Management LP boosted its holdings in shares of TIM by 1.6% during the 1st quarter. Quantinno Capital Management LP now owns 80,757 shares of the company’s stock valued at $2,139,000 after buying an additional 1,267 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