TIM (NYSE:TIMB) Price Target Cut to $27.00 by Analysts at Scotiabank

TIM (NYSE:TIMB) had its target price cut by Scotiabank from $29.50 to $27.00 in a research note released on Wednesday morning,Benzinga reports. They currently have a sector perform rating on the stock.

TIMB has been the topic of several other reports. New Street Research upgraded shares of TIM from a “neutral” rating to a “buy” rating in a research report on Tuesday, April 7th. Bradesco Corretora lowered shares of TIM to a “neutral” rating in a research report on Tuesday, April 28th. Weiss Ratings upgraded shares of TIM from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, March 16th. Barclays lifted their price objective on TIM from $26.00 to $27.00 and gave the company an “equal weight” rating in a report on Wednesday, April 15th. Finally, Citigroup lowered TIM from a “buy” rating to a “neutral” rating in a research note on Wednesday, January 21st. Two research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, TIM has a consensus rating of “Moderate Buy” and an average target price of $25.90.

TIM Price Performance

Shares of NYSE:TIMB opened at $24.99 on Wednesday. TIM has a 1-year low of $16.64 and a 1-year high of $28.22. The firm has a market capitalization of $12.10 billion, a PE ratio of 15.24, a PEG ratio of 1.56 and a beta of 0.43. The business’s 50 day moving average is $26.21 and its 200-day moving average is $23.86. The company has a current ratio of 0.89, a quick ratio of 0.86 and a debt-to-equity ratio of 0.58.

TIM (NYSE:TIMB) last issued its earnings results on Tuesday, May 5th. The company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.02). TIM had a net margin of 16.00% and a return on equity of 17.96%. The firm had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.32 billion. Sell-side analysts predict that TIM will post 1.9 earnings per share for the current year.

TIM Announces Dividend

The company also recently disclosed a special dividend, which will be paid on Thursday, May 7th. Shareholders of record on Monday, March 30th will be paid a dividend of $0.1552 per share. The ex-dividend date of this dividend is Monday, March 30th. TIM’s dividend payout ratio is currently 68.75%.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of TIMB. Global Retirement Partners LLC grew its position in TIM by 5,590.5% during the 3rd quarter. Global Retirement Partners LLC now owns 1,195 shares of the company’s stock worth $27,000 after acquiring an additional 1,174 shares during the last quarter. Wells Fargo & Company MN raised its position in 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. TD Private Client Wealth LLC acquired a new position in TIM in the third quarter worth $28,000. Kestra Advisory Services LLC acquired a new position in TIM in the fourth quarter worth $39,000. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of TIM by 188.1% during the second quarter. EverSource Wealth Advisors LLC now owns 2,060 shares of the company’s stock worth $41,000 after purchasing an additional 1,345 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