TIM (NYSE:TIMB) Reaches New 12-Month Low After Analyst Downgrade

Shares of Tim S.A. (NYSE:TIMB) reached a new 52-week low during trading on Thursday after The Goldman Sachs Group lowered their price target on the stock from $16.20 to $14.00. The Goldman Sachs Group currently has a neutral rating on the stock. TIM traded as low as $11.76 and last traded at $11.82, with a volume of 754027 shares trading hands. The stock had previously closed at $12.33.

A number of other research analysts also recently commented on the stock. Barclays lowered their price target on shares of TIM from $18.00 to $17.50 and set an “equal weight” rating for the company in a report on Tuesday, November 12th. Scotiabank lowered their price objective on TIM from $24.80 to $23.20 and set a “sector outperform” rating for the company in a research note on Tuesday, November 5th. Finally, UBS Group downgraded TIM from a “buy” rating to a “neutral” rating in a research report on Monday, December 9th.

Hedge Funds Weigh In On TIM

Several hedge funds have recently added to or reduced their stakes in TIMB. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of TIM during the third quarter valued at approximately $12,054,000. Crossmark Global Holdings Inc. purchased a new stake in shares of TIM in the second quarter worth approximately $8,818,000. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in TIM by 137.7% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 707,710 shares of the company’s stock valued at $12,187,000 after acquiring an additional 409,992 shares during the period. Itau Unibanco Holding S.A. grew its position in TIM by 55.8% in the 3rd quarter. Itau Unibanco Holding S.A. now owns 1,073,450 shares of the company’s stock valued at $18,485,000 after acquiring an additional 384,500 shares during the last quarter. Finally, Meritage Portfolio Management purchased a new stake in TIM in the third quarter worth $3,683,000.

TIM Stock Performance

The firm has a market cap of $5.92 billion, a PE ratio of 9.71, a price-to-earnings-growth ratio of 0.57 and a beta of 0.84. The company has a quick ratio of 0.93, a current ratio of 0.97 and a debt-to-equity ratio of 0.52. The business has a 50 day simple moving average of $13.92 and a two-hundred day simple moving average of $15.05.

TIM (NYSE:TIMB) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.09). The company had revenue of $1.16 billion during the quarter. TIM had a return on equity of 11.73% and a net margin of 12.71%. As a group, equities research analysts forecast that Tim S.A. will post 1.2 earnings per share for the current fiscal year.

TIM Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Monday, December 30th will be given a dividend of $0.1723 per share. The ex-dividend date of this dividend is Monday, December 30th. This is a positive change from TIM’s previous quarterly dividend of $0.09. This represents a $0.69 dividend on an annualized basis and a dividend yield of 5.63%. TIM’s dividend payout ratio (DPR) is 26.19%.

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.