TIM (NYSE:TIMB) Shares Gap Up Following Dividend Announcement

Tim S.A. (NYSE:TIMB) gapped up before the market opened on Tuesday after the company announced a dividend. The stock had previously closed at $13.54, but opened at $14.33. TIM shares last traded at $14.33, with a volume of 48,376 shares.

The newly announced dividend which will be paid on Tuesday, April 29th. Stockholders of record on Friday, February 21st will be given a dividend of $0.0717 per share. This represents a $0.29 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date of this dividend is Friday, February 21st. TIM’s dividend payout ratio is currently 56.35%.

Analyst Upgrades and Downgrades

TIMB has been the subject of several research analyst reports. Scotiabank decreased their price objective on TIM from $23.20 to $17.60 and set a “sector outperform” rating for the company in a research report on Wednesday. UBS Group cut shares of TIM from a “buy” rating to a “neutral” rating in a report on Monday, December 9th. Barclays dropped their price objective on shares of TIM from $17.50 to $15.50 and set an “equal weight” rating on the stock in a report on Tuesday, January 14th. Finally, The Goldman Sachs Group cut their price objective on shares of TIM from $16.20 to $14.00 and set a “neutral” rating on the stock in a research report on Thursday, December 19th.

TIM Trading Up 1.8 %

The business has a 50-day simple moving average of $12.59 and a two-hundred day simple moving average of $14.46. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.93 and a current ratio of 0.97. The stock has a market cap of $7.26 billion, a price-to-earnings ratio of 11.90, a P/E/G ratio of 0.60 and a beta of 0.84.

TIM (NYSE:TIMB) last issued its quarterly earnings results on Tuesday, February 11th. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.04). TIM had a return on equity of 11.73% and a net margin of 12.71%. As a group, research analysts forecast that Tim S.A. will post 1.16 EPS for the current year.

Institutional Trading of TIM

Institutional investors and hedge funds have recently bought and sold shares of the stock. Stifel Financial Corp increased its position in shares of TIM by 1.0% during the 3rd quarter. Stifel Financial Corp now owns 85,050 shares of the company’s stock worth $1,465,000 after purchasing an additional 822 shares during the last quarter. QRG Capital Management Inc. grew its stake in shares of TIM by 7.9% in the third quarter. QRG Capital Management Inc. now owns 14,881 shares of the company’s stock valued at $256,000 after buying an additional 1,085 shares in the last quarter. DGS Capital Management LLC increased its holdings in TIM by 4.4% during the third quarter. DGS Capital Management LLC now owns 32,682 shares of the company’s stock worth $563,000 after buying an additional 1,367 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in TIM during the third quarter worth $25,000. Finally, Global Retirement Partners LLC lifted its stake in TIM by 1,005.0% in the fourth quarter. Global Retirement Partners LLC now owns 2,431 shares of the company’s stock valued at $29,000 after acquiring an additional 2,211 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.