TIM (NYSE:TIMB) Upgraded by Scotiabank to Sector Outperform

Scotiabank upgraded shares of TIM (NYSE:TIMB) from a sector perform rating to a sector outperform rating in a report released on Friday morning, MarketBeat Ratings reports. Scotiabank currently has $24.80 price objective on the stock, up from their prior price objective of $17.50.

Separately, Barclays cut their target price on shares of TIM from $19.00 to $18.00 and set an equal weight rating for the company in a research report on Friday, August 2nd.

TIM Trading Down 0.3 %

Shares of NYSE:TIMB opened at $16.90 on Friday. The stock has a market capitalization of $8.18 billion, a price-to-earnings ratio of 13.74, a PEG ratio of 0.73 and a beta of 0.87. TIM has a 1-year low of $13.84 and a 1-year high of $19.14. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.85 and a current ratio of 0.88. The company has a 50 day moving average price of $15.92 and a 200 day moving average price of $16.28.

TIM (NYSE:TIMB) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $0.31 EPS for the quarter. The business had revenue of $1.21 billion during the quarter. TIM had a net margin of 12.53% and a return on equity of 11.47%. On average, research analysts anticipate that TIM will post 1.24 EPS for the current fiscal year.

TIM Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 30th. Investors of record on Monday, September 30th will be paid a $0.088 dividend. The ex-dividend date is Monday, September 30th. This represents a $0.35 dividend on an annualized basis and a yield of 2.08%. TIM’s payout ratio is presently 28.46%.

Institutional Trading of TIM

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Point72 Asset Management L.P. boosted its position in shares of TIM by 33.0% during the 2nd quarter. Point72 Asset Management L.P. now owns 53,061 shares of the company’s stock valued at $760,000 after acquiring an additional 13,161 shares in the last quarter. Millennium Management LLC lifted its holdings in TIM by 16.0% during the 2nd quarter. Millennium Management LLC now owns 923,532 shares of the company’s stock valued at $13,225,000 after purchasing an additional 127,465 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of TIM by 12.3% in the second quarter. AQR Capital Management LLC now owns 88,534 shares of the company’s stock worth $1,268,000 after acquiring an additional 9,699 shares during the last quarter. Cubist Systematic Strategies LLC grew its position in shares of TIM by 217.6% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 87,719 shares of the company’s stock worth $1,256,000 after buying an additional 60,102 shares during the period. Finally, EverSource Wealth Advisors LLC grew its position in shares of TIM by 108.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,606 shares of the company’s stock worth $25,000 after buying an additional 835 shares during the period.

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.