TIM (NYSE:TIMB) Price Target Lowered to $17.50 at Barclays

TIM (NYSE:TIMB) had its price objective trimmed by Barclays from $18.00 to $17.50 in a research note released on Tuesday,Benzinga reports. The firm currently has an equal weight rating on the stock.

Separately, Scotiabank dropped their price objective on TIM from $24.80 to $23.20 and set a “sector outperform” rating for the company in a report on Tuesday, November 5th.

TIM Price Performance

TIMB opened at $14.24 on Tuesday. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.97 and a quick ratio of 0.93. The company’s 50 day simple moving average is $15.72 and its 200-day simple moving average is $15.66. TIM has a one year low of $13.74 and a one year high of $19.14.

TIM (NYSE:TIMB) last issued its earnings results on Tuesday, November 5th. The company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.09). The business had revenue of $1.16 billion during the quarter. TIM had a net margin of 12.71% and a return on equity of 11.73%. Sell-side analysts anticipate that TIM will post 1.27 EPS for the current fiscal year.

TIM Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 30th. Shareholders of record on Monday, September 30th were paid a $0.088 dividend. This represents a $0.35 annualized dividend and a yield of 2.47%. The ex-dividend date was Monday, September 30th. TIM’s payout ratio is presently 26.98%.

Hedge Funds Weigh In On TIM

Several institutional investors and hedge funds have recently made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in TIM during the 3rd quarter worth $25,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of TIM during the third quarter worth about $12,054,000. Quantbot Technologies LP raised its position in shares of TIM by 90.2% during the third quarter. Quantbot Technologies LP now owns 38,840 shares of the company’s stock worth $669,000 after purchasing an additional 18,418 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of 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 purchasing an additional 409,992 shares in the last quarter. Finally, Meritage Portfolio Management acquired a new position in shares of TIM in the 3rd quarter valued at approximately $3,683,000.

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.