TIM (NYSE:TIMB) Price Target Cut to $17.50 by Analysts at Barclays

TIM (NYSE:TIMB) had its price target dropped by research analysts at Barclays from $18.00 to $17.50 in a report released on Tuesday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Barclays‘s price target would indicate a potential upside of 23.07% from the company’s previous close.

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

TIM Stock Performance

NYSE TIMB traded down $0.13 on Tuesday, hitting $14.22. 46,983 shares of the company traded hands, compared to its average volume of 475,436. The business’s 50 day moving average price is $15.80 and its 200-day moving average price is $15.70. TIM has a 52-week low of $13.74 and a 52-week high of $19.14. The company has a current ratio of 0.97, a quick ratio of 0.85 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $6.88 billion, a price-to-earnings ratio of 11.29, a P/E/G ratio of 0.59 and a beta of 0.89.

TIM (NYSE:TIMB) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.09). The company had revenue of $1.16 billion for the quarter. TIM had a net margin of 12.71% and a return on equity of 11.73%. Equities analysts expect that TIM will post 1.27 earnings per share for the current year.

Hedge Funds Weigh In On TIM

Several hedge funds have recently modified their holdings of TIMB. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of TIM by 137.7% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 707,710 shares of the company’s stock worth $12,187,000 after purchasing an additional 409,992 shares during the last quarter. Meritage Portfolio Management bought a new stake in TIM in the 3rd quarter worth approximately $3,683,000. Assetmark Inc. boosted its position in shares of TIM by 10.4% during the 3rd quarter. Assetmark Inc. now owns 309,225 shares of the company’s stock valued at $5,325,000 after acquiring an additional 29,030 shares during the last quarter. QRG Capital Management Inc. boosted its position in shares of TIM by 7.9% during the 3rd quarter. QRG Capital Management Inc. now owns 14,881 shares of the company’s stock valued at $256,000 after acquiring an additional 1,085 shares during the last quarter. Finally, Custom Index Systems LLC grew its holdings in shares of TIM by 17.3% in the third quarter. Custom Index Systems LLC now owns 23,536 shares of the company’s stock valued at $405,000 after purchasing an additional 3,468 shares in the last quarter.

TIM Company Profile

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.