The Goldman Sachs Group Lowers TIM (NYSE:TIMB) Price Target to $14.00

TIM (NYSE:TIMB) had its target price cut by The Goldman Sachs Group from $16.20 to $14.00 in a research note issued to investors on Thursday morning,Benzinga reports. They currently have a neutral rating on the stock.

TIMB has been the subject of several other reports. UBS Group cut TIM from a “buy” rating to a “neutral” rating in a report on Monday, December 9th. Barclays dropped their target price on shares of TIM from $18.00 to $17.50 and set an “equal weight” rating on the stock in a report on Tuesday, November 12th. Finally, Scotiabank reduced their price target on shares of TIM from $24.80 to $23.20 and set a “sector outperform” rating for the company in a report on Tuesday, November 5th.

TIM Trading Up 1.9 %

Shares of TIMB opened at $12.04 on Thursday. The firm has a market capitalization of $5.83 billion, a price-to-earnings ratio of 9.56, a PEG ratio of 0.57 and a beta of 0.84. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.97 and a quick ratio of 0.93. TIM has a 1-year low of $11.76 and a 1-year high of $19.14. The company has a 50-day moving average of $13.98 and a 200 day moving average of $15.07.

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

TIM Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Monday, December 30th will be given a $0.1723 dividend. This represents a $0.69 annualized dividend and a dividend yield of 5.72%. This is a positive change from TIM’s previous quarterly dividend of $0.09. The ex-dividend date is Monday, December 30th. TIM’s payout ratio is presently 26.19%.

Institutional Investors Weigh In On TIM

A number of institutional investors have recently added to or reduced their stakes in TIMB. EverSource Wealth Advisors LLC raised its holdings in TIM by 108.3% in the second quarter. EverSource Wealth Advisors LLC now owns 1,606 shares of the company’s stock worth $25,000 after purchasing an additional 835 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in shares of TIM in the 3rd quarter worth approximately $25,000. CWM LLC raised its stake in shares of TIM by 105.7% during the 2nd quarter. CWM LLC now owns 2,471 shares of the company’s stock worth $35,000 after acquiring an additional 1,270 shares in the last quarter. Inspire Advisors LLC bought a new position in shares of TIM during the 3rd quarter worth approximately $173,000. Finally, XTX Topco Ltd lifted its position in TIM by 26.1% during the second quarter. XTX Topco Ltd now owns 13,264 shares of the company’s stock valued at $190,000 after acquiring an additional 2,746 shares during 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.