TIM (NYSE:TIMB) Stock Rating Upgraded by Scotiabank

TIM (NYSE:TIMB) was upgraded by research analysts at Scotiabank from a “sector perform” rating to a “sector outperform” rating in a research note issued to investors on Friday, Marketbeat reports. The firm currently has a $24.80 target price on the stock, up from their previous target price of $17.50. Scotiabank’s target price would indicate a potential upside of 46.31% from the stock’s previous close.

Separately, Barclays cut their price objective on TIM from $19.00 to $18.00 and set an “equal weight” rating on the stock in a research report on Friday, August 2nd.

TIM Stock Down 0.3 %

Shares of TIMB stock opened at $16.95 on Friday. TIM has a 1 year low of $13.84 and a 1 year high of $19.14. The stock’s 50 day simple moving average is $15.92 and its two-hundred day simple moving average is $16.30. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.85 and a current ratio of 0.88.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TIMB. Assetmark Inc. boosted its position in TIM by 5.0% during the 4th quarter. Assetmark Inc. now owns 191,741 shares of the company’s stock valued at $3,541,000 after acquiring an additional 9,206 shares in the last quarter. US Bancorp DE grew its stake in TIM by 814.4% in the first quarter. US Bancorp DE now owns 22,943 shares of the company’s stock valued at $407,000 after purchasing an additional 20,434 shares during the last quarter. Victory Capital Management Inc. bought a new position in TIM in the fourth quarter worth about $191,000. Barometer Capital Management Inc. purchased a new stake in shares of TIM during the fourth quarter valued at about $118,000. Finally, Summit Global Investments lifted its position in shares of TIM by 147.6% during the second quarter. Summit Global Investments now owns 325,462 shares of the company’s stock valued at $4,661,000 after buying an additional 193,996 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.