TIM (NYSE:TIMB) Upgraded by The Goldman Sachs Group to Hold Rating

The Goldman Sachs Group upgraded shares of TIM (NYSE:TIMB) to a hold rating in a report released on Monday morning,Zacks.com reports.

Other equities research analysts have also issued reports about the company. Wall Street Zen upgraded TIM from a “buy” rating to a “strong-buy” rating in a research report on Sunday. Weiss Ratings lowered TIM from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, May 7th. New Street Research upgraded TIM from a “neutral” rating to a “buy” rating in a research report on Tuesday, April 7th. Barclays lifted their price objective on TIM from $27.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Friday, May 8th. Finally, Bradesco Corretora lowered TIM to a “neutral” rating in a research report on Tuesday, April 28th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, TIM has an average rating of “Hold” and a consensus price target of $25.65.

TIM Price Performance

Shares of TIMB stock opened at $22.17 on Monday. The firm has a market cap of $10.73 billion, a P/E ratio of 13.52, a P/E/G ratio of 1.13 and a beta of 0.43. TIM has a fifty-two week low of $16.64 and a fifty-two week high of $28.22. The business’s 50 day moving average price is $25.60 and its 200-day moving average price is $23.88. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.89 and a current ratio of 0.92.

TIM (NYSE:TIMB) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.02). The business had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.32 billion. TIM had a return on equity of 17.77% and a net margin of 16.00%. On average, equities research analysts anticipate that TIM will post 1.81 earnings per share for the current year.

TIM Announces Dividend

The business also recently disclosed a special dividend, which was paid on Thursday, May 7th. Shareholders of record on Monday, March 30th were paid a dividend of $0.1552 per share. The ex-dividend date was Monday, March 30th. TIM’s payout ratio is presently 67.07%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN raised its stake in TIM by 53.8% during the fourth quarter. Wells Fargo & Company MN now owns 1,413 shares of the company’s stock valued at $27,000 after buying an additional 494 shares during the last quarter. TD Private Client Wealth LLC purchased a new position in TIM during the third quarter valued at $28,000. Kestra Advisory Services LLC purchased a new position in TIM during the fourth quarter valued at $39,000. EverSource Wealth Advisors LLC raised its stake in TIM by 188.1% during the second quarter. EverSource Wealth Advisors LLC now owns 2,060 shares of the company’s stock valued at $41,000 after buying an additional 1,345 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in TIM during the second quarter valued at $42,000.

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. TIM S.A is based in Rio de Janeiro, Brazil. The company operates as a subsidiary of TIM Brasil Serviços e Participações SA