TIM (NYSE:TIMB) Raised to “Buy” at Wall Street Zen

TIM (NYSE:TIMB) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued on Sunday.

Other equities research analysts have also issued research reports about the stock. Bradesco Corretora lowered shares of TIM to a “neutral” rating in a report on Tuesday, April 28th. Zacks Research downgraded shares of TIM from a “strong-buy” rating to a “hold” rating in a report on Friday, May 15th. Santander raised shares of TIM from a “neutral” rating to an “outperform” rating in a research report on Monday, June 22nd. Scotiabank raised their price objective on shares of TIM from $27.00 to $28.50 and gave the stock a “sector perform” rating in a research note on Wednesday, May 27th. Finally, Barclays dropped their target price on TIM from $28.00 to $24.00 and set an “equal weight” rating for the company in a research report on Friday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $25.38.

TIM Stock Performance

NYSE TIMB opened at $17.57 on Friday. The company has a market cap of $8.51 billion, a P/E ratio of 10.40, a P/E/G ratio of 1.15 and a beta of 0.40. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.82 and a current ratio of 0.85. The business’s 50 day moving average price is $20.72 and its 200-day moving average price is $23.52. TIM has a fifty-two week low of $17.14 and a fifty-two week high of $28.22.

TIM (NYSE:TIMB) last released its quarterly earnings results on Wednesday, June 17th. The company reported $0.42 earnings per share for the quarter. The company had revenue of $1.35 billion for the quarter. TIM had a return on equity of 17.99% and a net margin of 15.73%. Sell-side analysts predict that TIM will post 1.83 earnings per share for the current year.

Insider Activity at TIM

In other news, CFO Marques Andrea Palma Viegas sold 35,000 shares of the firm’s stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $4.32, for a total transaction of $151,200.00. Following the transaction, the chief financial officer owned 83,259 shares in the company, valued at approximately $359,678.88. This trade represents a 29.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Institutional Trading of TIM

A number of hedge funds have recently added to or reduced their stakes in the business. Wells Fargo & Company MN grew its holdings in TIM by 53.8% during the 4th quarter. Wells Fargo & Company MN now owns 1,413 shares of the company’s stock worth $27,000 after acquiring an additional 494 shares in the last quarter. Eastern Bank bought a new stake in shares of TIM in the 2nd quarter valued at about $34,000. Kestra Advisory Services LLC purchased a new stake in shares of TIM in the 4th quarter worth approximately $39,000. EverSource Wealth Advisors LLC lifted its position in shares of TIM by 188.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,060 shares of the company’s stock worth $41,000 after purchasing an additional 1,345 shares during the period. Finally, Raymond James Financial Inc. bought a new position in shares of TIM during the second quarter valued at approximately $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