Scotiabank Forecasts Strong Price Appreciation for TIM (NYSE:TIMB) Stock

TIM (NYSE:TIMB) had its price objective hoisted by investment analysts at Scotiabank from $23.60 to $29.50 in a report issued on Monday,Benzinga reports. The brokerage presently has a “sector perform” rating on the stock. Scotiabank’s price target suggests a potential upside of 15.53% from the company’s previous close.

TIMB has been the topic of several other reports. Weiss Ratings upgraded TIM from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, March 16th. Bank of America began coverage on TIM in a report on Thursday, December 11th. They set an “underperform” rating and a $24.00 price target on the stock. Barclays increased their price objective on TIM from $23.50 to $26.00 and gave the company an “equal weight” rating in a research report on Monday, March 2nd. Finally, Citigroup lowered TIM from a “buy” rating to a “neutral” rating in a research report on Wednesday, January 21st. Two research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $24.65.

TIM Stock Up 0.1%

NYSE:TIMB traded up $0.02 on Monday, reaching $25.54. 116,092 shares of the stock traded hands, compared to its average volume of 421,461. The company has a current ratio of 0.89, a quick ratio of 0.86 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $12.36 billion, a price-to-earnings ratio of 15.97, a PEG ratio of 0.65 and a beta of 0.46. TIM has a 12 month low of $14.18 and a 12 month high of $27.74. The company’s fifty day simple moving average is $25.23 and its 200 day simple moving average is $22.95.

TIM (NYSE:TIMB) last posted its quarterly earnings results on Tuesday, February 10th. The company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.04. The firm had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.30 billion. TIM had a net margin of 16.28% and a return on equity of 17.84%. Equities analysts predict that TIM will post 1.34 EPS for the current fiscal year.

Institutional Trading of TIM

Large investors have recently modified their holdings of the company. Ritholtz Wealth Management increased its position in TIM by 0.3% during the third quarter. Ritholtz Wealth Management now owns 150,793 shares of the company’s stock valued at $3,366,000 after acquiring an additional 441 shares during the last quarter. Wells Fargo & Company MN boosted its position in TIM by 53.8% in the fourth quarter. Wells Fargo & Company MN now owns 1,413 shares of the company’s stock worth $27,000 after purchasing an additional 494 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of TIM by 23.8% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,619 shares of the company’s stock valued at $51,000 after purchasing an additional 504 shares during the period. Kathmere Capital Management LLC increased its position in shares of TIM by 4.4% during the 3rd quarter. Kathmere Capital Management LLC now owns 14,761 shares of the company’s stock valued at $329,000 after purchasing an additional 627 shares during the last quarter. Finally, NewEdge Advisors LLC increased its position in shares of TIM by 5.2% during the 4th quarter. NewEdge Advisors LLC now owns 14,551 shares of the company’s stock valued at $283,000 after purchasing an additional 714 shares during the last quarter.

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