TIM S.A. Sponsored ADR (NYSE:TIMB) Stock Has Average Price Target of $24.82

Shares of TIM S.A. Sponsored ADR (NYSE:TIMB) have been assigned an average rating of “Hold” from the thirteen brokerages that are currently covering the company, MarketBeat reports. Ten investment analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $24.82.

A number of equities analysts have commented on the stock. Wall Street Zen downgraded shares of TIM from a “buy” rating to a “hold” rating in a report on Saturday, August 29th. Morgan Stanley reaffirmed a “market perform” rating and issued a $22.00 price objective on shares of TIM in a research report on Thursday, August 20th. Weiss Ratings lowered shares of TIM from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, October 23rd. Bank of America raised shares of TIM from an “underperform” rating to a “neutral” rating in a research report on Tuesday, October 13th. Finally, Barclays lowered their target price on shares of TIM from $28.00 to $24.00 and set an “equal weight” rating for the company in a research note on Friday, July 10th.

TIM Trading Down 0.3%

Shares of NYSE:TIMB opened at $17.75 on Thursday. The company has a market capitalization of $8.49 billion, a PE ratio of 10.50, a P/E/G ratio of 1.76 and a beta of 0.33. The company has a current ratio of 0.85, a quick ratio of 0.82 and a debt-to-equity ratio of 0.55. TIM has a 12-month low of $15.94 and a 12-month high of $28.22. The business’s fifty day simple moving average is $18.40 and its 200-day simple moving average is $22.12.

TIM (NYSE:TIMB) last issued its quarterly earnings data on Wednesday, June 17th. The company reported $0.42 earnings per share for the quarter. TIM had a return on equity of 17.99% and a net margin of 15.73%. The firm had revenue of $1.35 billion during the quarter. As a group, equities research analysts predict that TIM will post 1.82 earnings per share for the current fiscal year.

TIM Announces Dividend

The firm also recently disclosed a special dividend, which will be paid on Friday, January 29th. Stockholders of record on Monday, September 28th will be issued a dividend of $0.2102 per share. The ex-dividend date is Monday, September 28th. TIM’s dividend payout ratio is currently 62.13%.

Institutional Investors Weigh In On TIM

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TIMB. Assetmark Inc. grew its stake in shares of TIM by 19.0% during the first quarter. Assetmark Inc. now owns 490,478 shares of the company’s stock worth $12,993,000 after acquiring an additional 78,379 shares during the last quarter. Bank of America Corp DE raised its position in shares of TIM by 199.8% in the 1st quarter. Bank of America Corp DE now owns 251,330 shares of the company’s stock valued at $6,658,000 after purchasing an additional 167,504 shares during the last quarter. Hsbc Holdings PLC raised its position in shares of TIM by 55.5% in the 1st quarter. Hsbc Holdings PLC now owns 135,167 shares of the company’s stock valued at $3,578,000 after purchasing an additional 48,232 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of TIM by 2.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 94,380 shares of the company’s stock valued at $2,500,000 after purchasing an additional 2,437 shares during the last quarter. Finally, Quantinno Capital Management LP boosted its stake in TIM by 1.6% in the 1st quarter. Quantinno Capital Management LP now owns 80,757 shares of the company’s stock worth $2,139,000 after purchasing an additional 1,267 shares in the last quarter.

About TIM

TIM SA is a Brazilian telecommunications company that provides mobile and fixed-line communications services to consumers, businesses and public-sector customers. Its offerings include voice and data plans, mobile internet, broadband connectivity and related digital services.

The company operates a nationwide wireless network, including 4G and 5G services, and provides connectivity solutions for corporate and institutional customers. Its business portfolio also includes Internet of Things applications, managed connectivity and other digital and technology services.

TIM traces its Brazilian operations to the late 1990s and has developed into one of the country’s major mobile operators.