Barclays Cuts TIM (NYSE:TIMB) Price Target to $17.50

TIM (NYSE:TIMB) had its price objective reduced by Barclays from $18.00 to $17.50 in a research note issued to investors on Tuesday,Benzinga reports. Barclays currently has an equal weight rating on the stock.

Separately, Scotiabank decreased their price target on shares of TIM from $24.80 to $23.20 and set a “sector outperform” rating for the company in a report on Tuesday, November 5th.

TIM Stock Performance

Shares of NYSE:TIMB opened at $14.24 on Tuesday. TIM has a 52 week low of $13.74 and a 52 week high of $19.14. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.93 and a current ratio of 0.97. The firm has a 50 day simple moving average of $15.72 and a 200 day simple moving average of $15.66.

TIM (NYSE:TIMB) last issued its earnings results on Tuesday, November 5th. The company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.09). The business had revenue of $1.16 billion during the quarter. TIM had a return on equity of 11.73% and a net margin of 12.71%. Research analysts forecast that TIM will post 1.27 EPS for the current fiscal year.

TIM Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 30th. Shareholders of record on Monday, September 30th were paid a $0.088 dividend. This represents a $0.35 dividend on an annualized basis and a yield of 2.47%. The ex-dividend date of this dividend was Monday, September 30th. TIM’s dividend payout ratio (DPR) is presently 26.98%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of TIMB. EverSource Wealth Advisors LLC boosted its stake in shares of TIM by 108.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,606 shares of the company’s stock worth $25,000 after acquiring an additional 835 shares in the last quarter. QRG Capital Management Inc. lifted its position in shares of TIM by 7.9% in the 3rd quarter. QRG Capital Management Inc. now owns 14,881 shares of the company’s stock worth $256,000 after acquiring an additional 1,085 shares during the period. CWM LLC lifted its position in TIM by 105.7% in the second quarter. CWM LLC now owns 2,471 shares of the company’s stock worth $35,000 after purchasing an additional 1,270 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in TIM during the third quarter worth $25,000. Finally, XTX Topco Ltd increased its holdings in TIM by 26.1% in the 2nd quarter. XTX Topco Ltd now owns 13,264 shares of the company’s stock valued at $190,000 after buying an additional 2,746 shares during the period.

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.