TIM (NYSE:TIMB) Shares Gap Down – Time to Sell?

Tim S.A. (NYSE:TIMB)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $12.33, but opened at $12.03. TIM shares last traded at $12.04, with a volume of 65,067 shares.

Analysts Set New Price Targets

TIMB has been the subject of several recent research reports. Scotiabank reduced their price target on TIM from $24.80 to $23.20 and set a “sector outperform” rating for the company in a research report on Tuesday, November 5th. The Goldman Sachs Group cut their price objective on shares of TIM from $16.20 to $14.00 and set a “neutral” rating on the stock in a report on Thursday. UBS Group lowered TIM from a “buy” rating to a “neutral” rating in a report on Monday, December 9th. Finally, Barclays decreased their target price on TIM from $18.00 to $17.50 and set an “equal weight” rating for the company in a research report on Tuesday, November 12th.

TIM Price Performance

The firm’s 50 day simple moving average is $13.98 and its two-hundred day simple moving average is $15.07. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.97 and a quick ratio of 0.93. The firm has a market capitalization of $5.83 billion, a P/E ratio of 9.56, a P/E/G ratio of 0.57 and a beta of 0.84.

TIM (NYSE:TIMB) last announced its earnings results on Tuesday, November 5th. The company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.09). The business had revenue of $1.16 billion for the quarter. TIM had a net margin of 12.71% and a return on equity of 11.73%. As a group, analysts predict that Tim S.A. will post 1.2 earnings per share for the current year.

TIM Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 30th. Shareholders of record on Monday, December 30th will be paid a dividend of $0.1723 per share. The ex-dividend date of this dividend is Monday, December 30th. This is a positive change from TIM’s previous quarterly dividend of $0.09. This represents a $0.69 dividend on an annualized basis and a yield of 5.72%. TIM’s dividend payout ratio is 26.19%.

Institutional Trading of TIM

Several large investors have recently modified their holdings of TIMB. EverSource Wealth Advisors LLC raised its position 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 buying an additional 835 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of TIM in the 3rd quarter valued at $25,000. CWM LLC lifted its position in shares of 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 in the last quarter. Inspire Advisors LLC acquired a new position in shares of TIM during the 3rd quarter worth approximately $173,000. Finally, XTX Topco Ltd boosted its position in shares of TIM by 26.1% in the second quarter. XTX Topco Ltd now owns 13,264 shares of the company’s stock valued at $190,000 after acquiring an additional 2,746 shares during the period.

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.