TIM (NYSE:TIMB) Shares Gap Up Following Dividend Announcement

Tim S.A. (NYSE:TIMB) shares gapped up before the market opened on Tuesday following a dividend announcement from the company. The stock had previously closed at $13.54, but opened at $14.33. TIM shares last traded at $14.33, with a volume of 48,376 shares.

The newly announced dividend which will be paid on Tuesday, April 29th. Stockholders of record on Friday, February 21st will be issued a dividend of $0.0717 per share. This represents a $0.29 annualized dividend and a dividend yield of 1.90%. The ex-dividend date is Friday, February 21st. TIM’s payout ratio is 56.35%.

Analyst Upgrades and Downgrades

TIMB has been the topic of a number of recent analyst reports. Barclays lowered their target price on shares of TIM from $17.50 to $15.50 and set an “equal weight” rating on the stock in a research note on Tuesday, January 14th. The Goldman Sachs Group dropped their price objective on shares of TIM from $16.20 to $14.00 and set a “neutral” rating for the company in a report on Thursday, December 19th. UBS Group lowered shares of TIM from a “buy” rating to a “neutral” rating in a research report on Monday, December 9th. Finally, Scotiabank lowered their price target on TIM from $23.20 to $17.60 and set a “sector outperform” rating on the stock in a research report on Wednesday.

TIM Price Performance

The stock has a market capitalization of $7.29 billion, a PE ratio of 11.96, a P/E/G ratio of 0.60 and a beta of 0.84. 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’s 50 day simple moving average is $12.59 and its 200 day simple moving average is $14.46.

TIM (NYSE:TIMB) last released its earnings results on Tuesday, February 11th. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.04). TIM had a net margin of 12.71% and a return on equity of 11.73%. As a group, equities analysts forecast that Tim S.A. will post 1.16 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of TIMB. Healthcare of Ontario Pension Plan Trust Fund bought a new position in TIM during the 3rd quarter worth approximately $12,054,000. Schroder Investment Management Group bought a new position in shares of TIM in the fourth quarter worth approximately $5,666,000. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of TIM by 137.7% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 707,710 shares of the company’s stock worth $12,187,000 after buying an additional 409,992 shares during the period. Itau Unibanco Holding S.A. raised its holdings in TIM by 55.8% during the 3rd quarter. Itau Unibanco Holding S.A. now owns 1,073,450 shares of the company’s stock valued at $18,485,000 after buying an additional 384,500 shares during the last quarter. Finally, Meritage Portfolio Management purchased a new stake in TIM during the 3rd quarter valued at $3,683,000.

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.