TIM (NYSE:TIMB) Announces Quarterly Earnings Results, Misses Estimates By $0.09 EPS

Posted by James Quigley on Nov 8th, 2024

TIM (NYSE:TIMB – Get Free Report) announced its quarterly earnings results on Tuesday. The company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.09), Zacks reports. TIM had a net margin of 12.71% and a return on equity of 11.73%. The company had revenue of $1.16 billion during the quarter.

TIM Stock Performance

Shares of TIM stock traded down $0.29 on Friday, reaching $13.82. The company’s stock had a trading volume of 175,251 shares, compared to its average volume of 474,568. The company has a quick ratio of 0.85, a current ratio of 0.97 and a debt-to-equity ratio of 0.52. The stock has a 50-day moving average price of $15.87 and a 200-day moving average price of $15.75. TIM has a 52-week low of $13.74 and a 52-week high of $19.14.

TIM Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 30th. Shareholders of record on Monday, September 30th were issued a $0.088 dividend. This represents a $0.35 annualized dividend and a yield of 2.55%. The ex-dividend date of this dividend was Monday, September 30th. TIM’s payout ratio is currently 26.98%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Barclays cut their target price on shares of TIM from $19.00 to $18.00 and set an “equal weight” rating for the company in a report on Friday, August 2nd. Scotiabank dropped their price target on shares of TIM from $24.80 to $23.20 and set a “sector outperform” rating on the stock in a research report on Tuesday.

Check Out Our Latest Analysis on TIM

About TIM

(Get Free Report)

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.