TIM (NYSE:TIMB) Shares Gap Down – What’s Next?

Tim S.A. (NYSE:TIMB) gapped down prior to trading on Wednesday . The stock had previously closed at $14.89, but opened at $14.00. TIM shares last traded at $14.01, with a volume of 148,817 shares trading hands.

Wall Street Analyst Weigh In

A number of research firms have weighed in on TIMB. Scotiabank decreased their price objective on TIM from $23.20 to $17.60 and set a “sector outperform” rating on the stock in a report on Wednesday, February 12th. Barclays increased their price target on shares of TIM from $15.50 to $16.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 18th. The Goldman Sachs Group dropped 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, December 19th. Finally, UBS Group downgraded TIM from a “buy” rating to a “neutral” rating in a report on Monday, December 9th.

TIM Stock Performance

The stock has a market cap of $6.83 billion, a P/E ratio of 11.96, a price-to-earnings-growth ratio of 0.67 and a beta of 0.84. The company’s 50 day moving average price is $12.98 and its 200-day moving average price is $14.45. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.93 and a current ratio of 0.97.

TIM (NYSE:TIMB) last announced its quarterly 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 12.24% and a return on equity of 11.91%. Equities analysts forecast that Tim S.A. will post 1.34 EPS for the current fiscal year.

TIM Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 29th. Investors 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 2.03%. The ex-dividend date is Friday, February 21st. TIM’s dividend payout ratio is currently 51.69%.

Institutional Trading of TIM

A number of institutional investors have recently modified their holdings of TIMB. State Street Corp boosted its position in shares of TIM by 16.7% during the third quarter. State Street Corp now owns 583,724 shares of the company’s stock valued at $10,207,000 after purchasing an additional 83,468 shares in the last quarter. Stifel Financial Corp increased its stake in shares of TIM by 1.0% in the 3rd quarter. Stifel Financial Corp now owns 85,050 shares of the company’s stock worth $1,465,000 after purchasing an additional 822 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its holdings in TIM by 13.8% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 132,198 shares of the company’s stock worth $1,555,000 after acquiring an additional 16,000 shares in the last quarter. Jane Street Group LLC purchased a new stake in TIM in the 3rd quarter worth $215,000. Finally, Meritage Portfolio Management purchased a new stake in TIM in the 3rd quarter worth $3,683,000.

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.