Meritage Portfolio Management Has $3.81 Million Holdings in TIM S.A. Sponsored ADR $TIMB

Meritage Portfolio Management lessened its holdings in TIM S.A. Sponsored ADR (NYSE:TIMB) by 2.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 189,218 shares of the company’s stock after selling 5,192 shares during the period. Meritage Portfolio Management’s holdings in TIM were worth $3,805,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of TIM by 7.8% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,658 shares of the company’s stock worth $174,000 after acquiring an additional 623 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in shares of TIM by 19.3% in the 2nd quarter. Farther Finance Advisors LLC now owns 3,956 shares of the company’s stock worth $80,000 after acquiring an additional 641 shares during the last quarter. Royal Bank of Canada raised its holdings in shares of TIM by 1.3% in the 1st quarter. Royal Bank of Canada now owns 62,008 shares of the company’s stock worth $970,000 after acquiring an additional 789 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of TIM by 29.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 4,258 shares of the company’s stock worth $67,000 after acquiring an additional 969 shares during the last quarter. Finally, Parallel Advisors LLC increased its stake in TIM by 27.8% in the 2nd quarter. Parallel Advisors LLC now owns 6,233 shares of the company’s stock valued at $125,000 after buying an additional 1,355 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Wall Street Zen upgraded shares of TIM from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 20th. Barclays increased their price objective on shares of TIM from $20.00 to $21.00 and gave the company an “equal weight” rating in a research note on Monday, October 6th. Scotiabank increased their price objective on shares of TIM from $19.10 to $23.60 and gave the company a “sector outperform” rating in a research note on Thursday, July 31st. Citigroup assumed coverage on shares of TIM in a research note on Wednesday, September 10th. They issued a “buy” rating for the company. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of TIM in a research note on Saturday, September 27th. Three research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $21.50.

TIM Stock Down 3.8%

TIM stock opened at $20.53 on Friday. TIM S.A. Sponsored ADR has a twelve month low of $11.32 and a twelve month high of $22.47. The firm has a 50 day moving average price of $21.08 and a 200-day moving average price of $18.73. The company has a market capitalization of $9.94 billion, a P/E ratio of 15.91, a P/E/G ratio of 0.79 and a beta of 0.65. The company has a quick ratio of 0.88, a current ratio of 0.91 and a debt-to-equity ratio of 0.54.

TIM (NYSE:TIMB) last released its earnings results on Wednesday, July 30th. The company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.04. TIM had a net margin of 13.91% and a return on equity of 13.99%. The firm had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $6.62 billion. As a group, equities analysts predict that TIM S.A. Sponsored ADR will post 1.34 EPS for the current year.

TIM Dividend Announcement

The firm also recently disclosed a special dividend, which will be paid on Wednesday, January 28th. Investors of record on Friday, October 3rd will be issued a $0.1888 dividend. The ex-dividend date of this dividend is Friday, October 3rd. TIM’s dividend payout ratio (DPR) is 72.09%.

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.