TIM (NYSE:TIMB) Price Target Raised to $23.50 at Barclays

TIM (NYSE:TIMB) had its price objective boosted by research analysts at Barclays from $21.00 to $23.50 in a note issued to investors on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Barclays‘s price target would suggest a potential upside of 2.73% from the stock’s current price.

A number of other equities analysts also recently commented on TIMB. Weiss Ratings reiterated a “hold (c+)” rating on shares of TIM in a research report on Wednesday. Wall Street Zen raised shares of TIM from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 20th. HSBC upgraded shares of TIM from a “hold” rating to a “buy” rating and upped their price objective for the company from $21.00 to $27.00 in a research note on Wednesday. Zacks Research raised TIM from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 15th. Finally, Citigroup assumed coverage on shares of TIM in a report on Wednesday, September 10th. They issued a “buy” rating on the stock. Two research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $23.10.

TIM Stock Performance

TIM stock traded up $0.07 during mid-day trading on Friday, reaching $22.88. 144,620 shares of the company traded hands, compared to its average volume of 474,828. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.91 and a quick ratio of 0.88. The firm’s fifty day moving average is $21.75 and its two-hundred day moving average is $19.66. The company has a market capitalization of $11.08 billion, a price-to-earnings ratio of 17.75, a price-to-earnings-growth ratio of 0.88 and a beta of 0.62. TIM has a fifty-two week low of $11.32 and a fifty-two week high of $23.69.

TIM (NYSE:TIMB) last posted its earnings results on Monday, November 3rd. The company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.36 by $0.10. TIM had a return on equity of 13.99% and a net margin of 13.91%.The firm had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.21 billion. On average, equities research analysts expect that TIM will post 1.34 earnings per share for the current fiscal year.

Institutional Investors Weigh In On TIM

Several institutional investors and hedge funds have recently bought and sold shares of the business. Robeco Institutional Asset Management B.V. grew its position in TIM by 10.8% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 3,482,294 shares of the company’s stock worth $70,029,000 after purchasing an additional 339,384 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in TIM by 4.7% during the first quarter. Goldman Sachs Group Inc. now owns 1,056,805 shares of the company’s stock worth $16,539,000 after buying an additional 47,130 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of TIM by 9.4% during the third quarter. JPMorgan Chase & Co. now owns 448,722 shares of the company’s stock worth $10,015,000 after purchasing an additional 38,649 shares during the period. American Century Companies Inc. boosted its holdings in shares of TIM by 26.4% in the second quarter. American Century Companies Inc. now owns 445,578 shares of the company’s stock worth $8,961,000 after buying an additional 93,179 shares during the period. Finally, Assetmark Inc. boosted its stake in TIM by 1.0% in the 3rd quarter. Assetmark Inc. now owns 384,034 shares of the company’s stock worth $8,572,000 after purchasing an additional 3,876 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.