Short Interest in TIM S.A. Sponsored ADR (NYSE:TIMB) Grows By 28.1%

TIM S.A. Sponsored ADR (NYSE:TIMB) was the recipient of a significant increase in short interest in March. As of March 31st, there was short interest totaling 4,212,023 shares, an increase of 28.1% from the March 15th total of 3,288,606 shares. Based on an average trading volume of 378,647 shares, the days-to-cover ratio is presently 11.1 days. Approximately 0.9% of the shares of the stock are short sold.

Hedge Funds Weigh In On TIM

A number of large investors have recently made changes to their positions in TIMB. Allianz Asset Management GmbH bought a new stake in TIM during the third quarter worth approximately $2,393,000. Capital Insight Partners LLC bought a new stake in TIM during the third quarter worth approximately $1,116,000. Archford Capital Strategies LLC bought a new stake in TIM during the fourth quarter worth approximately $676,000. JPMorgan Chase & Co. boosted its position in 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. Finally, Caprock Group LLC bought a new stake in TIM during the third quarter worth approximately $866,000.

TIM Stock Up 0.6%

Shares of TIMB traded up $0.15 during trading hours on Friday, reaching $26.78. The company’s stock had a trading volume of 372,070 shares, compared to its average volume of 452,401. The firm has a market cap of $12.97 billion, a price-to-earnings ratio of 16.74, a P/E/G ratio of 0.68 and a beta of 0.48. TIM has a 1-year low of $15.22 and a 1-year high of $28.22. The company has a quick ratio of 0.86, a current ratio of 0.89 and a debt-to-equity ratio of 0.58. The company has a 50 day moving average of $26.24 and a two-hundred day moving average of $23.48.

TIM (NYSE:TIMB) last issued its earnings results on Tuesday, February 10th. The company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.04. The company had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.30 billion. TIM had a return on equity of 17.84% and a net margin of 16.28%. As a group, research analysts predict that TIM will post 1.34 EPS for the current fiscal year.

TIM Announces Dividend

The firm also recently announced a special dividend, which will be paid on Thursday, May 7th. Stockholders of record on Monday, March 30th will be issued a $0.1552 dividend. The ex-dividend date is Monday, March 30th. TIM’s dividend payout ratio is currently 68.13%.

Analysts Set New Price Targets

Several equities research analysts have commented on TIMB shares. Scotiabank boosted their price target on shares of TIM from $23.60 to $29.50 and gave the stock a “sector perform” rating in a research report on Monday, March 30th. New Street Research upgraded shares of TIM from a “neutral” rating to a “buy” rating in a research report on Tuesday, April 7th. Weiss Ratings upgraded shares of TIM from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, March 16th. Barclays boosted their price target on shares of TIM from $26.00 to $27.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Finally, Citigroup downgraded TIM from a “buy” rating to a “neutral” rating in a report on Wednesday, January 21st. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $24.82.

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. TIM S.A is based in Rio de Janeiro, Brazil. The company operates as a subsidiary of TIM Brasil Serviços e Participações SA