TIM (NYSE:TIMB) Stock Price Expected to Rise, Scotiabank Analyst Says

TIM (NYSE:TIMB) had its price target upped by equities research analysts at Scotiabank from $27.00 to $28.50 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “sector perform” rating on the stock. Scotiabank’s price objective points to a potential upside of 27.03% from the stock’s previous close.

A number of other research firms have also recently weighed in on TIMB. Bradesco Corretora cut TIM to a “neutral” rating in a report on Tuesday, April 28th. Wall Street Zen lowered shares of TIM from a “strong-buy” rating to a “buy” rating in a research note on Monday. New Street Research upgraded shares of TIM from a “neutral” rating to a “buy” rating in a research note on Tuesday, April 7th. Zacks Research lowered shares of TIM from a “strong-buy” rating to a “hold” rating in a report on Friday, May 15th. Finally, Weiss Ratings downgraded shares of TIM from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $25.90.

TIM Stock Down 0.2%

NYSE TIMB traded down $0.05 during trading hours on Wednesday, hitting $22.44. The company had a trading volume of 35,223 shares, compared to its average volume of 423,143. The firm’s 50 day moving average is $25.20 and its 200 day moving average is $23.86. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.92 and a quick ratio of 0.89. TIM has a fifty-two week low of $16.82 and a fifty-two week high of $28.22. The company has a market capitalization of $10.86 billion, a price-to-earnings ratio of 13.71, a P/E/G ratio of 1.15 and a beta of 0.43.

TIM (NYSE:TIMB) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.02). TIM had a return on equity of 17.77% and a net margin of 16.00%.The company had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.32 billion. Sell-side analysts anticipate that TIM will post 1.81 earnings per share for the current fiscal year.

Insider Buying and Selling

In other TIM news, insider Auana Mattar Lima sold 8,200 shares of the firm’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $4.42, for a total transaction of $36,244.00. Following the completion of the transaction, the insider directly owned 36,686 shares of the company’s stock, valued at $162,152.12. This trade represents a 18.27% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Institutional Investors Weigh In On TIM

Institutional investors have recently modified their holdings of the stock. Inspire Investing LLC lifted its position in shares of TIM by 10.1% during the first quarter. Inspire Investing LLC now owns 4,191 shares of the company’s stock worth $111,000 after purchasing an additional 386 shares during the last quarter. Wells Fargo & Company MN increased its holdings in TIM by 53.8% in the fourth quarter. Wells Fargo & Company MN now owns 1,413 shares of the company’s stock valued at $27,000 after buying an additional 494 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in TIM by 23.8% in the fourth quarter. EverSource Wealth Advisors LLC now owns 2,619 shares of the company’s stock valued at $51,000 after buying an additional 504 shares during the last quarter. NewEdge Advisors LLC raised its stake in TIM by 5.2% during the fourth quarter. NewEdge Advisors LLC now owns 14,551 shares of the company’s stock valued at $283,000 after buying an additional 714 shares in the last quarter. Finally, DGS Capital Management LLC raised its stake in TIM by 1.9% during the first quarter. DGS Capital Management LLC now owns 40,919 shares of the company’s stock valued at $1,084,000 after buying an additional 753 shares in the last quarter.

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