TIM (NYSE:TIMB) Reaches New 52-Week Low – Here’s What Happened

Shares of TIM S.A. Sponsored ADR (NYSE:TIMB) hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $18.20 and last traded at $18.1370, with a volume of 75821 shares traded. The stock had previously closed at $18.39.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on TIMB shares. Weiss Ratings upgraded TIM from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, August 6th. Santander raised TIM from a “neutral” rating to an “outperform” rating in a report on Monday, June 22nd. Barclays reduced their price target on TIM from $28.00 to $24.00 and set an “equal weight” rating for the company in a research note on Friday, July 10th. The Goldman Sachs Group initiated coverage on TIM in a report on Monday, May 18th. They issued a “neutral” rating and a $23.40 price objective on the stock. Finally, Zacks Research downgraded TIM from a “strong-buy” rating to a “hold” rating in a report on Friday, May 15th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, TIM presently has an average rating of “Hold” and an average target price of $25.38.

TIM Stock Performance

The stock has a 50 day simple moving average of $20.97 and a 200 day simple moving average of $23.65. The stock has a market cap of $8.81 billion, a P/E ratio of 10.76, a price-to-earnings-growth ratio of 1.19 and a beta of 0.40. The company has a current ratio of 0.85, a quick ratio of 0.82 and a debt-to-equity ratio of 0.55.

TIM (NYSE:TIMB) last posted its quarterly earnings results on Wednesday, June 17th. The company reported $0.42 EPS for the quarter. The business had revenue of $1.35 billion during the quarter. TIM had a return on equity of 17.99% and a net margin of 15.73%. On average, equities analysts expect that TIM S.A. Sponsored ADR will post 1.83 earnings per share for the current year.

TIM Dividend Announcement

The firm also recently disclosed a special dividend, which was paid on Wednesday, July 29th. Investors of record on Monday, June 29th were paid a $0.1618 dividend. The ex-dividend date of this dividend was Monday, June 29th. TIM’s dividend payout ratio (DPR) is 61.54%.

Insider Activity

In other news, insider Auana Mattar Lima sold 8,200 shares of the stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $4.42, for a total value of $36,244.00. Following the completion of the transaction, the insider owned 36,686 shares of the company’s stock, valued at approximately $162,152.12. This represents a 18.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Marques Andrea Palma Viegas sold 35,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $4.32, for a total transaction of $151,200.00. Following the completion of the sale, the chief financial officer owned 83,259 shares in the company, valued at approximately $359,678.88. The trade was a 29.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure.

Institutional Trading of TIM

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wells Fargo & Company MN boosted its holdings in shares of TIM by 53.8% during the 4th quarter. Wells Fargo & Company MN now owns 1,413 shares of the company’s stock worth $27,000 after buying an additional 494 shares in the last quarter. Eastern Bank acquired a new stake in shares of TIM in the 2nd quarter worth about $34,000. Kestra Advisory Services LLC purchased a new stake in shares of TIM in the fourth quarter worth approximately $39,000. EverSource Wealth Advisors LLC boosted its position in shares of TIM by 188.1% during the second quarter. EverSource Wealth Advisors LLC now owns 2,060 shares of the company’s stock valued at $41,000 after buying an additional 1,345 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in TIM during the 2nd quarter valued at $42,000.

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