TIM (NYSE:TIMB) Share Price Breaks Above 50 Day Moving Average – Here’s What Happened

TIM S.A. Sponsored ADR (NYSE:TIMB)’s stock price crossed above its 50 day moving average during trading on Monday. The stock has a 50 day moving average of $18.43 and traded as high as $18.50. TIM shares last traded at $18.4440, with a volume of 719,450 shares.

Wall Street Analyst Weigh In

TIMB has been the subject of several research reports. Weiss Ratings lowered TIM from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, October 23rd. Barclays dropped their price target on TIM from $22.00 to $20.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Morgan Stanley reissued a “market perform” rating and set a $22.00 price target on shares of TIM in a research report on Thursday, August 20th. Bank of America upgraded TIM from an “underperform” rating to a “neutral” rating in a research note on Tuesday, October 13th. Finally, Wall Street Zen downgraded shares of TIM from a “buy” rating to a “hold” rating in a report on Saturday, August 29th. Two equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $23.58.

TIM Trading Up 4.5%

The firm has a market cap of $9.34 billion, a P/E ratio of 11.90, a P/E/G ratio of 1.70 and a beta of 0.39. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.82 and a current ratio of 0.85. The firm has a fifty day moving average of $18.47 and a 200-day moving average of $21.95.

TIM (NYSE:TIMB) last released its quarterly earnings data on Monday, November 9th. The company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.03. TIM had a return on equity of 17.88% and a net margin of 14.76%. The business had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.37 billion. Equities research analysts forecast that TIM S.A. Sponsored ADR will post 1.79 earnings per share for the current year.

TIM Dividend Announcement

The company also recently disclosed a special dividend, which will be paid on Friday, January 29th. Investors of record on Monday, September 28th will be given a $0.2102 dividend. The ex-dividend date is Monday, September 28th. TIM’s dividend payout ratio (DPR) is currently 64.02%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Assetmark Inc. increased its stake in shares of TIM by 19.0% in the first quarter. Assetmark Inc. now owns 490,478 shares of the company’s stock valued at $12,993,000 after purchasing an additional 78,379 shares during the period. Bank of America Corp DE grew its holdings in TIM by 199.8% in the 1st quarter. Bank of America Corp DE now owns 251,330 shares of the company’s stock worth $6,658,000 after buying an additional 167,504 shares in the last quarter. Hsbc Holdings PLC grew its holdings in TIM by 55.5% in the 1st quarter. Hsbc Holdings PLC now owns 135,167 shares of the company’s stock worth $3,578,000 after buying an additional 48,232 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its holdings in TIM by 31.6% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 99,902 shares of the company’s stock worth $1,783,000 after buying an additional 24,000 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in TIM by 2.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 94,380 shares of the company’s stock valued at $2,500,000 after acquiring an additional 2,437 shares during the period.

About TIM

TIM S.A. is a Brazilian telecommunications company that provides mobile voice and data services to consumers and businesses. Its offerings include mobile plans, internet access and digital services, supported by its wireless network. The company also offers fixed broadband services, including fiber-optic internet, under the TIM brand. It serves customers across Brazil, with mobile coverage extending throughout the country. TIM began operating in Brazil in 1998 and has since expanded its network and range of telecommunications services.