TIM (NYSE:TIMB) Reaches New 1-Year Low Following Analyst Downgrade

Tim S.A. (NYSE:TIMB) shares hit a new 52-week low during mid-day trading on Thursday after The Goldman Sachs Group lowered their price target on the stock from $16.20 to $14.00. The Goldman Sachs Group currently has a neutral rating on the stock. TIM traded as low as $11.76 and last traded at $11.82, with a volume of 754027 shares traded. The stock had previously closed at $12.33.

Several other brokerages have also recently commented on TIMB. UBS Group cut shares of TIM from a “buy” rating to a “neutral” rating in a research report on Monday, December 9th. Barclays lowered their price objective on TIM from $18.00 to $17.50 and set an “equal weight” rating for the company in a research report on Tuesday, November 12th. Finally, Scotiabank reduced their target price on shares of TIM from $24.80 to $23.20 and set a “sector outperform” rating on the stock in a report on Tuesday, November 5th.

Institutional Investors Weigh In On TIM

Institutional investors and hedge funds have recently bought and sold shares of the stock. Renaissance Technologies LLC increased its position in TIM by 11.7% in the 2nd quarter. Renaissance Technologies LLC now owns 1,364,048 shares of the company’s stock valued at $19,533,000 after acquiring an additional 142,862 shares during the period. Itau Unibanco Holding S.A. raised its stake in shares of TIM by 55.8% during the third quarter. Itau Unibanco Holding S.A. now owns 1,073,450 shares of the company’s stock worth $18,485,000 after purchasing an additional 384,500 shares during the last quarter. Millennium Management LLC grew its position in TIM by 16.0% in the 2nd quarter. Millennium Management LLC now owns 923,532 shares of the company’s stock valued at $13,225,000 after buying an additional 127,465 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in TIM by 137.7% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 707,710 shares of the company’s stock valued at $12,187,000 after buying an additional 409,992 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in TIM during the 3rd quarter worth $12,054,000.

TIM Price Performance

The company has a market cap of $5.92 billion, a price-to-earnings ratio of 9.71, a PEG ratio of 0.57 and a beta of 0.84. The company’s 50 day moving average price is $13.92 and its 200 day moving average price is $15.05. The company has a current ratio of 0.97, a quick ratio of 0.93 and a debt-to-equity ratio of 0.52.

TIM (NYSE:TIMB) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.09). TIM had a net margin of 12.71% and a return on equity of 11.73%. The business had revenue of $1.16 billion during the quarter. Equities research analysts forecast that Tim S.A. will post 1.2 earnings per share for the current year.

TIM Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Monday, December 30th will be issued a $0.1723 dividend. This represents a $0.69 dividend on an annualized basis and a dividend yield of 5.63%. The ex-dividend date is Monday, December 30th. This is an increase from TIM’s previous quarterly dividend of $0.09. TIM’s dividend payout ratio (DPR) is currently 26.19%.

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.