TIM (NYSE:TIMB) Sees Unusually-High Trading Volume – Here’s What Happened

Shares of Tim S.A. (NYSE:TIMB) saw unusually-strong trading volume on Tuesday . Approximately 657,975 shares traded hands during mid-day trading, an increase of 74% from the previous session’s volume of 379,236 shares.The stock last traded at $12.08 and had previously closed at $11.86.

Wall Street Analysts Forecast Growth

Several brokerages have commented on TIMB. Scotiabank decreased their price objective on shares of TIM from $24.80 to $23.20 and set a “sector outperform” rating for the company in a report on Tuesday, November 5th. UBS Group lowered shares of TIM from a “buy” rating to a “neutral” rating in a report on Monday, December 9th. Barclays reduced their target price on TIM from $18.00 to $17.50 and set an “equal weight” rating on the stock in a report on Tuesday, November 12th. Finally, The Goldman Sachs Group dropped their price target on TIM from $16.20 to $14.00 and set a “neutral” rating on the stock in a research report on Thursday, December 19th.

TIM Stock Up 2.2 %

The firm has a market capitalization of $5.87 billion, a P/E ratio of 9.62, a P/E/G ratio of 0.57 and a beta of 0.83. The company has a fifty day simple moving average of $13.18 and a 200 day simple moving average of $14.82. The company has a quick ratio of 0.93, a current ratio of 0.97 and a debt-to-equity ratio of 0.52.

TIM (NYSE:TIMB) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.09). The company had revenue of $1.16 billion for the quarter. TIM had a net margin of 12.71% and a return on equity of 11.73%. On average, equities analysts expect that Tim S.A. will post 1.2 EPS for the current fiscal year.

TIM Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 30th. Investors of record on Monday, December 30th will be issued a $0.1723 dividend. This is a boost from TIM’s previous quarterly dividend of $0.09. This represents a $0.69 dividend on an annualized basis and a yield of 5.68%. The ex-dividend date is Monday, December 30th. TIM’s dividend payout ratio (DPR) is currently 53.97%.

Institutional Trading of TIM

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Victory Capital Management Inc. increased its stake in TIM by 7.8% in the 2nd quarter. Victory Capital Management Inc. now owns 46,912 shares of the company’s stock worth $672,000 after buying an additional 3,408 shares in the last quarter. Custom Index Systems LLC bought a new stake in TIM during the 2nd quarter valued at approximately $287,000. Caprock Group LLC purchased a new position in TIM in the 2nd quarter worth approximately $202,000. Daiwa Securities Group Inc. boosted its stake in TIM by 69.2% in the 2nd quarter. Daiwa Securities Group Inc. now owns 22,000 shares of the company’s stock worth $315,000 after purchasing an additional 9,000 shares during the period. Finally, American Century Companies Inc. grew its holdings in TIM by 5.8% during the 2nd quarter. American Century Companies Inc. now owns 284,714 shares of the company’s stock valued at $4,077,000 after buying an additional 15,501 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.