TIM (NYSE:TIMB) Price Target Lowered to $19.00 at Barclays

TIM (NYSE:TIMB) had its target price trimmed by Barclays from $20.00 to $19.00 in a research note issued to investors on Wednesday morning, Benzinga reports. The firm currently has an equal weight rating on the stock.

TIM Stock Down 3.0 %

NYSE:TIMB traded down $0.52 during mid-day trading on Wednesday, hitting $16.38. 631,540 shares of the stock traded hands, compared to its average volume of 447,718. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.86 and a current ratio of 0.89. TIM has a 52 week low of $13.53 and a 52 week high of $19.14. The firm’s 50 day moving average is $17.78 and its two-hundred day moving average is $17.71.

TIM (NYSE:TIMB) last released its earnings results on Tuesday, February 6th. The company reported $0.37 EPS for the quarter. TIM had a return on equity of 10.64% and a net margin of 11.96%. The firm had revenue of $1.27 billion for the quarter. As a group, equities research analysts predict that TIM will post 1.37 earnings per share for the current fiscal year.

TIM Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Monday, April 1st were paid a dividend of $0.064 per share. This represents a $0.26 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date was Thursday, March 28th. TIM’s dividend payout ratio is currently 55.93%.

Institutional Investors Weigh In On TIM

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Raymond James & Associates bought a new position in TIM in the 3rd quarter worth about $194,000. Assetmark Inc. boosted its holdings in shares of TIM by 9.3% in the third quarter. Assetmark Inc. now owns 182,535 shares of the company’s stock valued at $2,720,000 after purchasing an additional 15,470 shares during the period. Daiwa Securities Group Inc. grew its stake in TIM by 20.7% in the third quarter. Daiwa Securities Group Inc. now owns 35,000 shares of the company’s stock worth $522,000 after purchasing an additional 6,000 shares in the last quarter. Signaturefd LLC increased its holdings in TIM by 25.8% during the 3rd quarter. Signaturefd LLC now owns 3,916 shares of the company’s stock worth $58,000 after purchasing an additional 803 shares during the period. Finally, Capital Wealth Planning LLC bought a new stake in TIM during the 3rd quarter valued at $617,000.

TIM Company Profile

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.