TIM (NYSE:TIMB) Shares Gap Up – Still a Buy?

Tim S.A. (NYSE:TIMB) shares gapped up prior to trading on Monday . The stock had previously closed at $12.73, but opened at $13.11. TIM shares last traded at $12.96, with a volume of 51,111 shares trading hands.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on TIMB. The Goldman Sachs Group reduced their target price on TIM from $16.20 to $14.00 and set a “neutral” rating for the company in a research note on Thursday, December 19th. Scotiabank dropped their price objective on shares of TIM from $24.80 to $23.20 and set a “sector outperform” rating on the stock in a research report on Tuesday, November 5th. Barclays lowered their price target on shares of TIM from $17.50 to $15.50 and set an “equal weight” rating on the stock in a report on Tuesday, January 14th. Finally, UBS Group downgraded TIM from a “buy” rating to a “neutral” rating in a research report on Monday, December 9th.

TIM Stock Up 2.8 %

The stock has a market capitalization of $6.33 billion, a P/E ratio of 10.35, a P/E/G ratio of 0.58 and a beta of 0.83. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.97 and a quick ratio of 0.93. The firm has a 50-day simple moving average of $12.60 and a 200 day simple moving average of $14.59.

TIM (NYSE:TIMB) last announced its quarterly earnings results on Tuesday, November 5th. The company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.09). The business had revenue of $1.16 billion during the quarter. TIM had a net margin of 12.71% and a return on equity of 11.73%. On average, equities research analysts forecast that Tim S.A. will post 1.16 EPS for the current 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. The ex-dividend date is Monday, December 30th. This is a boost from TIM’s previous quarterly dividend of $0.09. This represents a $0.69 annualized dividend and a yield of 5.27%. TIM’s dividend payout ratio is presently 54.76%.

Institutional Investors Weigh In On TIM

Several large investors have recently modified their holdings of the company. EverSource Wealth Advisors LLC increased its holdings in TIM by 108.3% in the second quarter. EverSource Wealth Advisors LLC now owns 1,606 shares of the company’s stock worth $25,000 after purchasing an additional 835 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of TIM during the 3rd quarter worth approximately $25,000. R Squared Ltd bought a new stake in shares of TIM in the 4th quarter valued at $53,000. Inspire Advisors LLC acquired a new stake in TIM in the third quarter worth $173,000. Finally, XTX Topco Ltd grew its holdings in TIM by 26.1% in the second quarter. XTX Topco Ltd now owns 13,264 shares of the company’s stock worth $190,000 after purchasing an additional 2,746 shares during the period.

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.