TIM (NYSE:TIMB) Trading Up 4.3% After Dividend Announcement

Shares of Tim S.A. (NYSE:TIMB) shot up 4.3% on Thursday following a dividend announcement from the company. The stock traded as high as $16.51 and last traded at $16.64. Approximately 78,652 shares were traded during trading, a decline of 85% from the average session volume of 509,333 shares. The stock had previously closed at $15.96.

The newly announced dividend which will be paid on Thursday, October 30th. Shareholders of record on Friday, April 11th will be issued a dividend of $0.2288 per share. This is an increase from TIM’s previous dividend of $0.08. The ex-dividend date of this dividend is Thursday, April 10th. This represents a yield of 5.73%. TIM’s dividend payout ratio is 58.47%.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. The Goldman Sachs Group reduced their target price on shares of TIM from $16.20 to $14.00 and set a “neutral” rating on the stock in a report on Thursday, December 19th. Scotiabank decreased their price objective on shares of TIM from $23.20 to $17.60 and set a “sector outperform” rating for the company in a research report on Wednesday, February 12th. Barclays raised their price target on TIM from $16.00 to $16.50 and gave the company an “equal weight” rating in a research note on Monday, March 17th. Finally, UBS Group downgraded TIM from a “buy” rating to a “neutral” rating in a report on Monday, December 9th.

TIM Stock Performance

The company has a quick ratio of 0.93, a current ratio of 0.97 and a debt-to-equity ratio of 0.52. The company has a market cap of $8.05 billion, a PE ratio of 14.10, a price-to-earnings-growth ratio of 0.67 and a beta of 0.84. The firm has a fifty day simple moving average of $14.47 and a 200-day simple moving average of $14.18.

TIM (NYSE:TIMB) last posted its quarterly earnings results on Tuesday, February 11th. The company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.04). TIM had a net margin of 12.24% and a return on equity of 11.91%. On average, research analysts forecast that Tim S.A. will post 1.34 EPS for the current fiscal year.

Institutional Investors Weigh In On TIM

A number of institutional investors and hedge funds have recently modified their holdings of the company. Itau Unibanco Holding S.A. increased its holdings in TIM by 64.9% during the 4th quarter. Itau Unibanco Holding S.A. now owns 1,769,904 shares of the company’s stock valued at $20,814,000 after acquiring an additional 696,454 shares in the last quarter. Schroder Investment Management Group purchased a new stake in TIM in the 4th quarter valued at approximately $5,666,000. Renaissance Technologies LLC grew its holdings in TIM by 19.7% during the 4th quarter. Renaissance Technologies LLC now owns 1,718,588 shares of the company’s stock valued at $20,211,000 after buying an additional 283,002 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in shares of TIM by 8.5% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,932,973 shares of the company’s stock valued at $22,732,000 after acquiring an additional 152,061 shares during the last quarter. Finally, Marshall Wace LLP raised its stake in TIM by 278.8% in the 4th quarter. Marshall Wace LLP now owns 178,023 shares of the company’s stock valued at $2,094,000 after purchasing an additional 131,023 shares during 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.