TIM (NYSE:TIMB) Price Target Cut to $19.00 by Analysts at Barclays

TIM (NYSE:TIMB) had its target price reduced by Barclays from $20.00 to $19.00 in a research note released on Wednesday morning, Benzinga reports. They currently have an equal weight rating on the stock.

TIM Stock Down 3.0 %

TIMB traded down $0.52 during trading on Wednesday, hitting $16.38. The company had a trading volume of 631,540 shares, compared to its average volume of 447,718. The firm’s 50-day moving average price is $17.78 and its 200 day moving average price is $17.71. The company has a current ratio of 0.89, a quick ratio of 0.86 and a debt-to-equity ratio of 0.50. TIM has a one year low of $13.53 and a one year high of $19.14.

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

TIM Cuts Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $0.26 dividend on an annualized basis and a dividend yield of 1.56%. TIM’s dividend payout ratio is 55.93%.

Institutional Trading of TIM

Several institutional investors and hedge funds have recently added to or reduced their stakes in TIMB. Raymond James & Associates acquired a new position in TIM during the third quarter worth approximately $194,000. Assetmark Inc. raised its position 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. boosted its holdings in shares of TIM by 20.7% during the 3rd quarter. Daiwa Securities Group Inc. now owns 35,000 shares of the company’s stock worth $522,000 after buying an additional 6,000 shares during the period. Signaturefd LLC lifted its position in TIM by 25.8% during the third quarter. Signaturefd LLC now owns 3,916 shares of the company’s stock worth $58,000 after acquiring an additional 803 shares during the last quarter. Finally, Capital Wealth Planning LLC acquired a new position in shares of TIM in the third quarter valued at approximately $617,000.

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.