Tim S.A. (NYSE:TIMB) Sees Large Decline in Short Interest

Tim S.A. (NYSE:TIMB) was the target of a significant decrease in short interest during the month of December. As of December 15th, there was short interest totalling 798,300 shares, a decrease of 34.0% from the November 30th total of 1,210,000 shares. Approximately 0.2% of the shares of the company are short sold. Based on an average daily volume of 549,800 shares, the short-interest ratio is currently 1.5 days.

TIM Price Performance

Shares of NYSE:TIMB traded up $0.04 during trading on Friday, reaching $11.85. The company had a trading volume of 463,611 shares, compared to its average volume of 479,582. The company has a fifty day moving average of $13.58 and a two-hundred day moving average of $14.94. The company has a current ratio of 0.97, a quick ratio of 0.93 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $5.74 billion, a P/E ratio of 9.40, a price-to-earnings-growth ratio of 0.57 and a beta of 0.84. TIM has a 12 month low of $11.65 and a 12 month high of $19.14.

TIM (NYSE:TIMB) last released its quarterly earnings results 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). TIM had a net margin of 12.71% and a return on equity of 11.73%. The firm had revenue of $1.16 billion for the quarter. Equities research analysts forecast that TIM will post 1.2 earnings per share for the current year.

TIM Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 30th. Shareholders of record on Monday, December 30th will be given a dividend of $0.1723 per share. 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 5.81%. The ex-dividend date is Monday, December 30th. TIM’s dividend payout ratio (DPR) is presently 53.97%.

Analyst Upgrades and Downgrades

Several brokerages have commented on TIMB. The Goldman Sachs Group cut 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. Barclays decreased their target price on shares of TIM from $18.00 to $17.50 and set an “equal weight” rating on the stock in a report on Tuesday, November 12th. Scotiabank cut their price target 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. Finally, UBS Group cut shares of TIM from a “buy” rating to a “neutral” rating in a report on Monday, December 9th.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Renaissance Technologies LLC boosted its holdings in TIM by 11.7% during the 2nd quarter. Renaissance Technologies LLC now owns 1,364,048 shares of the company’s stock valued at $19,533,000 after acquiring an additional 142,862 shares during the period. Itau Unibanco Holding S.A. lifted its position in TIM by 55.8% in the third quarter. Itau Unibanco Holding S.A. now owns 1,073,450 shares of the company’s stock valued at $18,485,000 after purchasing an additional 384,500 shares during the last quarter. Millennium Management LLC boosted its stake in shares of TIM by 16.0% during the second quarter. Millennium Management LLC now owns 923,532 shares of the company’s stock valued at $13,225,000 after purchasing an additional 127,465 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of TIM by 137.7% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 707,710 shares of the company’s stock worth $12,187,000 after purchasing an additional 409,992 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of TIM in the third quarter worth approximately $12,054,000.

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.