Scotiabank Lowers TIM (NYSE:TIMB) Price Target to $17.60

TIM (NYSE:TIMB - Free Report) had its price objective decreased by Scotiabank from $23.20 to $17.60 in a research report sent to investors on Wednesday,Benzinga reports. Scotiabank currently has a sector outperform rating on the stock.

TIMB has been the topic of several other reports. The Goldman Sachs Group lowered their price objective on TIM from $16.20 to $14.00 and set a "neutral" rating on the stock in a research report on Thursday, December 19th. UBS Group cut TIM from a "buy" rating to a "neutral" rating in a research report on Monday, December 9th. Finally, Barclays decreased their target price on TIM from $17.50 to $15.50 and set an "equal weight" rating for the company in a research report on Tuesday, January 14th.

TIM Price Performance

NYSE:TIMB traded up $0.10 during midday trading on Wednesday, hitting $15.21. The company had a trading volume of 1,233,145 shares, compared to its average volume of 635,818. The company has a market capitalization of $7.36 billion, a PE ratio of 12.07, a P/E/G ratio of 0.60 and a beta of 0.84. The stock's fifty day moving average price is $12.66 and its 200-day moving average price is $14.47. The company has a quick ratio of 0.93, a current ratio of 0.97 and a debt-to-equity ratio of 0.52. TIM has a 52-week low of $11.32 and a 52-week high of $19.14.

TIM (NYSE:TIMB - Get Free Report) last released its quarterly earnings results on Tuesday, February 11th. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.04). TIM had a net margin of 12.71% and a return on equity of 11.73%. As a group, research analysts expect that TIM will post 1.16 earnings per share for the current year.

TIM Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 29th. Shareholders of record on Friday, February 21st will be issued a $0.0717 dividend. This represents a $0.29 annualized dividend and a yield of 1.89%. The ex-dividend date is Friday, February 21st. TIM's dividend payout ratio is currently 51.69%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in TIM during the third quarter valued at $25,000. Global Retirement Partners LLC raised its position in TIM by 1,005.0% in the fourth quarter. Global Retirement Partners LLC now owns 2,431 shares of the company's stock valued at $29,000 after purchasing an additional 2,211 shares during the period. R Squared Ltd acquired a new position in shares of TIM in the 4th quarter worth approximately $53,000. EntryPoint Capital LLC purchased a new position in TIM during the 4th quarter valued at about $146,000. Finally, Inspire Advisors LLC purchased a new stake in shares of TIM during the third quarter worth $173,000.

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.